Roth Conversions & Retirement Spitball Analysis - 421
Your Money, Your Wealth
Your Money, Your Wealth
4.6 • 791 Ratings
🗓️ 21 March 2023
⏱️ 50 minutes
🧾️ Download transcript
Summary
Should Edith and Archie live off their non-qualified accounts and pay Roth conversion taxes from their 401(k)? How can Johnny from Knoxville do Roth Conversions and stay in a low tax bracket Plus, at age 31, are Shad and his wife saving enough for retirement? What should Tech Chick do with her severance package after being laid off from her tech industry job? Finally, listener comments on retirement plan education, Roth conversions, and the 5-year Roth clocks.
Timestamps:
- 00:39 - Live Off Non-Qualified Accounts, Pay Roth Conversion Tax From 401(k)? (Edith & Archie, TX)
- 11:35 - How to Do Roth Conversions and Stay in a Low Tax Bracket + Estimating Taxes (John, Knoxville, TN)
- 19:11 - Retirement Spitball Analysis: Are We Saving Enough at Age 31? (Shad, Smith's Grove, KY)
- 27:11 - Laid Off From the Tech Industry. What Should I Do With My Severance Package? (Tech Chick, Mile High Rocky Mountains)
- 39:55 - Comment: No Financial People Ever Mentioned Roth Conversions to Me Before! (Donna, Valencia)
- 40:55 - Comment: Thanks for Letting Me Educate You on Retirement Plans (Debra, St Louis, MO)
- 42:41 - Comment: You Got the Roth 5 Year Clock Wrong (David, Michigan)
- 48:06 - The Derails
Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-421
- Register for our free 2023 tax planning webinar, March 29, 12pm PT
- 2023 Key Financial Data Guide
- Complete Roth Papers Package, Including: the Ultimate Guide to Roth IRAs, the Guide to the 5-Year Rules for Roth IRA Withdrawals, and the Roth IRA Basics Guide
- Episode Transcript
- Ask Joe & Big Al On Air
Transcript
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| 0:00.0 | Should Edith and Archie live off their non-qualified accounts and pay Roth conversion taxes from their 401k? |
| 0:06.7 | How can Johnny from Knoxville do Roth conversions and stay in a low tax bracket? |
| 0:11.3 | That's today on Your Money, Your Wealth podcast number 421. |
| 0:15.5 | Plus, at age 31, our Shad and his wife, saving enough money for retirement? |
| 0:20.3 | What should tech chick be doing with her severance package after being laid off from her tech industry job? |
| 0:25.8 | Finally, listen to your comments on retirement plan education, Roth conversions, and the five-year Roth blocks. |
| 0:31.9 | I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al Copine CPA. |
| 0:39.5 | We got Edith and Archie from Texas. |
| 0:42.7 | Dear Andy, Big Al and Joe. |
| 0:45.0 | Ladies first, Andy. |
| 0:46.5 | Am I spelling your name correctly? |
| 0:49.0 | Archie did spell my name correctly, yes. |
| 0:50.9 | I think it's Edith. |
| 0:51.8 | Is it Edith? |
| 0:52.6 | Ladies first. |
| 0:54.8 | No, I think Archie is referring to me as being the lady. But it's Edith and Archie. So they're writing |
| 1:00.2 | together? Read on. We'll find out maybe. I got a question. What is the proper? So if I start a letter |
| 1:09.0 | of Edith and Archie, wouldn't you assume the first person that is on that is the one that is writing? |
| 1:17.8 | I think that's a fair assumption. |
| 1:20.1 | That's a fair assumption. |
| 1:20.9 | Okay. |
| 1:21.3 | Although it says Edith is 55 and I am 53. |
... |
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