Should We Do a Roth Conversion? - 339

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 August 2021

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Moving money from tax-deferred retirement accounts to accounts with lifetime tax-free investment growth: should you do Roth IRA conversions? Before marriage? From a 403(b)? When and how much to convert? Convert aggressive funds first? What about the ACA subsidy? Will paying Roth conversion tax ruin early retirement? And something completely different: Joe & Big Al's take on Ric Edelman’s "pay off the mortgage" suggestion. Podcast survey, transcript, free resources, Ask Joe & Al: https://bit.ly/ymyw-339

Transcript

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0:00.0	Tell us what you think in our fourth annual Your Money, Your Wealth podcast survey for your chance to win a $100 Amazon E gift card.
0:08.9	Click the link in the description of today's episode and your podcast app to go to the show notes.
0:13.2	The password to fill out the survey is pure, all lowercase.
0:17.3	U.S. residents only, no purchase necessary, survey giveaway closes and winnerosen at 4 p.m. Pacific time on August 31st, 2021.
0:26.3	Should you move money from tax-deferred retirement accounts into an account that will give you tax-free growth on your investments for the rest of your life and your kids' life?
0:35.5	What do you think?
0:36.4	Today on Your Money, Your
0:37.7	Wealth podcast number 339, Joe and Big Al answers several versions of what is probably
0:42.8	the most common question we get here on YMIW. Should we do Roth conversions? Before we get
0:49.1	married, should we do a 403B to Roth conversion? When and how much should we convert to Roth if we want to
0:55.1	keep our ACA subsidy? Should we do Roth conversions with more aggressive funds first? If we use
1:00.6	all our cash to pay the tax on Roth conversions, will we run out of money for our early retirement?
1:05.7	Anticap it all off, something completely different. Can you sell without selling your house? What do the
1:11.6	fellas think of Rick Edelman's answer to the question should you pay off your mortgage?
1:15.6	I'm producer Andy Last, and here are the hosts of your money, your wealth, Joe Anderson, CFP, and Big Al Clopine's CPA.
1:23.6	I got Dom writing in from Columbus, Ohio.
1:29.3	He goes, hi, I generally enjoy your show.
1:31.9	And I have shared YMIW podcast with most of my closest friends.
1:36.5	Why only most, Dom?
1:39.1	Why not all?
1:41.4	Well, and he actually said I genuinely enjoy.
1:44.1	I think you said generally.
	...

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