Is there a way to get out of a bad SIMPLE IRA and stash cash in a tax-free Roth account? Can an owner of a company, that’s being sold to another company, load up a Roth account with company shares before the sale, and have a big chunk of cash happily growing tax-free? (What exactly are disqualified persons and prohibited transactions?) When designating beneficiaries of an annuity in a community property state like California, does state law or the annuity owner determine the beneficiary?
Heaven forbid that something happened to you. Would the things you worked for all of your life be protected? There are tools and strategies you can use to ensure your money, assets, and possessions pass on after you are gone, but few people are using them. In this episode of Your Money Your Wealth, Joe […]
Asset allocation is the delicate balance of stocks, bonds, and other assets in an investment portfolio. What allocation is best for your retirement needs? What’s a good mix of domestic and international stocks? Is it crazy to have a 90/10 allocation of equities to fixed income in a $10 million portfolio? Should Dad’s portfolio be rebalanced from 90% stocks to 60% stocks and 40% bonds? Can pension and Social Security be counted as your bond allocation? Plus, legacy tax planning: how can you avoid confiscatory estate taxes?
Maxing out Roth IRA, 457, and HSA – check. Pension – check. What else should you be doing to prepare for a successful retirement? (And do 40 chickens play a part?!) How do pension and Social Security fit into your equity and fixed income portfolio mix? Should you be more aggressive with Roth conversions? When planning for early retirement and considering inflation, is a 5% equities growth rate a good rule of thumb? Will a Spousal Lifetime Access Trust (SLAT) protect assets from a tax time bomb? Plus, an overview of the SECURE Act 2.0.
Are you protecting your life legacy and keeping the money in your family? You’ve spent your adulthood building your nest egg and accumulating homes, cars, jewelry, and other things that you value. What happens to those assets if you pass away? Without an estate plan, you are leaving all that you have accumulated vulnerable to […]
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 […]
When does the real estate depreciation 121 exclusion happen and how do you account for rental property equity, or cap rates, to calculate retirement income? Plus, estate planning beneficiaries and charitable donations, stock market investing in an LLC, understanding the national debt, the differences between Roth 401(k) and traditional 401(k), and of course, Backdoor Roth […]
Should you wait until retirement to do a backdoor Roth IRA conversion? Plus, the pro-rata rule, self-employed modified adjusted gross income (MAGI) vs. AGI, and how capital gains work with Roth conversions. Also, strategizing for if and when the estate planning step up in basis tax laws change, whether a high yield savings account is […]
Retirement portfolio rebalancing when the market goes down, accumulation, de-accumulation, dollar cost averaging, and IRR, ROR, and CAGR (not “kegger”) as ways of calculating rates of return on investments. Plus step-up in basis, required minimum distributions (RMDs), capital accumulation life insurance plans, tax planning for new homebuyers, spousal Social Security benefits, and of course, backdoor […]
A mixed bag of questions on everything from spousal solo 401(k) contributions and renaming inherited IRAs to real estate buying strategies (should you cash out the 401(k) to buy a house?) and a perennial fan-favorite, ripping on annuities. Plus a healthy dose of Roth conversion planning thrown in the middle. Subscribe to the YMYW podcast […]