401(k) Ins & Outs, Roth Conversion Benefits, and Divorce Finances - 469
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 20 February 2024
⏱️ 51 minutes
🧾️ Download transcript
Summary
Erik in MN is divorced, and the OC Birdman of South OC is getting divorced. Should Erik contribute to pre-tax retirement accounts or Roth? How should the Birdman and his soon-be-ex time the sale of their house and the filing of their taxes? That’s today on Your Money, Your Wealth® podcast 469 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Don has questions about the 401(k) rule of 55 and excess 529 plan college savings. Valerie in Portland wants to know what to do with her old 401(k), and how to invest her new retirement accounts. An advisor tells K-Dog in IN to save cash or open a Roth, then live on those funds and get free ACA "Obamacare" healthcare in early retirement. Is that really possible? Also, what should be Laura in WA’s sequence of retirement withdrawals, and is there any benefit to her doing Roth conversions? Should RJ in CA convert his or his wife’s rollover IRA to the top of the giant 24% tax bracket? Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-469
Timestamps:
- 00:00 - Intro
- 01:06 - 401(k) Rule of 55 and Excess 529 Plan Funds (Don, Everywhere, USA)
- 06:03 - What to Do With Old 401(k) and How to Invest New Retirement Accounts? (Valerie, Portland, OR)
- 10:33 - 10 Steps to Improve Investing Success - free download
- Protecting Your Retirement Income - YMYW TV
- 11:39 - Is My Early Retirement Spending & Free Healthcare Plan Really Possible? (K-dog, Northern IN)
- 22:13 - Should I Contribute to Pre-Tax or Roth Post-Divorce? (Erik, Minneapolis)
- 28:27 - How to Sell House and File Taxes While Finalizing Divorce (OC Birdman in South OC)
- 32:27 - Q1 2024 Financial Markets Update Webinar, Feb 28, 2024, 12pm Pacific - register now
- 33:07 - What’s the Sequence of Retirement Withdrawals? I Don’t See the Benefit of Roth Conversions (Laura, Seattle - Olympic Peninsula)
- 40:42 - Roth Conversion to the Top of the Giant 24% Bracket? Which Rollover to Convert First? (RJ, Anaheim)
- 49:09 - The Derails
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Eric in Minneapolis is divorced, and the OC Birdman of South O.C. is getting divorced. |
| 0:06.3 | Should Eric contribute to pre-tax retirement accounts or Roth? How should the birdman, and is soon to be |
| 0:11.6 | X, time the sale of their house and the filing of their taxes? That's today on Your Money, |
| 0:16.8 | your wealth podcast number 469. Plus, Don has questions about the 401k rule of 55 and excess 529 plan college savings. |
| 0:26.5 | And Valerie and Portland wants to know what to do with her old 401K and how to invest her new |
| 0:31.1 | retirement accounts. |
| 0:32.6 | An advisor tells K-Dog in Indiana to save cash or open a Roth, then live on those funds and get free |
| 0:39.5 | health care in early retirement. Is that really possible? Also, what should Laura in Seattle's |
| 0:45.0 | sequence of retirement withdrawals be? And is there any benefit to her doing Roth conversions? |
| 0:50.3 | Should RJ and Anaheim convert his or his wife's rollover IRA to the top of the giant 24% tax bracket? |
| 0:58.1 | I'm producer Andy Last and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Out Clopline CPA. |
| 1:05.5 | Got Don from everywhere USA, must drive a little RV. |
| 1:10.6 | Did you read this in advance? |
| 1:12.4 | No, I didn't. |
| 1:14.5 | You wrote that. |
| 1:15.9 | Did he write that or did you write that? |
| 1:17.7 | Read on. |
| 1:18.6 | All right. |
| 1:19.7 | Hey, Andy, jumping out, my wife, and I love the show. |
| 1:23.8 | We listen on hikes, walks, long drives. |
| 1:26.0 | Just a couple quick questions for you. |
| 1:28.0 | Number one, |
... |
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