Roth Conversions to Pay Less Tax on Retirement Withdrawals - 466
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 30 January 2024
⏱️ 47 minutes
🧾️ Download transcript
Summary
Should Peter LemonJello, who has high income, and his wife, who is retired with zero income, file their taxes as married filing separately so they can start Roth conversions? What are the tax implications of Roth conversions for Randy in Chi-town, an early retiree in the 32% tax bracket? Caity with a C in SLC is self-employed and over the income max to contribute to a Roth, so now what? And Ben in Oceanside, CA wants to know what impact Roth conversions will have on required minimum distributions after age 73? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on all these Roth conversion tax reduction strategies, today on Your Money, Your Wealth® podcast 466. Plus, does the math make sense on a company-matched Kai-Zen indexed universal life insurance policy for Kickass Seabass in New Jersey? Ed in Virginia wants to know the earnings limits for family Social Security benefits. But first, can JJ in Florida’s retirement portfolio handle withdrawals of $150,000 per year? And from the banks of the Mighty Mississippi, what should midwestfabs’ post-employment asset allocation be? Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-466
Timestamps:
- 00:00 - Intro
- 01:12 - Can Our Retirement Portfolio Handle $150K Annual Withdrawals? (JJ, FL)
- 04:08 - What Should My Asset Allocation Be, Post-Employment? (Midwestfabs)
- 11:43 - 2024 Financial Market Outlook: read the blog by Brian Perry, CFP®, CFA, Pure Financial Advisors’ Executive Vice President and Chief Investment Officer
- 12:39 - Tax Spitball: Married Filing Separate and Start Roth Conversions? (Peter LemonJello, FL)
- 14:58 - Roth Conversion Tax Implications for an Early Retiree in the 32% Bracket (Randy, Chicago)
- 21:34 - Self-Employed and Over the Max to Contribute to Roth – Now What? (Caity, Salt Lake City)
- 25:07 - Impact of Roth Conversions After Age 73 on RMDs (Ben, Oceanside, CA)
- 28:12 - Mile Markers to Retirement - YMYW TV
- Retirement Readiness Guide - free download
- 28:52 - Does the Math Make Sense on a Company-Matched Kai-Zen IUL Policy? (Kickass Seabass, NJ)
- 34:53 - Social Security Family Benefits Earnings Limits (Ed, VA)
- 42:42 - The Derails
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Should Peter Lemongelo, who has high income and his wife, who is retired with zero income, |
| 0:05.5 | file their taxes as married filing separately so they can start Roth conversions? |
| 0:10.1 | What are the tax implications of Roth conversions for Randy in Chytown, an early retiree, |
| 0:14.8 | in the 32% tax bracket? |
| 0:17.2 | Katie, with a C, an SLC, is self-employed and over-the-income limit to contribute to a Roth. |
| 0:22.6 | So now what? |
| 0:23.6 | And Ben in Oceanside, California, wants to know what impact Roth conversions will have |
| 0:27.4 | on his required minimum distributions after age 73. |
| 0:31.2 | Joe and Bigel spitball on all these Roth conversion tax reduction strategies today on |
| 0:35.5 | your money, your wealth podcast number 466. Plus, does the math |
| 0:39.7 | make sense on a company-matched Kaisen indexed universal life insurance policy for kick-ass |
| 0:45.3 | in New Jersey? Ed and Virginia wants to know the earnings limits for family social security benefits, |
| 0:50.9 | but first, can JJ in Florida's retirement portfolio handle withdrawals of |
| 0:55.4 | $150,000 per year? And from the banks of the Mighty Mississippi, what should Midwest Fab's |
| 1:01.4 | post-employment asset allocation be? I'm producer Andy Last, and here are the hosts of your money, |
| 1:06.7 | your wealth, Joe Anderson, CFP, and Big Al Clopine CPA. We got Jay from Florida, |
| 1:12.6 | He goes, he wants to know a spitball of a portfolio can handle spending of $150,000 after taxes |
| 1:18.3 | beginning in retirement in February of 24. |
| 1:23.8 | Good thing we're answering this now because we're right there. |
| 1:26.4 | We're knocking on the door. |
| 1:30.3 | Nothing like waiting at the last minute. I'm 66. |
| 1:32.3 | Spouse is 65. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Your Money, Your Wealth, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Your Money, Your Wealth and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.