Real Estate, Roth Conversions, and Social Security - 279

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 June 2020

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Reducing real estate taxes, leveraging new rental income properties, coordinating Social Security benefits with Roth conversions, and bragging about your 401(k) balance. Also, 5-year Roth clocks, converting from your TSP, Roth conversion vs. Backdoor Roth conversion, and paying taxes on conversions. Plus, a chat about Social Security survivor benefits - and freezers. Send in money questions and access the episode transcript and free financial resources in the podcast show notes: https://bit.ly/YMYW-279

Transcript

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0:00.0	Welcome to 279. It's a Your Money, Your Wealth grab bag this week. We're talking about reducing
0:06.0	real estate taxes, leveraging new rental income properties, coordinating your Social Security benefits
0:11.6	with your Roth conversions, and bragging about your 401K balance. The fellows will also get
0:16.9	into the ever-popular five-year Roth clocks clocks converting from your TSP, the difference between
0:22.1	a Roth conversion and a backdoor Roth conversion, and paying taxes on conversions, plus a chat
0:28.2	about Social Security survivor benefits and freezers. I'm producer Andy Last, and here are the hosts
0:33.9	of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al Clopine, CPA.
0:39.6	All right. We got Terry writes him from San Diego. I have a rental inn. I and N. I thought he was
0:47.9	like a rent, like a, like a little hotel or a motel or something. It's either rental in San Diego
0:53.1	or it's a rental in.
0:55.0	Yes.
0:56.0	In San Diego.
0:57.0	Yes.
0:58.0	He's got a nice little...
0:59.0	He's got an extra room in the end.
1:01.0	He's got an extra room in the inn.
1:04.0	San Diego, a primary house in Montgomery, Alabama.
1:07.0	Okay.
1:08.0	I'm selling my primary home in Alabama and moving into my rental. Now, what is the best way to avoid paying too much taxes?
1:17.7	All right. So he's got a rental here in San Diego. He's going to move into the rental in San Diego because he's selling his house in Montgomery, Alabama. Yeah. Okay. Cool. So Al, what would say you?
1:29.3	Well, first thing I would say, and I, just for fun,
1:32.0	I looked up the median price of a home in Montgomery, Alabama.
	...

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