How to Take the Uncertainty of Taxes Off the Table - 474

Your Money, Your Wealth

Business News, Education, News, Investing, Business

4.6 • 794 Ratings

🗓️ 26 March 2024

⏱️ 54 minutes

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Summary

Jimmy in Wisconsin will have a pension, Social Security, and a seven year retirement shortfall. How should he cover it? Skipper in Texas has some unusual pension options, which makes the most sense for his retirement needs? That's today on Your Money, Your Wealth® podcast 474 with Joe Anderson, CFP® and Big Al Clopine, CPA. Should Mike and Carol in Virginia wait to do Roth conversions if they'll be in a lower tax bracket in retirement? Where should Duncan in Texas invest in the 10 years before he retires early? Would it be stupid for Jay Z in Minnesota to miss out on free Roth opportunities? Can Ben in San Francisco's "friend" use the rule of 55 on a rollover retirement plan? And finally, YMYW is fun, but of limited value, according to a recent review. Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-474

Timestamps:

00:51 - Pension & Social Security: How Should We Cover Our 7 Year Retirement Shortfall? (Jimmy, WI)
08:17 - 2:1 Matched Company Money vs. My Contribution: What to Do With My Pension? (Skipper, TX)
15:46 - EASIretirement.com free retirement calculator
16:47 - Should We Wait on Conversions If We'll Be in a Lower Bracket in Retirement? (Mike & Carol, Falls Church, VA)
24:22 - Where Should I Invest My Early Retirement Savings for the Next 10 Years? (Duncan, TX)
30:18 - Is It Stupid to Miss Free Roth Opportunities? (Jay Z, MN)
37:46 - Complete Roth Papers Package - free download
38:33 - Rule of 55 on a Rollover Retirement Plan? (Ben, San Francisco)
44:34 - Comment: Fun but limited value (Wemby2024)
50:41 - The Derails

Transcript

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0:00.0	Today on Your Money, Your Wealth podcast number 474, Jimmy in Wisconsin will have a pension,
0:05.2	Social Security, and a seven-year retirement shortfall.
0:08.3	How should he cover it?
0:09.9	Skipper in Texas has some unusual pension options, which makes the most sense for his retirement
0:15.1	needs.
0:15.9	Should Mike and Carol in Virginia wait to do Roth conversions if they'll be in a lower tax bracket in retirement?
0:22.4	Where should Duncan in Texas invest in the 10 years before he retires early?
0:26.9	Would it be stupid for Jay Z in Minnesota to miss out on free Roth opportunities?
0:31.8	Can Ben and San Francisco's friend use the rule of 55 on a rollover retirement plan. And finally, YMIW is fun, but of limited
0:40.8	value, according to one recent review. I'm producer Andy Last, and here are the hosts of
0:45.2	your money, your wealth, Joe Anderson, CFP, and Big Al Clopine CPA. We got Jimmy from Wisconsin.
0:53.0	Remember Jimmy from Wisconsin?
0:54.5	Yes, isn't that your cousin?
0:56.0	Yeah, this is not my cousin.
0:57.3	This is another one, huh?
0:58.2	Okay.
0:58.6	Yeah, this is nowhere near my cousin.
1:01.2	Okay.
1:02.1	I got a spitball for Joan L.
1:04.6	First, I would like to thank you for his advice.
1:09.4	From several years ago, he suggested to someone go on Roth all the time.
1:14.0	Do you remember that?
	...

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