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Real estate and life insurance today on YMYW: what is a home equity line of credit? Is a HELOC better than a traditional mortgage? What are all-in-one mortgage loans? Does it make sense to ditch apartment living and buy a condo, or keep investing for retirement? Next up, Joe and Big Al spitball ideas on what to do with old whole life insurance policies. Plus, ABLE accounts for individuals with disabilities, and should you claim Social Security benefits before or after moving to a no income tax state?
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Spitballing tax-efficient retirement withdrawals, savings, Social Security, and required minimum distributions (RMD). Plus, leveraging whole life insurance, and is investing 15% of an all-stock portfolio in preferred stocks too risky? But first, Joe and Big Al break down the mechanics and safety of doing a 401(k) to IRA rollover.
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Questions answered about Roth 401(k) contributions and “Megatron” (that is, mega backdoor) Roth contributions for highly compensated employees, and the Roth conversion strategy of filling the tax bracket. Plus, moving a pension to an investment plan, owning real estate in a self-directed IRA, paying off the mortgage vs. refinancing, spousal vs. survivor Social Security benefits, rolling a whole life insurance policy to a variable annuity, and more.
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Learn how to rack up tax-free Roth retirement income: Roth IRA vs. Roth 401(k), paying the tax on a Roth conversion, how to avoid violating the 60-day rollover rule on a mega backdoor Roth, and Roth IRA contributions when receiving restricted stock units (RSU) in retirement. Plus, moving money from solo 401(k) to IRA before age 59.5, suggestions for a CFP® to be, and matching your umbrella insurance policy to your net worth.
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Should you invest in a real estate investment trust (REIT)? What about a fixed indexed annuity or structured notes? What can be done about an indexed universal life insurance plan purchased by an employer to replace a defined benefit plan? Plus, understanding qualified small business stock gain exclusion. Joe and Big Al also discuss the […]
Whether you call it a SERP, an iSERP (individual supplemental executive retirement plan), a private pension, or the “Super Roth,” the strategy is overfunding life insurance, and the question is, is it a good idea for retirement planning? Also: a Social Security, pension, retirement withdrawal, and Roth conversion strategy, portfolio modeling scenarios, the earned income […]
Joe and Big Al spitball considerations for a few listener retirement plans, including investing in brokerage and Roth instead of pre-tax, getting tax diversification, taking the pension lump sum or annuity, paying for college education, and calculating a “retirement number” to put your savings on autopilot. Plus, what life insurance “investment” has a purported “guaranteed” […]
What impact do ex-spouses, income, and early retirement have on collecting your Social Security benefits? Plus, indexed universal life insurance, estate planning with a step-up in basis on private placement real estate, and more on CRDs, RMDs, and stimulus checks. Joe and Big Al also submit their forecasts for whether Congress might tax Roth IRA […]
“The sooner we can understand the link between our money and how we spend our lives, the better.” Tanja Hester (called the Matriarch of the women’s FIRE movement by the New York Times) returns to YMYW to discuss the value of our time, how it’s connected to our finances, and the options financial independence provides […]
We tackle Indexed Universal Life Insurance one more time. And you may have heard that millionaires “buy term and invest the rest” to pay estate taxes, but is it a good idea? When you have appreciated company stock, how much should you NUA and when, and how do you deal with the taxes? Plus, can […]
Is indexed universal life insurance good for estate planning, investing or as a tax shelter for high-income earners? Should you pay debt or save if you only have $100K saved for retirement at age 66? Should extra money be invested in your 457 or brokerage account? ETFs or mutual funds? And with the new tax […]
Your Roth IRA questions answered: when should you do a Roth conversion? Should you wait until you’re in retirement to convert? What kind of income is it? How do you convert slowly so the tax bite doesn’t hurt so much? How long do you have to work before you can contribute to a Roth IRA? […]
An entire episode dedicated to money questions that run the gamut: from Roth conversions and the Mega Backdoor Roth strategy to IULs to insure future income, reverse mortgages in recession, divorce and retirement accounts, and much more. Listen to the podcast on YouTube: Subscribe to the YMYW podcast Subscribe to the YMYW podcast newsletter FOLLOW […]
While not everyone may need life insurance, there are some common uses that might be beneficial to you and your specific situation. In this video, Allison Alley, CFP® describes some of the reasons you might consider purchasing life insurance. Transcript: So one of the questions we get quite a bit is whether or not somebody […]
The revamped 2019 tax “postcard,” how the SECURE Act could be a tax problem for those with IRA trusts, and answers to your money questions: is indexed universal life insurance a good investment for education costs? Should you roll your 401(k) to an IRA? How much can you convert from 401(k) to Roth after age […]
