Learn how recent tax legislation and proposals impact you, your family, and your retirement savings, and strategies that can help you reduce your tax liability as you plan for a successful retirement. Pure Financial Advisors’ Tax Planning Manager, Amanda Cook, Esquire, CPA, and learn how to take advantage of tax-saving opportunities available to you. Outline […]
As the financial markets fall and then surge, Joe and Big Al talk about market timing, reallocating retirement contributions, and portfolio rebalancing. Plus, your questions answered on estimated taxes, Roth conversions, and the logistics of inheriting IRAs and passing assets on. Finally, how is a financial advisor like a golf caddie when markets get volatile? Joe and his Pebble Beach golf caddie buddy, Big G from the Real Life Caddie Podcast, discuss how their professional knowledge and experience can help the rest of us avoid big mistakes.
Will the Senate pass the SECURE Act 2.0, and will it require a Roth option for retirement savings? Plus, “pandemic unemployment” from the CARES Act and the earned income tax credit. Next, are you eligible to make Roth contributions, and should you contribute only to Roth for retirement? Then, the pros and cons of consolidating retirement accounts, and some early retirement spitball analyses. When you plan to retire early, should you invest in dividend-paying stocks or real estate? And finally, is the bucket investing strategy really that complicated?
What exactly are dollar-cost averaging and reverse dollar-cost averaging? Joe and Big Al explain as they answer questions about paying Medicare premiums with HSA funds, and ETFs vs mutual funds when dollar-cost averaging into small-cap value funds. Plus, why would you want to reduce the stock allocation in your emergency fund, and should a stable value fund be part of your portfolio? Is it possible to “re-identify” an inherited IRA as a spousal IRA to change the RMD calculation? Is the section 162 executive bonus plan just whole life insurance? And finally, Joe’s past comes back to haunt him with 9 cats, a neurotic beagle, and 200 IRAs.
You’ve saved money for a house downpayment. Should you invest it in the stock market until you’re ready to buy that property? Should a young saver take as much investing risk as possible, or buy a condo? Plus, the tax efficiency of robo-advisor brokerage account withdrawals, backdoor Roth conversions under the Build Back Better Act, using a charitable remainder trust to avoid inherited IRA tax under the SECURE Act, and listener comments on our pension and capital gains compilation episodes.
Should those in the 35% tax bracket contribute to traditional 401(k) or Roth 401(k)? Should a self-employed cryptocurrency investor do Roth conversions or tax gain harvesting? Also, a retirement spitball for a couple, age 35, wanting to retire with $5M at age 60. Plus, do the SECURE Act rules for required minimum distributions (RMDs) apply when inheriting an inherited IRA? Finally, comments on some of the proposals in the latest version of the Build Back Better Act, which is currently being considered by the Senate.
Asset location: how to position assets to pay less tax without sacrificing investment growth? Should young folks contribute all of their retirement savings to Roth accounts? Also, conversations (not advice) on a self-employed defined benefit plan vs. pass-through profits, gifting tuition for education, making Roth conversions with a special needs child in mind, a correction on inherited Roth IRAs, and plenty of entertaining listener comments and Derails.
Question: I’m 46 and I want to start doing Roth conversions. Should I wait until I retire to avoid paying higher taxes or are there issues with putting it off? Watch the full episode, SECURE Act Savvy Make sure to subscribe to our channel for more helpful tips and the latest episodes of “Your Money, […]
Question: I’d like to retire next year at age 56, but I’m concerned that the tax penalty will eat away at my retirement account. Any suggestions? Watch the full episode, SECURE Act Savvy Make sure to subscribe to our channel for more helpful tips and the latest episodes of “Your Money, Your Wealth.”
Probably the biggest change in the SECURE Act was the repeal of the Stretch IRA. This provision used to allow your non-spousal beneficiaries (such as your kids or other beneficiaries that are not your spouse) to stretch their required minimum distributions over their lifetimes. Beginning in 2020, a beneficiary IRA must be depleted within 10 […]
Congress passed the largest retirement savings reform in more than a decade in December of 2019 when they passed the SECURE Act, the Setting Every Community Up For Retirement Enhancement Act. The Pension Protection Act in 2006 was the last major change. What do the SECURE Act changes mean for you, your ability to save […]
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.
Answering questions across the financial and retirement spectrum, with topics like when your traditional IRA is growing faster than you can convert to Roth, consolidating retirement savings, annuities, the SECURE Act and inherited IRAs, undoing SEP-IRA contributions, Roth conversions after age 72, offsetting conversion gains against tax-harvested losses, tax diversification beyond conversions, and what to […]
What Might Biden or Trump Mean for Your Taxes? Your Money, Your Wealth® Tax Law Update Webinar and Q&A
What might a Joe Biden presidency mean for your taxes? Learn about Biden’s proposed changes to the current tax laws, and how the provisions from Donald Trump’s CARES Act Coronavirus stimulus package and the SECURE Act affect your taxes and retirement planning. On August 26, 2020, Joe Anderson, CFP®, Big Al Clopine, CPA, and YMYW […]