When to HOLD OFF on Doing Roth Conversions - 529
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 13 May 2025
⏱️ 37 minutes
🧾️ Download transcript
Summary
John in Boston is in the 32% tax bracket. Should he do Roth conversions? Flight Deck Dad and Irish Girl in Pensacola have a lot of tax-free pension income. Should they do Roth conversions? Bert and Ernie in New Jersey wonder if they should convert to Roth or take advantage of zero percent capital gains tax rates. Joe Anderson, CFP® and Big Al Clopine, CPA spitball for all of them today on Your Money, Your Wealth® podcast number 529. Plus, Michael and his wife in Bellevue are 34, in the 24% tax bracket and wonder if they should contribute to tax-free or tax-deferred accounts, and if they should slow down on retirement savings and start a bridging account for the years between when they want to punch the clock in their early to mid-50s, and when they can access their retirement savings. Then, for something completely different, Frenchie from Maine writes back in: What are the disadvantages to paying off her mortgage ASAP, and what’s the tax efficiency of a money market compared to bond funds?
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Timestamps:
00:00 - Intro: This Week on the YMYW Podcast
01:00 - We’re in the 32% Tax Bracket. Should We Do Roth Conversions? (John, Boston, MA)
06:19 - We Have Large Tax-Free Pension Income. Should We Do Roth Conversions? (Flight Deck Dad & Irish Girl, Pensacola, FL)
16:03 - Watch How to Break Through Retirement Barriers on YMYW TV, Calculate your free Financial Blueprint
16:52 - Should We Do Roth Conversions or Take Advantage of 0% Capital Gains Tax? (Bert & Ernie, NJ)
25:53 - In the 24% Bracket. Should We Contribute to Tax-Free or Tax Deferred Accounts? (Michael, Bellevue, WA)
29:49 - Schedule a Free Financial Assessment at any of Pure Financial Advisors' 12 nationwide locations or online
31:04 - Disadvantages to Paying Off the Mortgage ASAP? Tax Efficiency of Money Market vs. Bond Funds? (Frenchie, ME)
36:23 - Outro: Next Week on the YMYW Podcast
Transcript
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| 0:00.0 | John in Boston is in the 32% tax bracket. |
| 0:03.0 | Should he do Roth conversions? |
| 0:04.9 | Flight deck dad and Irish girl in Pensacola have a lot of tax-free pension income. |
| 0:09.3 | Should they do Roth conversions? |
| 0:11.2 | Bert and Ernie in New Jersey wonder if they should convert to Roth or take advantage of 0% capital gains tax rates. |
| 0:17.6 | Join Big Al Spitball for all of them. |
| 0:19.3 | Today on Your Money, Your Wealth podcast number |
| 0:21.4 | 529. Plus, Michael and his wife in Bellevue are 34 in the 24% tax bracket and wonder if they |
| 0:27.8 | should contribute to tax-free or tax-deferred accounts and if they should slow down on retirement |
| 0:32.9 | savings and start a bridging account for the years between when they want to punch the clock |
| 0:37.1 | in their early to mid-50s |
| 0:38.3 | and when they can access their retirement savings. |
| 0:40.3 | Then for something completely different, Frenchie from Maine writes back in. |
| 0:44.3 | What are the disadvantages to paying off her mortgage ASAP? |
| 0:47.3 | And what's the tax efficiency of a money market compared to bond funds? |
| 0:52.3 | I'm executive producer Andy Last and here are the hosts of Your Money, Your Wealth, |
| 0:56.7 | Joe Anderson, CFP, and Big Al Clopine CPA. |
| 1:00.1 | All right, we got John from Boston, Massachusetts. |
| 1:03.7 | It goes like this, Big Al. |
| 1:06.0 | Okay. |
| 1:06.6 | All right. |
| 1:06.9 | How best a plan for twice yearly royalty payments that can push us into the 32% tax bracket? |
... |
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