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Money Guy Show

Is Roth Going to DIE?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 22 September 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Are BIG changes coming to income tax rates, capital gains, and retirement accounts? Let's talk through the proposed tax legislation and how it could affect your personal finances. We'll break down what you need to know and what you need to do to prepare. After that, we'll answer your financial questions live from the chat! Subscribe on YouTube! Download FREE Financial Resources from the show Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

is Roth going to die and other components of the American family's plan.

0:04.8

It's Brian Preston, the money guy, restoring order to your financial chaos,

0:10.8

retirement, investing, taxes. You've got financial questions, he's got financial answers.

0:17.2

It's Brian Preston, the money guy.

0:20.8

Yeah, Brian, this is a show. Now, look, I know this doesn't happen very often.

0:24.8

I don't know that I'm super excited about this. Well, let me rephrase.

0:28.9

I am excited about this because I'm excited because we're going to get to educate you guys on

0:33.1

some potential legislation that's coming down the pipe. But man, there are a few things in here

0:37.7

that are going to hit some of our financial mutants, brother. Yeah, you guys know, we don't do politics,

0:44.2

but it is one of those things where when tax policy swerves into our lane, we have to cover it.

0:48.9

So you guys know, how is this going to impact your savings, your investments?

0:54.4

And I will tell you this legislation definitely impacts financial mutants because what we tell you

0:59.6

to do all the time is if you pay attention to what we teach, your money is going to go four to 10%

1:06.7

greater than your peers, just because you're going to be better with it. And I got to tell you,

1:10.4

somebody out there on the audience, you shared our secrets. I mean, it is, it's kind of sad to me

1:17.5

because I felt the same way. Somebody knew enough about financial planning that they're like,

1:23.4

hey, when we're crafting this thing, it's such a small subsection of the people who use the tax code,

1:28.4

but let's get them. I think they said, hey, you go check the money guys show for these secret

1:32.4

strategies of the wealthy and we're going to start just asking some of that stuff.

1:35.6

So let's jump into this thing. I kind of like to talk about some of the key components of the

1:39.7

legislation. Then is the headline that we put up there? I want to go deeper into retirement accounts,

1:45.6

specifically Roth because I think a lot of people are curious. Does this mean Roth IRAs,

...

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