Where to Locate Assets for Tax Efficiency Without Compromising Growth? - 340

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

🗓️ 24 August 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Asset location: how to position assets to pay less tax without sacrificing investment growth? Should young folks contribute all of their retirement savings to Roth accounts? Also, conversations (not advice) on a self-employed defined benefit plan vs. pass-through profits, gifting tuition for education, Roth conversions with a special needs child in mind, a correction on inherited Roth IRAs, and listener comments. Podcast survey, free financial resources, Ask Joe & Al On Air: https://bit.ly/ymyw-340

Transcript

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0:00.0	You've only got one more week to enter for your chance to win a $100 Amazon E-Gift card.
0:07.0	Give us your opinions in the fourth annual Your Money, Your Wealth, podcast survey, and you'll be in the running.
0:13.0	Well, and give us your email address so we know where to send the e-gift card if you win.
0:18.0	Click the link in the description of today's episode in your podcast app to go to the show notes and access the survey.
0:23.1	The password to fill it out is pure, all lowercase P-U-R-E.
0:28.0	U.S. residents only no purchase necessary.
0:30.5	Survey giveaway closes and winner-chosen at 4 p.m. Pacific time next Tuesday, August 31st, 2021.
0:40.9	So how do you position assets so you pay less in tax without sacrificing growth on your investments? Should young folks be contributing all of
0:46.8	their retirement savings to Roth accounts? Asset location is once again the topic. That's today on
0:52.3	Your Money, Your Wells podcast number 340. Also,
0:56.0	conversations, not advice, about opening a defined benefits plan versus taking pass-through profits
1:01.4	for self-employed folks, gifting tuition for education, making Roth conversions with a special
1:06.7	needs child in mind, a correction about inherited Roth IRAs, and plenty of entertaining listener
1:12.9	comments. Click Ask Joe and Al on air in the podcast show notes at Your Money, Your Wealth.com
1:18.1	to send in your questions or comments. I'm producer Andy Last with the hosts of Your Money,
1:23.2	Your Wealth, Joe Anderson, CFP, and Big Al-Cloafine CPA. And since voice messages get first priority, we'll kick things off today with a voice
1:31.3	message about Roth contributions.
1:33.6	Hello, Joe and Big Al. This is Cass from Mississippi.
1:38.3	And I just want to say, I love your podcast and I'm learning so much.
1:43.3	I've got a question.
1:45.4	If I max out my TSP Roth account, including ketchup contributions, totaling 26,000,
1:53.7	can I also contribute to a separate Roth IRA?
	...

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