Roth Conversion Tax Planning Strategies and Annuities - 287

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

🗓️ 18 August 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tax planning for Roth IRA conversions with itemized deductions, dividends, and long term capital gains, a Roth conversion vs. investing a 401(k) distribution in your Roth, separating pre-tax and post-tax money for a rollover, and gong baths. Plus, is a 3 year fixed annuity a safe place to earn more than 20 basis points? What should you do if you’re stuck in an annuity you don’t want? Send in questions, access free financial resources, and sign up for the August 26 YMYW live webinar: https://bit.ly/YMYW-287

Transcript

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0:00.0	So what's the latest with the current tax law?
0:02.1	What can you expect with future tax laws?
0:04.2	What might the 2020 election mean for your taxes?
0:07.3	And what might happen to the capital gains tax?
0:10.1	Find out all of that at noon Pacific 3 p.m. Eastern on Wednesday, August 26th,
0:15.2	when we're doing another YMIW live webinar.
0:18.5	Click the link in the description of today's episode in your podcast app to sign up in the podcast
0:22.7	show notes at Your Money, Your Wealth.com.
0:25.8	Today on Your Money Your Wealth, Joe and Big Al dive into tax planning for raw conversions
0:30.4	with itemized deductions, dividends, and long-term capital gains, the difference between
0:35.0	a distribution and a conversion, separating pre- and post-tax money
0:38.8	for a rollover, and gong baths. But first, let's talk about annuities. Is a three-year fixed
0:45.1	annuity a safe place to earn more than 20 basis points? And what should you do if you're stuck
0:49.8	in an annuity that you don't want? I'm producer Andy Last, and here are the hosts of Your Money,
0:55.0	Your Wealth, Joey Anderson, CFP, and Big Al Clopine CPA. Tony writes in, I have an annuity and
1:03.7	have handed for 28 years that has high fees. I'm two years from retirement, over 60 now.
1:13.4	Should I move to a lower fee-based annuity or just stick with it. Bound is about 500,000. I don't like annuities, but I'm stuck
1:19.2	with this vehicle. I don't like it. It's like Sam I am. I don't like it. it Sam I am I don't like green eggs and ham
1:30.7	I don't like it on a bun I don't like it on the run that's pretty good at
1:37.0	yeah not bad so what should I do thank you for your help all right right. So let's do this.
1:46.8	We got a little bit of time today.
1:48.3	Yeah, we do.
	...

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