Save for a Home or Save for Retirement? - 389

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

🗓️ 2 August 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Should you save for a house down payment or invest for retirement? How much long term capital gains tax do you pay on a rental property when you sell it after 20 years, and how does a 1031 exchange work? Also, opening a Roth IRA with the Backdoor Roth strategy, and the 5 year Roth withdrawal rules explained. Plus, a couple retirement spitball analyses: are you saving too aggressively for retirement? Can you avoid the Medicare IRMAA, or income related monthly adjustment amount, and high taxes from required minimum distributions? Show notes with annual podcast survey, free financial resources, and Ask Joe & Big Al On Air: https://bit.ly/ymyw-389

Transcript

Click on a timestamp to play from that location

0:00.0	Today on Your Money, Your Wealth podcast number 389, should you save for a house down payment or invest for retirement?
0:08.1	How much long-term capital gains tax do you pay on a rental property when you sell it after 20 years?
0:13.3	And how does a 1031 exchange work?
0:15.7	Also, opening a Roth IRA with the backdoor Roth strategy and the five-year Roth withdrawal rules explained.
0:22.7	Plus, a couple retirement spitball analyses, are you saving too aggressively for retirement?
0:28.4	Can you avoid the Medicare Irma or income-related monthly adjustment amount and high taxes from
0:33.7	required minimum distributions?
0:35.8	Visit Your Money, Your Wealth.com
0:37.6	and click Ask Joe and Big Al on air
0:39.5	to send in your money questions, comments,
0:41.9	suggestions, requests, or stories.
0:44.5	I'm producer Andy Last,
0:45.7	and here are the hosts of Your Money, Your Wealth,
0:48.3	Joe Anderson, CFP, and Big Al Clopine CPA.
0:52.4	All right, we got an email here.
0:54.7	It says, Andy, can you please give me a cool alias?
0:58.3	So what's the alias of this person?
1:00.6	So I came up with Abigail Scott Dunaway.
1:03.7	Our emailer is actually from Portland, Oregon.
1:05.8	So I looked up famous women in Portland.
1:07.8	And I came up with Abigail.
1:09.0	She apparently was one of the first people on the Oregon Trail in 1851.
	...

Please login to see the full transcript.

Previous episode | Next episode

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.