Problems With the Arguments Against Roth IRAs - 212

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

🗓️ 12 March 2019

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ric Edelman has some strong arguments against the Roth IRA. Joe & Big Al, aka "The Roth Brothers," offer their thoughts. Plus, understanding basis when it comes to Roth conversions. And what happens if you’ve already contributed, but by the end of the year you’ve exceeded the income limitation for Roth contributions? Can you open a Roth for your 12-year-old whose raking in babysitting bucks? What happens to your Roth when you die? It's an all Roth IRA episode! Transcript & show notes: http://bit.ly/YMYW-212

Transcript

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0:00.0	You may recall back on Your Money Your Wealth episode number 184,
0:03.8	Joe and Big Al mentioned that they've been called the Roth brothers in the past.
0:07.6	Today on Your Money Your Wealth episode 212, they're going to show us why.
0:11.4	It's an entire episode of your Roth IRA questions.
0:14.9	The fellas explain the mechanics of basis when it comes to Roth conversions.
0:18.9	Plus, what happens if you've already contributed to your Roth IRA for the year, but by the end of the year, you've exceeded the income limitation for Roth contributions?
0:26.6	Can you open a Roth IRA for your 12-year-old daughter who's raking in the babysitting bucks?
0:31.6	And what happens to your Roth IRA when you die?
0:34.6	But first, not everyone agrees that the Roth IRA is such a great thing.
0:38.9	Rick Edelman has some strong arguments against it.
0:41.8	Here, with their thoughts, are the Roth brothers themselves, Joe Anderson, CFP, and Big Alclopine CPA.
0:48.1	This is a question that we have received a few times in the past, Alan.
0:53.8	Okay.
0:54.7	And this is from April from Illinois.
0:57.4	Okay.
0:58.4	We used to do a full segment on this, didn't we?
1:01.0	Usually, what is Rick Ellman saying?
1:06.0	Yeah, that was a long time ago.
1:07.5	She's like, all right, well, what do you think of Rick Edelman's opinion of Roth IRAs?
1:12.8	So, first disclosure, I'm a big fan of Rick.
1:18.8	Alan, I know Rick personally.
1:20.4	Yeah, we do.
	...

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