Should You Convert to Roth IRA All at Once or Over Time? - 251

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

🗓️ 10 December 2019

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

How much of a Roth conversion should you do and when? Does it make sense to convert to a Roth IRA all in one year, or to do it over time, based on your age? Joe and Big Al explain the reasoning behind their answer to this common retirement investing question. Plus, they answer your questions about converting from a thrift savings plan (TSP) to a Roth, limits when contributing to retirement accounts and a traditional IRA, and doing the tax math to decide if a Roth conversion is right for you. Ask money questions, read the transcript & access free financial resources: http://bit.ly/YMYW-251

Transcript

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0:00.0	Today, your money, your wealth is all about, you guessed it, Roth conversions.
0:05.0	Joe and Big Al discuss converting from a thrift savings plan, doing one giant conversion or converting
0:10.4	a certain amount each year based on your age, and the math around the taxes related to
0:15.2	a Roth conversion.
0:16.7	Plus, just how much can you contribute to a traditional IRA after making all of your retirement account contributions?
0:22.7	How many Roth accounts can you have?
0:24.6	Has Big Al mentioned that he's a vegan?
0:26.9	And we'll top it all off with a quick derail at the very end.
0:30.0	I'm producer Andy Last, and here are Joe Anderson CFP and the vegan himself, Big Al Clopine's CPA.
0:37.2	Gary, he writes in from Rochester to York.
0:39.8	I'm just going to jump right in now.
0:40.6	We're going to get right into it, huh?
0:41.8	I am.
0:42.0	Okay.
0:43.1	He goes, hi, Joe, great show.
0:44.5	Because this was just specifically towards me.
0:46.7	Oh, that's why you did this one first.
0:49.6	I'm just going to listen to your answer then.
0:52.0	He goes, it's very entertaining and educational.
0:55.5	He's a financial junkie.
0:57.0	Gary is.
0:58.6	Love to read and listen to anything related to financial and tax planning.
	...

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