Change of Roth Plans for the New Senior Tax Bonus? Tax-Loss Wins? - 554
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 4 November 2025
⏱️ 35 minutes
🧾️ Download transcript
Summary
Should the new temporary senior tax deduction change your Roth conversion strategy? Joe and Big Al spitball for Chris in Maple Grove, Minnesota, who wonders whether to keep converting to Roth now that the $6,000 Senior Bonus deduction phases out with higher income, today on Your Money, Your Wealth® podcast 554 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Teri from Salt Lake City's broker has amassed $60,000 of losses in Teri's $1.1 million account due to tax-loss harvesting. When is enough… enough? Windy Chicago in Chino Hills, California, wonders what to do about their cost basis vanishing after transferring mutual funds to Vanguard, and Larry and Sally from Michigan are planning for retirement while facing significant health challenges. Can they afford to bridge the healthcare gap and still retire safely?
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Chapters:
00:00:00 - Intro
00:00:56 - Should We Stop Roth Conversions for the New $6,000 Senior Bonus Tax Deduction? (Chris, Maple Grove, MN)
00:07:44 - Lost Cost Basis After Moving Funds to Vanguard. Now What? (Windy Chicago, Chino Hills, CA)
00:10:21 - Tax Loss Harvesting: When Is It Too Much? (Teri, Salt Lake City)
00:18:49 - Can We Retire with Rising Health Costs and Care Needs? (Larry & Sally Morgan, voice)
00:33:34 - Outro: Next Week on the YMYW Podcast
Transcript
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| 0:00.0 | Should the new temporary senior tax deduction change your Roth conversion strategy? |
| 0:05.1 | Jo and Big Al Spitball for Chris in Maple Grove, Minnesota, who wonders whether to keep converting |
| 0:09.7 | to Roth now that the $6,000 senior bonus deduction phases out with higher income. |
| 0:15.0 | That's today on Your Money, Your Wealth Podcast No. 554. |
| 0:18.6 | Terry from Salt Lake City's broker has amassed $60,000 of losses in Terry's |
| 0:23.6 | $1.1 million account due to tax loss harvesting. When is enough? Enough. Windy Chicago in Chino |
| 0:30.6 | Hills, California, wonders what to do about their cost basis vanishing after transferring mutual |
| 0:35.6 | funds to Vanguard. And Larry and Sally from Michigan are planning for retirement while facing significant health |
| 0:41.3 | challenges. |
| 0:42.3 | Can they afford to bridge the health care gap and still retire safely? |
| 0:46.4 | I'm executive producer Andy Last and here are the hosts of your money, your wealth, the other |
| 0:50.9 | two-thirds of Java, Julie Anderson, CFP, and Big Al Cropine CPA. |
| 0:56.0 | Now, let's kick it off, Big Al. |
| 0:58.3 | Okay, left two. |
| 0:59.8 | In Maple Grove, Minnesota. |
| 1:02.3 | You know, Maple Grove is where Ruthie lives. |
| 1:05.2 | Oh, is that right? |
| 1:06.5 | That is correct. |
| 1:07.6 | So this is kind of near and dear to your heart then. |
| 1:09.9 | Oh, I bet they're neighbors. |
| 1:11.5 | Yeah, probably, probably, yeah. |
| 1:13.5 | Right around the same age. |
... |
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