"My Parents Don't Have A Will - What Should I Do?"
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 14 April 2022
⏱️ 23 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:07.0 | investing, taxing. |
| 0:09.0 | You've got financial questions, he's got financial answers. |
| 0:12.6 | It's Brian Preston, the money guy. |
| 0:15.6 | All right. |
| 0:16.6 | This next question is from Peter, Brian. |
| 0:19.4 | And we run into this all the time with clients, so I want you to give some insight. |
| 0:23.6 | He says, my magi, my modified adjusted gross income, is unexpectedly going to be above |
| 0:29.7 | the married Roth IRA, but it's this year, right? |
| 0:32.3 | That's a good thing. |
| 0:33.3 | I'm making more money than I thought I was going to make. |
| 0:35.7 | But I've already maxed out both of my Roth IRAs. |
| 0:40.3 | What should I do? |
| 0:41.8 | We see this all the time. |
| 0:42.8 | Folks that are such good, diligent, savers also tend to be unlike a pretty attractive career |
| 0:49.0 | trajectory. |
| 0:50.0 | So it's not uncommon for someone to be making money and then make more and more and |
| 0:52.6 | more as it kind of worked through their career. |
| 0:54.7 | And they just got that, you know, $500 a month turned on, going into the Roth, going to |
| 0:58.8 | the Roth, going to the Roth, well, getting into the year and they start doing their tax |
| 1:02.5 | is like, oh, I, as it turns out, I want to make sure I understand this because I was |
| 1:07.7 | so busy writing down things is that you're saying Peter is already fun. |
... |
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