118: Retirement Planning During (and After) The Coronavirus with Kyle Mast

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 30 March 2020

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Kyle Mast is a Certified Financial Planner, back for his third episode to answer YOUR questions about our current market conditions. We ask him the questions YOU had on your mind, including rebalancing your portfolio, staying the course, and trying to time the market. We take a deep dive into the retirement planning system, including weighing the benefits of Roth plans vs a traditional plans, and even discuss whether converting pre-tax retirement funds into post-tax funds during this down market is the right choice for you. While this episode focuses more on the state of the stock market, we do discuss real estate investing, and considerations for whether you should jump in or hold back. As always, consulting your own tax advisor and financial planner is advised, but Kyle brings up some very interesting ideas to take advantage of this down market. In This Episode We Cover: What people should do on their asset allocation with the situation right now The best way to protect your net worth in this economy Talking about Roth contributions Contribution limits on a Roth 401k A good plan to start investing in stocks for a short-mid term leaving the Real Estate aside for a while Kyle's thoughts on 4% rule Kyle's thoughts on withdrawing Roth IRA contribution for down payment on a rental property What is a good use for Stimulus Check How can someone find a good estate planner or estate planning attorney The importance of estate planning And SO much more! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 41 BiggerPockets Money Podcast 84 BiggerPockets Podcast 374 BiggerPockets Money Podcast 116 Mad Fientist Dow Jones - DJIA - 100 Year Historical Chart | MacroTrends BiggerPockets Money Podcast 49 Mindy's email Scott's email Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In general, you just need to have your plan for the long term.
0:03.4	What are your goals?
0:04.4	You know, the time you want to spend with your family, the time you want to travel, the
0:07.2	amount of income you want to have, what you want to give away, that's what dictates
0:11.0	what you do during times like this.
0:12.3	It's not the times themselves.
0:14.4	It's where you want to go that should be dictating your decision making.
0:18.8	Hello, hello, and welcome to the BiggerPockets Money podcast. My name is Mindy Jensen, and with me as always
0:24.7	is my stimulating co-host, Scott Trench.
0:27.8	How's it going, Mindy?
0:29.2	Scott and I are here to make financial independence less scary, less just for somebody else, and
0:34.8	show you that by following the proven steps you can put yourself on the road to
0:38.6	early financial freedom and get money out of the way so you can leave your best life.
0:43.4	That's right, whether you want to retire early and travel the world,
0:45.9	navigate a coronavirus-induced crash,
0:48.8	or maybe possibly feature a session,
0:50.9	go on to make big-time investments in assets like real estate or start
0:53.8	your own business will help put you in a position capable of watching yourself
0:57.9	towards your dreams. Welcome to the BiggerPockets Money Podcast, episode number 118. Just a note we are
1:10.2	recording on Thursday, March 26th in the morning,
1:14.2	which is about four days before it's released.
1:16.3	So any revelations that came out over the weekend
	...

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