Market Timing Retirement Withdrawals and Roth Conversions - 488
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 30 July 2024
⏱️ 49 minutes
🧾️ Download transcript
Summary
Is timing the market when you withdraw money from your retirement accounts or do Roth conversions an effective strategy to minimize tax and maximize returns for YMYW listener Robert? That’s today on Your Money, Your Wealth® podcast 488 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, should Doug change his 60/40 asset allocation, and should he start a solo 401(k)? Jefe plans to withdraw from his retirement accounts beyond the top of the 24% tax bracket for the first few years of retirement. Is there any reason to put it in a brokerage account rather than converting it to Roth? The fellas also spitball on Roth conversion methods and strategies for Srinivas, Todd, and Debbie, and JZ in California, and they spitball on JZ in New York’s “bucketing” strategy for early retirement withdrawals. Free financial resources and transcript: https://bit.ly/ymyw-488
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Timestamps:
00:00 - Intro
01:42 - Is This the Correct Way to Convert to Roth and Avoid IRS Penalty? (Srinivas, Chicago)
06:51 - Deposit Withdrawals Above Our Tax Bracket in Taxable Account or Do Roth Conversions? (Jefe, TX)
10:12 - Should I Change My Asset Allocation? Should I Start a Solo 401(k)? (Doug, Cave Creek, AZ)
16:22 - Should I Convert $1M IRA to Roth Up to 22% Tax Bracket? (Todd, Flagstaff, AZ)
19:39 - Market Timing Retirement Withdrawals and Roth Conversions (Robert, Southern Maine)
25:28 - My Son Says I Should Do Roth Conversions. Is He Right? (Debbie, Rural Wisconsin)
32:39 - Spitball on Our “Bucketing” Strategy for Early Retirement Withdrawals (JZ, upstate NY)
39:50 - Roll IRA to 401(k) for Backdoor Roth With No Additional Tax? (JZ, California)
43:04 - Hawk Tuah Spitball
45:39 - The Derails
Transcript
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| 0:00.0 | It's that time once again. Your chance at a $100 Amazon gift card is waiting for you in the podcast show notes at Your Money, Your Wealth.com. |
| 0:09.1 | Answer 18 questions in the 7th annual YMIW podcast survey and you are entered to win. |
| 0:15.3 | Click the link in the description of today's episode in your favorite podcast app to go to the show notes and access the survey and the secret password. |
| 0:22.4 | Legitimate, complete entries with honest opinions about what would make your money, your wealth, |
| 0:27.6 | your favorite, funniest, top best personal finance podcast will be in the running for the hundred bucks. |
| 0:33.3 | U.S. residents only, no purchase necessary. |
| 0:35.4 | Survey and giveaway clothes and winner chosen at 12 p.m. |
| 0:38.5 | Pacific time on August 30th, 2024. Is timing the market when you withdraw money from your |
| 0:45.0 | retirement accounts or do Roth conversions a good idea? Is it an effective strategy for YMIW |
| 0:50.8 | listener Robert? That's today on your money, your wealth podcast number 488. |
| 0:55.8 | Plus, should Doug change his 60-40 asset allocation and should he start a solo 401k? |
| 1:01.7 | Hefe plans to withdraw from his retirement accounts beyond the top of the 24% tax bracket for the |
| 1:07.4 | first few years of retirement. Is there any reason to put it in a brokerage |
| 1:11.1 | account rather than converting it to Roth? The fellow is also spitball on Roth conversion methods |
| 1:15.8 | and strategies for Srinivas, Todd, and Debbie, and JZ in California. And they spitball on JZ in |
| 1:22.3 | New York's bucketing strategy for early retirement withdrawals. Got a money question or want a retirement spitball analysis of your own? |
| 1:29.6 | Click the link in the description of your favorite podcast app to Ask Joe and Big Al on air. |
| 1:34.4 | I'm producer Andy Last and here are the hosts of your money, your wealth, Joe Anderson, CFP, and Big Al Clopine CPA. |
| 1:43.1 | Serenis from Chicago. Srinivust. Srinivus. Sharinas from Chicago. |
| 1:45.4 | Sreenovast. |
| 1:46.2 | Sreeniboss. |
| 1:47.4 | Srinivost. |
... |
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