Newly updated for 2022: Your child getting into college is a very exciting time, but finding out the cost and figuring out how you can afford it can be quite overwhelming. Get schooled on the ABC’s of college funding as we answer some of the important questions about how to fund your kid’s college expenses […]
The time may be right for a giant Roth IRA conversion, especially now while the market is down, to potentially give you more money to spend in retirement. How does that work with long-term capital gains and dividends, and how much should you convert to Roth, and when, and how? Plus, deciding how to invest 529 plan college savings, whether to save to pre-tax or post-tax retirement accounts, and the ever-popular Backdoor Roth strategy.
How to Save for Education: 529 Plan, Coverdell, Prepaid Tuition & More | College Planning Strategies
Should you use a 529 plan, Coverdell, prepaid tuition, or a brokerage account to pay for college? Learn the various ways to save for education for your kids and grandkids, the pros and cons of each, and strategies to make the most of your college savings. Transcript: Andi: Thank you all for joining us on […]
Does it make sense to do larger “Calvin Johnson” (Megatron, aka mega backdoor) Roth conversions when the financial markets are way down? Should you convert to Roth now, or in retirement? How do you spitball the right amount to have in 529 plans for education savings? And are the rules for doing a backdoor Roth the same if you’re married filing separately?
Learn the basics of Roth IRA conversions, how to calculate the tax on a Roth conversion, when to pay the tax, and more. Plus, ideas for what to do with unused 529 plan education savings funds, rules for 401(a) accounts, understanding the alternative minimum tax, the latest tax proposals, how to calculate employer solo 401(k) contributions – and that’s just the tip of the iceberg.
Helping your adult children afford a college education is likely one of the biggest investments you’ll undertake. Too often families fail to put together a financial plan for college, so they are tempted to dip into their retirement funds and jeopardize their own financial security. The result: parents are taking on more debt than ever […]
Recharacterization of excess Roth IRA contributions, converting post-tax contributions to Roth 401(k), and the pro-rata rule. Plus, target-date fund ladders? Also, investing 529 plan money, section 199A dividends from real estate investment trusts (REITs), and how Matt Stafford should save for retirement with his new $34M LA Rams contract (just in case you’re expecting a football player’s salary anytime soon.)
Choosing the pension lump sum or monthly payment: let it ride, roll it, or annuitize it? Plus, spitball analyses involving the 72(t) tax election, a donor-advised fund, 529 plans, and early retirement. Also, is growth on after-tax 401(k) contributions tax-free? How much of the portfolio should be in tax-free, taxable, and tax-deferred accounts? How does […]
Welcome to 2021! In this first episode of the year, Joe and Big Al go over estate planning strategies for CFP® candidate/Redditor Nate in SC, they do a spitball analysis for John in TN who wants to retire early, a retirement withdrawal and 529 plan strategy for Ace in TX, and a breakdown of pension […]
Are you screwing up your Backdoor Roth IRA conversion? Find out. Plus, tax on mega-Backdoor Roth conversions, Medicaid spend-down rules and your Roth IRA, and Joe and Big Al take a burning confession about Roth conversions and IRS form 8606. Also, more on Vanguard’s VTSAX and dividend yield, and various options for investing for minor […]
If you’re in the 22% tax bracket, does 22% of what you make go to the IRS? How does capital gains tax work with ordinary income tax? Joe & Big Al explain how tax brackets work and they answer your Roth contribution and Roth conversion questions: like what’s the point of a Roth conversion if […]
How do you run the numbers to find a good, profitable rental property? Should you pay off the mortgage, buy more real estate, or save for retirement? Should you buy a home with all cash? Can a property be considered a rental for tax purposes? Should you refinance your home to pay student loans? What […]
Looking to give your grandchildren a jumpstart on saving for their education but not sure if college funds or investment funds are the best way to grow the money? Do you have real estate you want to pass on to your children but want to limit the taxes they have to pay? Financial professionals Joe […]
Newly updated for 2019: College costs are a challenge for parents and students alike. In this video, Senior Financial Planner Brian Sauter, CFP® walks through education savings plans that offer tax incentives and those that don’t, along with the rules, pros, and cons of each plan. College savings plans with tax incentives: 529 College Savings […]