SECURE 2.0, FIRE, Tax Arbitrage & Roth Retirement Spitball - 415

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

🗓️ 7 February 2023

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

With the new SECURE Act 2.0 rules regarding retirement savings contributions, should your company match go into the traditional or Roth 401(k)? Joe and Big Al also discuss whether you can or should do Roth conversions when your company fails non-discrimination testing for highly compensated employees (HCEs), the mega backdoor Roth vs. the employee stock purchase plan, and they spitball a tax arbitrage strategy. Plus, a retirement spitball for a 37-year-old couple wanting to retire in their 60s, and another couple wanting to FIRE (financial independence/ retire early) - but are they screwing up and creating a huge future tax bill? Show notes, free financial resources, transcript, Ask Joe & Big Al On Air: https://bit.ly/ymyw-415

Transcript

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0:00.0	Today on Your Money, Your Wealth podcast number 415, with the new Secure Act 2.0 rules regarding retirement savings contributions, should your company match go into the traditional 401k or the Roth 401k.
0:13.4	Joe and Bigel also discuss whether you can or should do Roth conversions when your company fails non-discrimination testing for highly compensated employees,
0:22.4	the mega backdoor Roth versus the employee stock purchase plan, and they spitball a tax arbitrage
0:27.8	strategy.
0:28.9	Plus, a retirement spitball for a 37-year-old couple wanting to retire in their 60s and
0:33.9	another couple wanting to fire, financial independence retire early, but are they
0:38.2	screwing up and creating a huge future tax bill? I'm producer Andy Last and here are the hosts of
0:43.8	your money, your wealth, Joe Anderson, CFP, and Big Al Copine CPA.
0:49.6	Joe in Big Al, thank you for continuing to make my walks along the mighty Mississippi,
0:58.1	enjoyable and educational.
1:00.4	I drive a 2015 Toyota Sequoia.
1:03.6	Have no pets, and I'm single.
1:06.5	Surly Brewing Company, Hell Lager, and Controlled Chaos West Coast IPA are the local brews on rotation in my basement fridge.
1:15.2	Ooh, now that's getting interesting.
1:17.8	All right, a little basement fridge.
1:19.8	Yeah.
1:20.5	Midwest guy.
1:21.8	Sure.
1:22.3	Curious to hear your take on a particular aspect of the Secure 2.0 Act related to the 401k employer match.
1:28.9	It's my understanding that under the Secure 2.0 Act, in effective in 2023, individuals can
1:34.8	choose to have employer matching contributions directed to their Roth workplace accounts.
1:39.8	It is also my understanding.
	...

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