Should market volatility and the economic downturn due to the COVID-19 pandemic change where you save for retirement? Should contributions go to pre-tax accounts or to post-tax Roth accounts? Plus, Coronavirus related distributions, how to use a PPP loan to pay your self-employed self, backdoor...
The windfall elimination provision (WEP), government pension offset (GPO), and spousal Social Security benefits. Also, Roth IRA conversions and Medicare, Roth conversions from a thrift savings plan (TSP), and conversions to buy real estate. Plus, asset location and other tax planning strategies beyond Roth IRA...
Financial planning strategies around Coronavirus-Related Distributions from retirement accounts and required minimum distributions (RMDs). Plus, listener corrections on dependents and the CARES Act stimulus package. Also, two very different market volatility strategies: living off of cash and Social Security only, and leveraging a home equity...
A mixed bag of questions on everything from spousal solo 401(k) contributions and renaming inherited IRAs to real estate buying strategies (should you cash out the 401(k) to buy a house?) and a perennial fan-favorite, ripping on annuities. Plus a healthy dose of Roth conversion planning thrown in the middle. Subscribe to the YMYW podcast […]
What types of investments you keep in your taxable, tax-deferred and tax-free accounts can play a big part in how much tax you pay over time. In this episode, Joe and Big Al break down asset location and answer some of your tax planning questions. As always, the fellas also talk strategy when it comes […]
In this jam-packed episode of the Your Money, Your Wealth® podcast, stimulus payments for self-employed, dependents, and those who message us on Facebook, plus, the paycheck protection program, coronavirus-related distributions, Roth and Backdoor Roth conversions, tax-loss harvesting, and the solo 401(k). Subscribe to the YMYW podcast Subscribe to the YMYW podcast newsletter FOLLOW US: YouTube […]
In these volatile markets, pitches for fixed indexed annuities will be on the upswing. Here’s how to analyze them for yourself. Plus, CARES Act stimulus payments for kids, retirement account distributions, and rethinking your retirement savings strategy. Also, SECURE Act stretch IRA rules, evaluating long term care insurance options, and why thrift savings plan (TSP) […]
Breaking down Roth IRA conversion pro-rata rule considerations with RMDs on an inherited IRA, Roth conversion tax bracket planning to account for the loss of a spouse, and the state income tax impact on Roth conversions. Plus, Roth IRA contribution and conversion limits, what to do about earnings on a reversed excess IRA contribution, how […]
The CARES Act Coronavirus stimulus package: Today we discuss recovery rebates, new rules for retirement account distributions, stimulus checks for those on Social Security and unemployment benefits. Plus, should a listener invest his forbearance, buy foreclosures, and capitalize on the financial crisis? We also get into the cash-on-cash math for rental real estate and potential […]
In these volatile financial markets, are you reconsidering your investing strategies? Joe and Big Al discuss where and when to invest cash, selling stocks in taxable accounts and repurchasing them in tax-deferred accounts, doing nothing and staying globally diversified, writing an investment policy statement, rebalancing more frequently, and doing Roth conversions, as well as fixed […]
If you’re in the 22% tax bracket, does 22% of what you make go to the IRS? How does capital gains tax work with ordinary income tax? Joe & Big Al explain how tax brackets work and they answer your Roth contribution and Roth conversion questions: like what’s the point of a Roth conversion if […]
Tax-loss harvesting, Roth conversions and more: Joe and Big Al explain how bear markets are the time to utilize these investing strategies in your retirement portfolio. And the fellas go over those Roth IRA 5-year withdrawal rules – again. They also cover some Roth withdrawal mistakes and Roth rollover consequences, and they have a mea […]
When to do a Roth IRA conversion, the pro-rata and aggregation rules, spousal conversions, Roth contributions and more. Subscribe to the YMYW podcast Subscribe to the YMYW podcast newsletter FOLLOW US: YouTube | Facebook | Twitter | LinkedIn Free Financial Assessment Show Notes (00:23) Can I Do a Spouse to Spouse Roth Conversion? (02:11) Should I Go […]
With volatility, should you time the market and change the asset allocation of your investment portfolio, your pension, or your Thrift Savings Plan (TSP)? Plus, asset location: should equities be in a brokerage account, Roth IRA or traditional IRA? And diversification vs. concentration, calculating how much you’ll have in retirement, how to get there from […]