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Pure’s Director of Education, Kathryn Bowie, CFP®, AFC®, breaks down the essentials of IRA planning and shares strategies to help you grow and protect your retirement savings. Outline 0:00 — Introduction & Overview 0:29 — Retirement Account Basics & Contribution Limits 2:53 — The Three Tax Environments 10:23 — Traditional vs. Roth IRA Differences 17:06 — Roth Conversion Strategy 19:59 — Savings Strategies by Life Stage 33:28 — Tax Reduction Strategies & RMD Planning 37:46 — Common Mistakes & Q&A Transcription: (NOTE: Transcriptions are an approximation and may not be entirely correct) Kathryn Bowie, CFP®, AFC®: Retire Smarter: IRA Strategies to Maximize Your Savings. Welcome, […]
Wendy and Joe in Colorado ran the numbers, and their financial planning software says they’ll have over $10 million when they pass. Wendy’s wondering if they should continue converting to Roth while working, despite their high tax bracket. But has the software lulled them into...
Joe and Big Al spitball on paying the tax on your Roth conversions: if you take the money out of your retirement account, what does Joe mean that you’ll be “paying the tax to pay the tax to pay the tax”? Can you pay it...
Can Ted and Georgette convert $1.6M in an inherited trust to Roth without distributing it? Should the trust own their home so they can use the home equity? Melissa was added as joint owner on her parents’ bank accounts after a medical event, but what...
Market declines just before you retire, or early in your retirement, can really screw up your retirement income strategy. If you’re in the middle of the expensive kid years, how do you avoid this sequence of returns risk when making your retirement plans? That’s “Jaclyn...
How can you reduce taxes, IRMAA, net investment income tax, and required minimum distributions when you’ve got too much money in your tax-deferred retirement account – and just how much Roth conversion should you do? Plus, can you contribute to a Roth by transferring stocks...
Generating “tax alpha” to get better returns on your investments: which investments should go in your traditional IRA vs your Roth IRA, and does that asset location depend on your age? Plus, Joe and Big Al spitball whether to roll a TIAA 403(b) to an...
How should your financial strategy change when your income increases dramatically? We’re talking like $450K one year to a million and a quarter the next? (If you guessed Roth conversions might be in the answer you’d be correct!) Joe and Big Al also spitball strategies...
The first eight months of 2022 have been tough for investors. Stock indexes around the world have declined by double digits, while historically safe bonds have suffered their worst performance in decades. Eventually, markets will resume their upward trend, but unfortunately, no one knows exactly when that time will come, and furthermore, no one can […]
