BIOGRAPHY
Andi Last brings over 30 years of broadcasting, media, and marketing experience to Pure Financial Advisors. Serving as Media Manager remotely, Andi is based in South Australia. She is Executive Producer of the Your Money, Your Wealth® podcast, manages the firm’s YouTube channels, and is involved in the production and distribution of the Your Money, Your Wealth® TV show.
Andi grew up in San Diego. Before joining Pure, she was Media Operations Manager for a San Diego-based financial services firm with a long-running, nationally syndicated financial advice TV and radio show.
Andi gratefully serves on the all-volunteer board of directors of Living LFS, a non-profit 501(c)(3) organization supporting those with Li-Fraumeni syndrome (LFS), a rare genetic predisposition to developing cancer.
Andi enjoys still photography, and her photos have appeared in national publications and on a Grammy-nominated record.
Andi and her husband Jay have been together since 2010. Sharing a passion for music, they produced and recorded a house concert series featuring live performances by professional touring musicians. The Lasts also play music themselves: their band has played ’60s garage rock for audiences of three in their living room, and tens of people have watched their music videos on YouTube.
Andi's Latest Contributions
“Walter and Skyler” in Iowa ask if they’re on track to retire early, or if they’re just “cooking up overconfidence?” And how aggressively should they convert their retirement savings to tax-free Roth money before the pension and Social Security kick in? California Dreamin’ has it down to one decision: convert to the top of the 22 percent tax bracket, or push into the 24? “Mike and Carol” in Florida ask, when you’re weighing a conversion, should you be looking at your tax bracket, or your actual effective tax rate? Finally, is it worth the cost for “Westley and Buttercup” to use the brand new option to turn a big employer contribution into Roth money?
When Should You Do Roth Conversions?
Roth conversions may be appropriate in the low-income window after you retire, but before Social Security benefits, pensions, or required minimum distributions begin, when your taxable income falls into a lower tax bracket. For example, if you will be in the 32% tax bracket or higher later in retirement, converting to the top of the 22% or 24% bracket before fixed income begins can prevent much larger RMD-driven tax bills later.
Frequently Asked Questions
Q: When is the best time to do Roth conversions?
A: The window between retirement and the start of Social Security and required minimum distributions, because your taxable income is at its lowest. Converting then locks in lower tax rates before RMDs push your income into higher brackets at 73 or 75.
Q: Should I convert to the top of the 22% or 24% tax bracket?
A: Many retirees convert to the top of the 22% bracket and opportunistically reach into the 24% bracket during market downturns. A down market lets you convert more shares at a lower value, and the recovery happens tax-free inside the Roth.
Q: What’s the difference between my marginal tax bracket and my effective tax rate for conversions?
A: Roth conversions are taxed at your marginal rate, the rate on your last dollar of income. Your effective rate is your average across all income. The key question is what bracket your future RMDs will land in, since deferring now can mean a much higher marginal rate later.
Q: Should I move my pre-tax 401(k) contributions to Roth?
A: It depends on your current bracket and how much you’ve already saved tax-deferred. If you have little Roth and expect large future RMDs, shifting contributions to Roth or using a mega backdoor Roth builds tax-free balances. Some prefer the upfront deduction and convert later.
Q: Can I move bonus or RSU money directly into a 401(k) or mega backdoor Roth?
A: Not directly. You increase your paycheck contributions so more salary flows into the plan, then cover your living expenses by drawing from the cash you set aside from bonuses or vested RSUs. It routes that money into tax-advantaged accounts indirectly.
Today on Your Money, Your Wealth® podcast number 585, Joe and Big Al spitball for folks who are already winning and thinking about getting fancy with it. Reno in Oregon is 50, and his pension is so big he’s not sure how to invest or why he would need to convert to Roth. Michael is considering taking out a half-million-dollar margin loan to juice investment returns. What do the fellas think? Tune in for the surprising debate. Husker Fans just pocketed two million from selling their business, and here come the product pitches: should they buy annuities, set up a charitable trust, or just swallow the tax? What do the fellas think of whole life insurance? And finally, John and Lib on Waltons Mountain – or rather, the Catskills – aren’t sure if they’ve saved too little or too much. Can they bridge the gap until their pension?
Heidi from the Space Coast of Florida found a money-saving tidbit in a past episode that completely changed how she thinks about her financial advisor’s fee, and Joe and Big Al expand on the strategy. Laverne and Shirley have four million bucks, Roth conversion questions, annuity questions, and a retirement plan so detailed it may require a diagram. Finally, Bess and George from Pure Michigan are already retired, already on Social Security, and already losing sleep over their investments. So why are they so stressed? Joe and Big Al’s debate about a 1% advisory fee gets a little spicy in that one.
