Tax-Savvy In-Plan Roth Conversions and Inherited IRA Withdrawals - 497

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

🗓️ 1 October 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Should David in Ohio use 457 funds to do an in-plan Roth conversion in his 403(b) plan, and should he hire a financial advisor? Chris in DC needs a retirement and Roth conversion spitball analysis, and he needs help getting out of a variable annuity. Kim is anxious that she made a mess of her finances and she wonders how much she should convert to Roth, today on Your Money, Your Wealth® podcast number 497 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what’s the best way for Alissa in Cedar Rapids, Iowa to make tax-efficient withdrawals from an inherited IRA? Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-497

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Timestamps:

00:00 - Intro: This week on YMYW

00:50 - In-Plan Roth Conversions From 457 to 403(b): Do I Need a Financial Advisor? (David, OH)

10:54 - Get a Free Financial Blueprint, Learn About Pure's Financial Assessment

12:13 - Retirement and Roth Conversion Spitball + How to Get Out of Variable Annuity (Chris, DC)

20:05 - Anxious I Made a Mess of My Finances. How Much Should I Convert to Roth? (Kim)

28:13 - Watch Retirement Rebound: 4 Plays to Score a Comeback on YMYW TV, Download the Retirement Income Strategies Guide

29:08 - Inherited Assets: Best Strategy for Tax-Efficient Retirement Withdrawals? (Alissa, Cedar Rapids, IA)

42:10 - Outro

Transcript

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0:00.0	Should David in Ohio use 457 funds to do an in-plan Roth conversion in his 403B plan?
0:06.7	And should he hire a financial advisor?
0:09.2	Chris in D.C. needs a retirement and Roth conversion spitball analysis, and he needs help getting out of a variable annuity.
0:15.7	And Kim is anxious that she made a mess of her finances, and she wonders how much she should convert to Roth. Today on Your Money, Your Wealth Podcast Number 497.
0:23.6	Plus, what's the best way for Alyssa in Cedar Rapids, Iowa to make tax-efficient retirement withdrawals from an inherited IRA?
0:31.6	To get your money questions answered or for a retirement spitball analysis of your own,
0:36.6	click the Ask
0:37.7	Join Big Al link in the episode description and send us a priority voice message or an email.
0:43.0	I'm producer Andy Last and here are the hosts of your money, your wealth, Joe Anderson,
0:47.5	CFP, and Big Al Clopine CPA.
0:50.7	Okay, David from Ohio, should I use 457B funds to do a in-plan Roth conversion in a 403B?
0:59.0	Okay. We are 49 and 41 with 1.7 million, most of which is in pre-tax.
1:06.0	All right, hello, for the last six years. I've been turning into your show, and I'm grateful for the informational content you delivered. Before that, I would just put money away, never thought about it. Now I'm thinking about it, and I need help. My drink a choice is a cake cup Starbucks French roast. What the hell is a cake cup?
1:28.3	Look at those little individual cups that you can make from... Starbucks French roast. What the hell is a cake cup? Anyone?
1:28.5	Little individual cups that you can make from at home, that it just, one thing goes into your coffee maker and it spits out one cup of coffee?
1:37.0	No.
1:37.4	It could be.
1:38.1	It could be they have this little powder thing.
1:40.1	I don't know.
1:41.2	Kick up.
1:41.7	All right.
1:42.1	Sounds good.
	...

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