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Purefinancial
Making contributions to Retirement Accounts is all about saving now so you can enjoy the retirement of your dreams later on. Now there are several different types of Retirement Accounts with unique features and benefits that may be right for your personal situation. It’s important to understand how they work, so you can choose the […]
Pure’s Principal, Marc Horner, CFP®, identifies 2026 IRA changes, what they mean for you, and how to make sure you’re not leaving money on the table. Transcript Every year, the IRS tinkers with the retirement account rules. Most years it’s minor stuff — a tweak here, a threshold there. But 2026 has a few changes […]
Pure’s Senior Financial Advisor, David Cook, CFP®, AIF®, breaks down Roth and Traditional IRAs to help you navigate the nuances between these retirement accounts and identify which works best for you. Transcript If you ever tried to figure out the difference between a traditional IRA and a Roth IRA and which one you should actually […]
Updated for 2026: Making contributions to an Individual Retirement Account, otherwise known as an IRA, is all about saving now so you can enjoy the retirement of your dreams later on. One of the biggest advantages of an IRA is that your contributions (and any growth thereafter!) will grow tax-free. Now there are several different […]
McDreamy Dempsey wants to know if converting to Roth in the 37% tax bracket ever makes sense, and Gary in La Crosse warns Joe Anderson, CFP® and Big Al Clopine, CPA about Roth conversion “lag” and when it DOESN’T make sense to convert, today on Your Money, Your Wealth® podcast 558. Plus, Wine Guy and Gal in Northern California want a spitball on whether they should protect their ACA subsidies or keep converting to Roth before Medicare kicks in. Then it’s the classic question for Robert in Napa, Luke and Lorelai in Indiana, and Phil and Claire in California: should they save for retirement in their traditional pre-tax accounts, or their post-tax Roth accounts? Different needs and situations, same big question: which strategy gives you the smarter tax outcome?
One Big Beautiful Bill is now law. How does it impact your Roth conversion strategies and other financial decisions? Plus, you may have seen or heard other advisors talking about their strategies for getting your retirement savings into tax-free Roth accounts. How are these different from a good ol’ Roth conversion, and what do Joe and Big Al think of them? Also, why is Ed Slott, CPA, the man known to many as “the IRA guru,” such a fan of permanent cash value life insurance? Finally, an attempted correction from a YMYW YouTube viewer turns into a rousing game of death trivia, and we’ll share some of your opinions from the 8th Annual YMYW Podcast Survey, which just closed. (Congratulations Larry for being the randomly-chosen winner of the $100 Amazon e-gift card, just for completing the survey!)
Imagine being told you only have 12 months to live. What would you do with your time? Jonathan Clements returns to Your Money, Your Wealth® for his fourth appearance. For thirty years, Jonathan has been known for his personal finance writing: in his column “Getting Going,” which appeared in the Wall Street Journal over 1,000 times starting in 1994, on his website HumbleDollar.com, and in his many acclaimed books. About a year ago, Jonathan Clements was diagnosed with a rare form of lung cancer and was told he had about a year to live. Today we’re celebrating the fact that he is still here with us, and we’re inspired by his decision to use his precious time to launch The Jonathan Clements Getting Going on Savings Initiative. Tune in for your chance to receive a free Kindle copy of Jonathan’s new book, and learn how you can help Jonathan pay it forward for the next generation.
Just about every week here on YMYW, Joe and Big Al talk about converting your retirement savings to Roth accounts. But why? What’s the big deal? Today the “IRA guru” Ed Slott, CPA returns to tell us why he calls the Roth IRA “the greatest account ever created.” (Here’s a hint: it’s all about having tax-free income in retirement – and beyond.) Plus, where to prioritize saving for retirement? Jerry Tom in St. Louis wants to know. Are Christian and Tiffany in Montana on track for retirement, and should they rebalance their ETFs? Should Frank in Lake Wobegon’s wife take her teachers’ salary over 9 months or 12 months? And finally, Jon thinks the target retirement withdrawal rates Joe and Big Al use to spitball are too low – we’ll see what they think.
Is it better to save for retirement in traditional 401(k)s and IRAs, or in Roth accounts? What are the rules around contributing to two different types of Roth accounts? If required minimum distributions will be staggered because of a couple’s age difference, should they convert their retirement savings to Roth, or leave it alone? But first, Joe and Big Al have a backdoor Roth conversion withdrawal debate to settle.
As we continue marching towards a new year, there are several important things to keep in mind regarding your financial planning. These items may or may not make sense for you, but they are topics you should generally evaluate each year. Maximize Retirement Plan Contributions It is important to remember that while IRA and Roth […]
What is an exchange fund and is it a good thing if you have a lot of capital gains, like Bryan in New York? What should be the timing and ordering of Billy Joe and Bobby Sue’s Roth conversion strategy to help them achieve 33 years of retirement income? Is Boston overspending or underspending in retirement? Should Andy keep life insurance policies for her kids with ADHD? How does the 5-year rule for Roth withdrawals apply to inherited Roth IRAs for Karen?
What does retirement at age 60 look like for Allison in Northern Virginia, or for YMYW listeners Jimmy and Rosalynn in Georgia, who are using our free retirement calculator at EASIretirement.com? Ingrid is using the EASIretirement.com calculator too – is she able to contribute more than her annual income to her 403(b) and her Roth? Perry and his wife in Winston-Salem also have 403(b) plans, and they wonder if they should take the lifetime annuity or the managed payout in retirement. Finally, should Brad in Sarasota, Florida reserve his health savings account money for long-term care insurance?
We’re revisiting your favorite Your Money, Your Wealth® topics and Derails of 2023 in this Roth and retirement investing mega-episode. Safe investing when you’re risk averse, mutual funds vs. ETFs, stable value funds, and estimating retirement income needs when you’re a young saver with a pension made the YMYW best of 2023 on the investing side. On the Roth side, what to do when there’s too much money in your traditional IRA, whether Roth conversions are really as good as they sound, and who’s right about the Roth conversion strategy, our listener or his advisor?
Your last-minute tax questions answered: should Brad in Wahoo, NE save to his regular 401(k) instead of his Roth 401(k) so he can claim the American Opportunity Tax Credit? Should Jennifer and Zeke in NY set up a Roth IRA and file taxes for their 13-year-old who’s got some earned income? Does Cindy in San Diego have to report her Medicare Advantage over-the-counter medication benefit on her taxes? And should our buddy Carl Spackler wait until the new year to deposit his rollover check? Plus, Em in FL needs ideas for moving her Mom from a low-cost-of-living area to a high-cost-of-living area, Wannabe Landlord wonders about creating an LLC for his real estate, and can CJ in FL and IN report pro-rated real estate expenses on schedule E? Finally, the 5-year rule on Roth withdrawals once again, this time for Brutus Buckeye, and Bruce from Joisey is back, this time he wants to pay cash for a car.
How can Steve & Sharon in Minnesota get more money into their Roth IRA without paying more tax? That’s just one of our topics, today on Your Money, Your Wealth® podcast 455. Also, should Fred in western New York do Roth conversions before required minimum distributions (RMDs) kick in? If Mike in Utah saves on healthcare premiums now, will that mean large RMDs and tax bills later? Should Mark in Maryland do a backdoor Roth after maxing out his 401(k)? And should Joseph in Kansas contribute to his new employer’s Traditional or Roth 401(k)?
