Is My BF BSing Me on RMDs? Required Minimum Distributions Explained - 378

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

🗓️ 17 May 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Required minimum distributions: how do they work, when do you have to take them, and do Roth IRAs have RMDs too? Plus, were the fellas being misleading when they talked about claiming Social Security early vs. late if you save and invest the benefits? Listen for their rebuttal. When you change 401(k) custodians, is it a transfer, or a whole new plan? Can you convert your entire 401(k) to Roth, and should you? Finally, If you’re worried about high tax brackets in retirement, should all your contributions now go to Roth? Show notes, free financial resources, Ask Joe & Al On Air: https://bit.ly/ymyw-378

Transcript

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0:00.0	You've been saving all your life.
0:01.5	And now, as you approach retirement, you'll find out that whether you want to or not,
0:05.2	at a certain age, you've got to take out a certain amount of money from those accounts each
0:09.0	year or pay half the fines.
0:10.8	Today on Your Money, Your Wealth Podcast number 378, Joe and Big Al explain required
0:16.5	minimum distributions.
0:18.2	How do they work?
0:19.2	When do you have to take them?
0:20.4	And do Roth IRAs have
0:21.4	RMDs too? Plus, where the fellas being misleading when they talked about claiming Social
0:26.3	Security early versus late if you save the benefits. Listen for their rebuttal. When you change 401K
0:32.3	custodians, is that a transfer or a whole new plan? Can you convert your entire 401k to Roth and should you?
0:39.9	Finally, if you're worried about high tax brackets in retirement,
0:43.1	should all of your contributions now go to Roth?
0:45.6	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth,
0:49.7	Joe Anderson, CFP, and Big AlcoPPPPPAN CPA.
0:53.7	Answering Your MoneyWalth.com, click on Ask Joe and L Alco Pines CPA. Answering your money questions.
0:55.3	Go to your moneywet.com.
0:56.5	Click on Ask Joe and L on the air.
0:58.6	We'll answer them right here.
1:00.3	Sometimes that button works.
1:01.6	Sometimes it doesn't.
	...

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