What To Do With Your Employer-Sponsored Retirement Plan? - 449

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

🗓️ 3 October 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

What should Martin do about his outrageously fee-heavy 403(b) plan? Should EF hedge his pre-tax non-qualified 415 excess plan? What should Max do with his old TIAA plan, and what are the pros and cons of a cash balance defined benefit plan for self-employed people like Brent Money? Plus, Mike needs Joe and Big Al’s spitball on the highly compensated employee rule and excess 401(k) contributions, and the fellas explain how employee stock purchase plans are taxed for Big Cheese Bob the Tomato.

Timestamps:

00:55 - What to Do About My Outrageous Fee-Heavy 403(b)? (Martin, Miami, FL)
05:56 - Should I Hedge My Pre-Tax Non-Qualified 415 Excess Plan? (EF, Kansas)
14:25 - What to Do With My Old TIAA Retirement Plan? (Max, Seattle)
24:29 - Highly Compensated Employee Rule and Excess 401(k) Contributions (Mike, Castleton, NY)
29:16 - How Are Employee Stock Purchase Plans (ESPP) Taxed? (Big Cheese/Bob the Tomato)
32:26 - Cash Balance Plans Pros and Cons for Self-Employed (Brent Money, Bennington, NE)
40:52 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-449

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

Transcript

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0:00.0	What should Martin do about his outrageously fee-heavy 403B plan?
0:04.8	Should EF hedge his pre-tax non-qualified 415 excess plan?
0:09.9	What should Max do with his old TIAA plan?
0:13.0	And what are the pros and cons of a cash balance plan for self-employed people like Brent Money?
0:18.2	What to do with your employer-sponsored retirement plan? That's today on
0:21.7	Your Money, Your Wealth podcast number 449. Plus, Mike needs Joe and Big Al's spitball on the highly
0:27.8	compensated employee rule and excess 401K contributions, and the fellas explain how employee stock
0:34.1	purchase plans are taxed for Big Cheese Bob the Tomato.
0:38.0	If you've got money questions or want a retirement spitball analysis of your own,
0:42.5	visit Your Money, Your Wealth.com and click Ask Joe and Big Al on air.
0:46.8	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al Clopine CPA.
0:54.5	You got Martin from Miami, he writes, CFP, and Big Al Clopine CPA. You got Martin from Miami.
0:56.5	He writes in.
0:58.2	I drive a 2010.
1:00.6	Toyota Camry, my wife, 2012 Toyota Sienna.
1:05.3	My drink of choices, little rum and coke, Cuba Libre, Miami.
1:10.4	And a little twist of lemon. Well, Cuba Libre Miami and a little twist of lemon well Cuba Libre's with
1:13.8	lime. Oh. So I don't know what a rum and coke with lemon would be called. Okay. It's a little
1:19.0	twist on the on that. Yeah. I'm in I'm new to the personal finance sphere and discovered my
1:25.4	educator 403b with Corbridge has a weighted expense charge of 1.6%. I
1:32.6	contribute $1,000 per month and have an account balance of $200,000 of a 7030 stock bond mix.
1:40.9	I'm 53 year and around $170,000 will work at least six more years and receive a net pension around $94,000 annually.
	...

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