Can We Retire Early? Investing and Retirement “Rothification” - 373

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 12 April 2022

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Will the Senate pass the SECURE Act 2.0, and will it require a Roth option for retirement savings? Plus, “pandemic unemployment” from the CARES Act and the earned income tax credit. Next, are you eligible to make Roth contributions, and should you contribute only to Roth for retirement? Then, the pros and cons of consolidating retirement accounts, and some early retirement spitball analyses. When you plan to retire early, should you invest in dividend paying stocks or real estate? And finally, is the bucket investing strategy really that complicated? Podcast show notes, free financial resources, Ask Joe & Al On Air: https://bit.ly/ymyw-373

Transcript

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0:00.0	Today on Your Money, Your Wealth podcast number 373, will the Senate pass the Secure Act 2.0,
0:06.0	and is it going to require a Roth option for retirement savings? Plus, pandemic unemployment
0:12.0	from the CARES Act and the Earned Income Tax Credits. Next, are you eligible to make Roth
0:16.9	contributions and should you contribute only to Roth for retirement?
0:25.5	Then the fellas get into the pros and cons of consolidating retirement accounts and a couple of early retirement spitball analyses.
0:28.1	Should you invest in dividend paying stocks or real estate for your early retirement?
0:32.3	And finally, is the bucket investing strategy really that complicated?
0:37.2	I'm producer Andy Last and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al-Clobein CPA.
0:45.4	Um, what did we got, Brian from Queens?
0:47.8	Hey, it's Brian from Queens. Super quick question.
0:50.4	My 403B plan only offers pretext.
0:53.2	Although it seems most 401K, 403B and 457s are now offering the Roth option, the Secure Act 2.0, if it passes, says that the age 50 and older catch-up contributions must be put into the Roth. That being said, must any of these retirement plans not currently offering the Roth option be forced to start offering it?
1:12.9	Or to age 50 and older employees in those pre-tax only plans get cut off at the 20,500, unable to do the age 50 catch-up.
1:23.0	Curious on your thoughts?
1:25.0	Very good question, Brian.
1:26.8	Excellent question.
1:28.2	So the Scare Act 2.0 just passed the Senate.
1:32.6	It passed the House.
1:33.3	It needs to go to the Senate.
1:35.1	Correct.
1:35.4	It passed 414 to 5.
1:37.6	So I would say it's likely that the Senate may pass it.
	...

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