SECURE Act 2.0 & Retirement Rich, Cash Poor - 412

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

🗓️ 17 January 2023

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Joe and Big Al are back with a SECURE Act 2.0 recap and a proposed backdoor 529 plan strategy from the new law. Plus, is there a scenario where it makes sense to not max retirement accounts, to avoid being retirement rich and cash poor? Also, the fellas’ thoughts on a break-even point for Social Security, required minimum distributions (RMD) from inherited IRAs, and of course, Roth IRA strategies: as in, the 5-year rules for Roth withdrawals, preserving Roth money and avoiding early withdrawal penalties, and Roth conversions to offset brokerage account losses. Show notes, transcript, free financial resources - including the free guide to the SECURE 2.0 Act - and to Ask Joe & Big Al On Air for your Retirement Spitball Analysis: https://bit.ly/ymyw-412

Transcript

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0:00.0	Today on Your Money, Your Wealth podcast number 412, Joe and Big Al, are back with a Secure Act 2.0 recap and a proposed Backdoor 529 strategy from the new law.
0:11.5	Plus, is there a scenario where it makes sense to not max out your retirement accounts to avoid being retirement rich and cash poor?
0:19.6	Also, the fellow's thoughts on the break-even point
0:21.9	for Social Security,
0:23.2	RMs from inherited IRAs, and of course,
0:26.2	Roth strategies, as in the five-year rules
0:28.9	for Roth withdrawals, preserving Roth money
0:31.5	and avoiding early withdrawal penalties,
0:34.1	and Roth conversions to offset brokerage account losses.
0:41.2	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth,
0:44.6	Joe Anderson, CFP, and Big Al-Clobine CPA.
0:47.0	Thanks for tuning in.
0:49.2	Hopefully everyone had a wonderful holiday season.
0:50.6	We're back, Ryan in the way.
0:52.6	Took a couple of weeks off.
0:54.4	Appreciate you hanging with us. This is going to be the best year at. Best year. in the way. Took a couple of weeks off. I appreciate you.
0:55.7	Hanging with us.
0:57.4	This is going to be the best year at.
0:59.0	Best year yet.
1:00.0	Good start.
1:00.8	Yeah.
1:01.4	I like that.
	...

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