What to Do When There's Too Much Money in Your Traditional IRA - 423
Your Money, Your Wealth
Your Money, Your Wealth
4.6 • 791 Ratings
🗓️ 4 April 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
How can you reduce taxes, IRMAA, net investment income tax, and required minimum distributions when you've got too much money in your tax-deferred retirement account - and just how much Roth conversion should you do? Plus, can you contribute to a Roth by transferring stocks "in kind"? If the check you send off to pay your estimated taxes isn't cashed before the deadline is it late? How does SECURE 2.0 impact 529 plans, and is 529 better than Roth IRA for college savings? Finally, the fellas spitball a 401(k) in-plan Roth conversion and retirement account consolidation strategy.
Timestamps:
- 00:48 - We Have Too Much in Traditional IRA. How's Our Roth Conversion Plan? (Kelly, Idaho)
- 10:54 - Can I Make a Roth IRA Contribution by Transferring Stocks "In Kind"? (GDO, Delco)
- 14:36 - How to Pay Estimated Taxes: If My Check Isn't Cashed Immediately, Is It Late? (Judi, San Diego)
- 16:51 - 529 Plan vs. Roth IRA: Does SECURE 2.0 Affect 529 College Savings? (George)
- 20:49 - 401(k) In-Plan Roth Conversion and Retirement Account Consolidation (Steve, Maine)
- 27:07 - The Derails
Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-423:
- Tax Takedown: brand new YMYW TV and companion guide
- 2023 Tax Planning Guide
- Episode Transcript
- Ask Joe & Big Al On Air
Transcript
Click on a timestamp to play from that location
| 0:00.0 | How can you reduce taxes, Irma, net investment income tax, and required minimum distributions |
| 0:06.6 | when you've got too much money in your tax-deferred retirement account? |
| 0:10.4 | And just how much Roth conversion should you do? |
| 0:13.0 | That's today on Your Money, Your Wealth Podcast No. 423. |
| 0:17.0 | Plus, can you contribute to a Roth by transferring stocks in kind? |
| 0:21.3 | If the check you send off to pay your estimated taxes isn't cashed before the deadline, is it late? |
| 0:27.1 | How does Secure 2.0 Impact 529 plans? |
| 0:30.2 | And is 529 better than Roth IRA for college savings? |
| 0:33.9 | Finally, the fellow spitball a 401k in-plan Roth conversion and retirement account consolidation |
| 0:39.5 | strategy. I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, |
| 0:45.0 | CFP, and Big Al Clopine's CPA. We got Dear Andy Big Al in, Yo Joe, Raving fan here, writing in from Idaho. All right. Love, love, love your weekly |
| 0:59.9 | podcast. You three are awesome and I look forward to your banter and laugh every week. Yes, |
| 1:06.0 | I have another one of those pesky Roth conversion questions. Here's our situation. Husband is 67. I'm 63. |
| 1:13.5 | I retired two years ago. Hubby is 90% retired from a small business. We spent the last two |
| 1:18.5 | years unraveling our life in San Diego. Oh, okay. It's backyard. Yeah. Or front yard. Yeah, it's |
| 1:26.9 | here. Well, yeah, Yeah. It's here. |
| 1:27.7 | Well, yeah, we're in the kitchen right now. |
| 1:30.5 | And rebuilding a new life in Idaho. |
| 1:33.2 | Yeah. |
| 1:33.6 | Awesome. |
| 1:34.0 | Okay. |
| 1:34.8 | We just finished building our retirement home. |
... |
Please login to see the full transcript.
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.
Copyright © Tapesearch 2026.