12-1-2021: Congress Wants to Kill The 'Backdoor Roth IRA'
InvestTalk
Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors
4.4 • 1.5K Ratings
🗓️ 2 December 2021
⏱️ 46 minutes
🧾️ Download transcript
Summary
Starting next year, a House-passed bill would prohibit all taxpayers from converting their after-tax contributions using the "backdoor" method to a Roth IRA.
Today's Stocks & Topics: I-Bonds, Inflation, Modern Monetary Theory, PLBY - PLBY Group Inc., T - AT&T Inc., New Investor, HEAR - Turtle Beach Corp., Ethereum Cryptocurrency, WU - Western Union Co., RKLB - Rocket Lab USA Inc., The Infrastructure Bill.
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Transcript
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| 0:00.0 | Now, I'm this and Vest Talk Podcast. Justin Klein listens to your questions. |
| 0:08.0 | Hi, this is Katie Culling from San Diego. I am calling about a company called Rocket Lab, |
| 0:15.0 | R-K-L-B. I'd love to hear your thoughts on a stock if you guys get a chance. Thanks for all the |
| 0:20.0 | help. And provides unbiased answers. Of all the industries that I've railed on in the |
| 0:28.0 | Ponzi sector and the story stocks, I think the space sector is probably the one that |
| 0:36.0 | makes me most perplexed. In Vest Talk, over 36 million downloads and counting across |
| 0:45.0 | America and around the world, your participation makes it unique. 888-99 chart. |
| 0:57.0 | This podcast is produced by KPP Financial, Steve Peasley President, KPP Financial, |
| 1:05.0 | Independent Thinking, Shared Success, and out today's podcast. |
| 1:10.0 | Good afternoon fellow investors and welcome to Vest Talk. This is our December 1, 2021 edition of |
| 1:22.0 | Vest Talk. Yes, it is December. We're in the final stretch of the year. And in about a month, |
| 1:31.0 | we're probably going to celebrate a new year with some fireworks. But today in the markets, |
| 1:37.0 | we also had some fireworks. And I'm going to start off giving you a little bit of my perspective, |
| 1:45.0 | because I think that's probably what most people want in a day like this or after a day like this with the |
| 1:52.0 | S&P down 53 points, which in the grand scheme of things was little over 1% not that big a deal. |
| 1:58.0 | But you look at the NASDAQ that was down 283 points, almost 2%. Then you go over to Morningstar, |
| 2:06.0 | you look at large cap growth, mid cap growth, all down about 3% overall. |
| 2:12.0 | Definitely some outperformance and the value side of the market, large cap value only down about |
| 2:17.0 | 1.5% there. And really what you're seeing is the impact of the threat, just a simple threat of the Fed pulling away |
| 2:28.0 | the punch bowl. And that's really what Jerome Powell talked about yesterday was saying, hey, |
| 2:35.0 | inflation is no longer transitory. We can retire that word and hinting that maybe there might be an acceleration |
| 2:44.0 | in the tapering process, meaning not just $15 billion a month, but maybe increasing that. |
... |
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