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InvestTalk

12-1-2021: Congress Wants to Kill The 'Backdoor Roth IRA'

InvestTalk

Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors

News Commentary, Business News, Business, Investing, News, Entrepreneurship

4.41.5K 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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