Don't Do Any Roth Conversions Before You Ask Yourself THIS

Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)

Ari Taublieb, CFP®, MBA

Entrepreneurship, Investing, Business, Careers, How To Retire, Retirement Planning, Stock Investing, Real Estate Investing, Retirement, Personal Finance, Save On Taxes, Early Retirement

4.7 • 583 Ratings

🗓️ 16 September 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

I often hear someone say "How much and when should I convert my assets to Roth?" when in reality the question should be "How can I live my ideal retirement and minimize taxes along the way?" Two very different questions. Create Your Custom Early Retirement Strategy Here Get access to the same software I use for my clients and join the Early Retirement Academy here Ari Taublieb, CFP ®, MBA is the Chief Growth Officer of Root Financial Partners and a Fiduciary Financial Planner special...

Transcript

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0:00.0	My pet peeve is when people go like this. I think I could get away with spending 8,000 a month
0:06.0	in retirement. I could get away with only one trip in retirement internationally.
0:11.6	Retirement is not about getting away with anything. And I will be the first person to tell someone,
0:16.2	I really want you to work two more years so you can actually spend what you want the rest of your
0:20.7	life. And I'll be the next person to say, why the heck are you working? You told me you really want you to work two more years so you can actually spend what you want the rest of your life
0:21.0	and i'll be the next person to say why the heck are you working you told me you did not want to die
0:25.7	with 10 million dollars so what are you doing i will be both of those people and i joke that i'm the
0:31.7	meanest advisor i'm not actually mean i just want to make sure you don't run the risk of running
0:36.4	out and you also are not mad at
0:38.8	me when you're 80 with $10 million going, hey, why didn't I spend more along the way if I was in a
0:44.2	fine spot to do so? So today's episode is about me going over the biggest risk that people make
0:51.0	when I really see it, and this is on a consistent basis, that is not, should I do Roth or pre-tax or any, hey, umbrella insurance to what level of a policy do I need?
1:03.1	I have plenty of episodes going into specifics on that.
1:06.1	Today is the number one biggest thing that I see people struggle with, and I'm going to explain it in just a
1:12.1	second for you guys, which is understanding when to optimize and when not to, because this is a
1:17.6	common, common mistake. Now, if you don't already know, my name is Ari Talbib. I am the host of
1:22.6	the early retirement podcast. If you're listening on the podcast app, great. I'm going to continue to put all these episodes
1:29.0	out there. If you're watching on YouTube right now, you can see on my screen the most recent
1:34.5	review that I'm going to go over right now. Now, this was a day before my birthday. My birthday is July 24th.
1:39.9	So this person says, this is Iggy Dad 6.8. I enjoy Ari's approach to the topics he covers.
1:46.1	And as someone in his mid-50s, I think this is one of the best timely and informative sources for those of us focused on an early retirement.
1:53.2	Thank you very much, Iggy Dad 6-8 for that review, should I say.
	...

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