Asking yourself these important questions before retiring helps rule out any unwanted surprises. Joe and Al dig into the email bag to answer your questions.
2:48 “When you use debt properly, it can actually be pretty effective.”
9:32 “Here are 18 questions to ask yourself before you retire…let’s start with the first one: what does being retired mean to you?”
13:02 “Absolutely make sure you communicate what your retirement vision looks like to your spouse.”
16:58 “What would you like to add to your life and eliminate from your life?”
20:19 “How do you feel about downsizing? A lot of our equity and net worth is pent up in our home.”
25:06 “Should I recharacterize my Traditional IRA contributions to a Roth IRA?”
26:12 “Virtually anyone that’s working and has earned income can do a regular IRA contribution as long as you’re under 70 ½, however here are a couple stipulations…”
27:31 “If you’re single and your income is in between $118,000 and $133,000 you can do a partial Roth contribution.”
28:48 “You can do a Roth conversion regardless of your income level and age, and you don’t have to be working.”
30:33 “Recharacterization means you’re undoing your contribution that you made.”
31:36 “Control is everything when it comes to your money in retirement, because in retirement you actually do have more control over how much you pay in taxes [according to] which accounts you take money out of, and each account may be taxed differently.”
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