Spitballing the Sequence of Retirement Savings - 350

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 November 2021

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

In what order you should contribute into which accounts for retirement? Joe & Al explain the reasoning behind the sequence of retirement savings and where a health savings account (HSA) fits. Following some retirement plan spitball analyses and Roth conversion strategizing, the fellas explain whether capital gains are taxed progressively, how required minimum distributions are taxed, & they revisit indexed universal life insurance. Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-350

Transcript

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0:00.0	We often hear about what order you should contribute into which accounts for retirement savings.
0:05.5	Today on Your Money Your Wells Podcast number 350, Joe and Big Al, explained the reasoning
0:10.8	behind that sequence of retirement savings and where an HSA, a health savings account,
0:15.9	fits into that sequence. Following some retirement plan spitball analyses and Roth conversion strategizing,
0:22.6	the fellows will explain whether capital gains are taxed progressively, how required minimum
0:27.5	distributions are taxed, and what the? They also revisit indexed universal life insurance,
0:33.4	a favorite topic from days gone by. Plus, Joe's got a second career in the works, and we've got derails galore.
0:40.5	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Alclopine CPA.
0:48.8	Answering money questions again, we got Craig from Michigan, right? He's like, wondering how you see
0:55.3	HSA fitting into a retirement portfolio. I've noticed and listened to your podcast, the order you
1:01.8	suggest is one, 401K to the match. Two, max out Roth IRA, if eligible, Three, go back and max out 401K.
1:13.1	Four, money into brokerage account.
1:16.1	And then five, which Craig missed here, is look at conversion opportunities.
1:22.8	There you go.
1:23.4	Wow.
1:23.8	Yeah.
1:24.5	And why is that?
1:25.7	Why do we talk about that?
1:27.4	If you do it this way,
1:29.0	you're automatically going to be diversified tax-wise if you do this long enough. Right. Because
1:34.8	at least we know you'll have something in the Roth IRA as long as you qualify for it.
1:39.0	So most people just go 401K that put their blinders on and that's all they save into you. Right.
	...

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