How to Avoid a Tax Time Bomb: Retirement Plan Spitball Analysis - 327

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

🗓️ 25 May 2021

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Maxing out Roth IRA, 457, and HSA - check. Pension - check. What else do you need for retirement planning? How do pension and Social Security fit into your fixed income portfolio mix? Should you be more aggressive with Roth conversions? Is a 5% equities growth rate good for early retirement plans with inflation? Will a Spousal Lifetime Access Trust (SLAT) protect assets from a tax time bomb? Plus a SECURE Act 2.0 overview. Transcript, financial resources, ask your money questions at https://bit.ly/YMYW-327

Transcript

Click on a timestamp to play from that location

0:00.0	Today on Your Money, Your Wealth podcast number 327. It's another round of YMIW retirement plan
0:07.0	spitball analysis. John's maxing his retirement savings and he's got a pension. What else should he be doing?
0:13.0	And how do 40 chickens figure into his plans? How should James in Arizona incorporate his pension
0:18.5	and social security into his equity and fixed income
0:21.5	portfolio mix.
0:23.1	Should Dustin from Minneapolis be more aggressive with Roth conversions?
0:27.0	With inflation, should Diego be using a 5% equity's growth rate in his early retirement
0:32.3	plans?
0:33.4	Should Hawk and Lady Hawk in Scottsdale be using a spousal lifetime access trust to protect their assets from a tax time bomb?
0:41.3	Plus, a brief overview of the Secure Act 2.0 bill passed by the House Ways and Means Committee last week.
0:47.6	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al Clopine CPA.
0:55.7	All right. Hello, Joe, and Big Al. I'm 36, Yao.
1:01.2	I have to grab a 2012 Civic and have put 284,000 miles on it since I bought it new.
1:08.2	No pets, but I have 40 chickens at one time prior to COVID.
1:13.4	What the hell is wrong with you?
1:15.1	40 chickens?
1:16.6	He likes eggs, I guess.
1:18.8	John doesn't specify where he lives.
1:20.7	He might be someplace where 40 chickens make sense.
1:23.8	I could say something.
1:26.1	I will have a public pension that will replace 88% of my income in 57.
1:32.6	No dad, home is paid off.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Your Money, Your Wealth, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Your Money, Your Wealth and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.