Tax Loss Harvesting, Tax Gain Harvesting, Financial Advisor Value - 479

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

🗓️ 30 April 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Linda is retired and financially independent. Her advisor suggests she have a separately managed account specifically for tax loss harvesting. Today on Your Money, Your Wealth® podcast 479, Joe Anderson, CFP® and Big Al Clopine, CPA spitball on how to save as much tax as possible on retirement withdrawals. Plus, Brian wants to know if it ever makes sense to put IRA money into a brokerage account, rather than doing Roth conversions, so the fellas explain the benefits of tax gain harvesting. Also, why is Robert and Jane’s financial advisor constantly trading in Jane’s professionally managed account? Pete wants to know if flat-fee financial advisors are worth their fee, and Daniel needs financial guidance for his 34-year-old daughter. He’s also considering a free assessment, but he doesn’t really know what he’s getting himself into, so Joe and Al explain. Free Financial Resources & Transcript: https://bit.ly/ymyw-479

What Happens to Your 401(k) & IRA at Retirement? - YMYW TV

Retirement Readiness Guide - free download

Free Financial Assessment - schedule now

Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Timestamps:

00:00 - Intro

00:55 - Separately Managed Account for Tax Loss Harvesting To Optimize Retirement Withdrawals? (Linda, MD)

11:54 - Why is Our Advisor Constantly Trading in Our Professionally Managed Account? (Robert, GA)

18:00 - Are Flat-Fee Advisors Worth the Fee? (Pete, Knoxville, TN)

27:03 - Financial Planning for 34-Year-Old Daughter and Pure’s Free Assessment (Daniel, Whittier)

35:17 - Does Moving from IRA to Brokerage instead of Roth Ever Make Sense for Tax Gain Harvesting? (Brian, Albany, NY)

42:12 - The Derails

Transcript

Click on a timestamp to play from that location

0:00.0	Linda is retired and financially independent. Her advisor suggests that she have a separately
0:05.1	managed account specifically for tax loss harvesting. Join Big Al Spitball on how to save as much
0:11.0	tax as possible on retirement withdrawals. Today on Your Money, Your Wealth podcast number 479.
0:17.1	Plus, Brian wants to know if it ever makes sense to put IRA money into a brokerage account
0:21.5	rather than doing Roth conversions.
0:23.8	So the fellows explain the benefits of tax gain harvesting.
0:27.6	Also, why is Robert and Jane's financial advisor constantly trading in Jane's professionally
0:32.4	managed account?
0:33.8	Pete wants to know if flat fee financial advisors are worth their fee, and Daniel needs financial guidance for his 34-year-old daughter.
0:41.4	He's considering a free assessment, too, but he doesn't really know what he's getting himself into, so Joe and Al-Explain.
0:47.4	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al-Clobine CPA.
0:54.8	We got Linda from Maryland right soon. He goes, hey, Joe, Al, thoroughly enjoy your show,
0:59.5	a 60-year-old single. No kids, healthy and financially independent.
1:05.0	Got parents in their 80s, drive a 2013 Infinity sedan and enjoy a hazy IPA.
1:10.8	Oh, Linda, likes a little hazy IPA. Oh, Linda, makes a little hazy IPA.
1:13.9	Right, right, me too.
1:15.6	Retired four years ago, comfortable with the sustainability of my 65-35 portfolio.
1:21.9	I'd like to determine how the best, how the best tax manage my portfolio throughout
1:26.9	the retirement have been realizing
1:29.0	capital gains and utilizing current cash bucket for income needs. Approximately $50,000 over the
1:34.8	last couple of years. We'd like to continue annual spending of $68,000, $20,000 of which is
1:40.9	discretionary. Okay. It's kind of like to you here, Linda. It's kind of lengthy here, Linda.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Your Money, Your Wealth, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Your Money, Your Wealth and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.