Is the Backdoor Roth IRA a Good Strategy For You? - 314

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

🗓️ 23 February 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you eligible for a backdoor Roth IRA conversion? Is it taxed? How does a Roth 401k differ from a Roth IRA? Can you buy Mom’s condo for below market value & rent it back to her? Can you max out Dad's Roth? Can you file 2020 taxes before receiving IRS form 1098? How should you diversify your portfolio into international investments? Plus, capital gains and ordinary income, and a correction on deemed Social Security. Access the transcript & financial resources, ask money questions: https://bit.ly/YMYW-314

Transcript

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0:00.0	Are you eligible to do a backdoor Roth IRA conversion?
0:03.4	Is it allowed?
0:04.5	Is it taxed?
0:05.7	How does a Roth 401k differ from a Roth IRA?
0:08.9	Joe and Bigel answer these questions from Nick, Renee, Jane, and Helen today on Your Money,
0:13.7	Your Wells podcast number 314.
0:16.2	Plus, can Jay in Chicago buy a family member's condo for under market value and then rent it back to
0:22.1	them?
0:23.1	Can he max out his dad's Roth account?
0:25.3	Can Clint go ahead and file his 2020 taxes even though he hasn't received IRS Form 1098
0:30.6	yet?
0:31.4	How can Brian and Albany diversify his portfolio into more international investments?
0:37.1	And the fellows once again break down how capital
0:39.0	gains ride on top or are stacked on top or sit on top of ordinary income, this time for Jim
0:45.0	calling from Santa Cruz. And finally, Mark in Colorado has a correction regarding social security
0:50.9	deeming rules. I'm producer Andy Last, and here are the hosts of your money, your wealth,
0:56.0	Joe Anderson, CFP, and Big Al-Clobine CPA.
1:00.2	Hi, Andy, Big Allen, Joe.
1:01.9	My name is Nick and live in Huntington Beach, California, married with three kids,
1:05.7	1917, and three.
1:08.5	So I guarantee you Nick and the two older kids are surfers.
1:13.4	Huntington Beach is a huge surfing area.
	...

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