A Clean Backdoor Roth Conversion
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 31 March 2021
⏱️ 11 minutes
🧾️ Download transcript
Summary
When it comes to doing a backdoor Roth conversion, it really helps to have things cleaned up, and that doesn't always mean you have to pay a bunch of taxes in the process.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Welcome to the Jill on Money podcast. It is Wednesday March 31st, the end of the first |
| 0:10.3 | quarter. As I reminded you guys yesterday, time to do that rebalancing. If you don't have |
| 0:15.4 | it done automatically for you, also a great time that if you've done your taxes and you're |
| 0:20.9 | doing your rebalancing, maybe take a look at your investments and make sure they're aligned |
| 0:26.9 | with your financial goals. What a mysteriously great idea. That is Jill. I was on my friend, |
| 0:33.8 | my friend Moche had what a what I do market. It's not really a podcast. What I do for him. |
| 0:38.7 | Oh, I did an Instagram live. That's what I did. Oh, no. With my friend Moche, he used to |
| 0:43.9 | work at CBS News and he just did like this rapid fire questioning. And every time he asked |
| 0:48.9 | me a question, like, what's the rule of thumb on this? I said, there's no rule of thumb. |
| 0:52.4 | And I knew that he was getting kind of like, oh, come on. I need to give rules of thumb. |
| 0:56.1 | There's no rule of thumb. It's like asking me to tell you, like, what's the best practice? |
| 1:00.2 | I'm a 42 year old man. What should I do for my fitness? I mean, I don't know where to just start. |
| 1:06.8 | What are you trying to do? What are your goals? What are your objectives? So I feel like this is |
| 1:11.8 | the time of year to really make a difference gang. Again, tax time, end of quarter, investments, |
| 1:19.8 | probably doing pretty darn well overall. How about taking a deep breath and say, how are we doing |
| 1:25.7 | with our financial goals and objectives? That's what I want you to think about. That's |
| 1:30.5 | such a great goal in general, just to say, let me shift away from this transaction called |
| 1:35.4 | the investment side of my life to the, hey, financial planning. Am I talking like a certified |
| 1:41.8 | financial planner? That's because I am. And so is Mark. And we want to help direct you and guide |
| 1:46.6 | you and coach you to get to the best possible outcomes for you. If you've got a financial |
| 1:52.2 | question, send us an email, ask Jill at Jill on money dot com. If you're on our website Jill |
| 1:58.2 | on money dot com, you can just hit the contact button. Don't forget to tell us if you'd like to |
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