2.3 • 681 Ratings
🗓️ 29 September 2020
⏱️ 45 minutes
🧾️ Download transcript
Are you screwing up your Backdoor Roth IRA conversion? Find out. Plus, tax on mega-Backdoor Roth conversions, Medicaid spend-down rules and your Roth IRA, and Joe and Big Al take a burning confession about Roth conversions and IRS form 8606. Also, more on Vanguard’s VTSAX and dividend yield, and various options for investing for minor kids including Paul Merriman's suggestions, UTMA, and brokerage accounts. Access transcript and financial resources, and send in money questions: https://bit.ly/YMYW-293
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0:00.0 | Today on your money, your wealth, are you screwing up your backdoor Roth IRA conversion? |
0:06.0 | Joan Big Al will help figure it out. |
0:08.1 | Plus, confirming taxation on a mega backdoor Roth conversion, Roth contribution limits, and selling investments, |
0:14.6 | and how the Medicaid spend-down rules affect your Roth IRA. |
0:18.6 | We have yet more discussion on Vanguard's VTSAX and dividend yield, |
0:22.6 | and the fellows will look at various options for saving and investing for minor children and |
0:27.3 | grandchildren. But first, Joe and Big Al take a burning confession about Roth conversions. |
0:32.9 | Click Ask Joe and Big Al in the podcast show notes at Your Money, Your Wealth.com to send in Your Money |
0:37.9 | Questions. And don't forget to tell us all the irrelevant stuff, like what you drive |
0:42.1 | and whether your cat or dog listens to YMIW with you. I'm producer Andy Last, and here are the hosts |
0:47.6 | of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al Clopine CPA. |
0:53.5 | We got John from Vancouver, USA. |
0:57.6 | I didn't know there was Vancouver in the United States of America. |
1:02.2 | Vancouver, Washington. |
1:03.7 | I thought that, oh, really? |
1:06.3 | Yeah, as opposed to Vancouver, Canada. |
1:09.4 | I was thinking that's why he specified. Well, I understand to Vancouver, Canada. I was thinking Canada. |
1:12.5 | Yeah, that's why he specified. |
1:13.9 | Well, I understand. |
1:15.1 | So we know. |
1:23.1 | Fellas, we, my terrier, Finnic, and I enjoy your podcast or on our evening walks. |
1:23.8 | All right. |
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