Podcasts about roth conversions

Today's show is part one of a two-part series, where Patti invites John Nersesian of PIMCO Investment Management into the studio. John is the head of Advisor Education at PIMCO, providing advanced wealth management and planning techniques, as well as investment consulting education to financial professionals. In this episode, Patti and John discuss the importance of year-end planning – how to implement various strategies and take specific opportunities that can help protect and grow your portfolio. They discuss the importance of taking those opportunities to implement fundamental strategies throughout the year – not just at year end. John also provides a helpful checklist available on our website to all listeners. 

I'm thinking about buying a car, and my dad has suggested that even if I can pay cash for the car, getting a loan would help build my credit score. Is he right?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Last-minute tax questions answered: should Brad in Wahoo, NE save to his regular 401(k) instead of his Roth 401(k) so he can claim the American Opportunity Tax Credit? Should Jennifer and Zeke in NY set up a Roth IRA and file taxes for their 13-year-old that's got some earned income? Does Cindy in San Diego have to report her Medicare Advantage over-the-counter medication benefit on her taxes? And should our buddy Carl Spackler wait until the new year to deposit his rollover check? Plus, Em in FL needs ideas for moving her Mom from a low-cost-of-living area to a high-cost-of-living area, Wannabe Landlord wonders about creating an LLC for his real estate, and can CJ in FL and IN report pro-rated real estate expenses on schedule E? Finally, the 5-year rule on Roth withdrawals once again, this time for Brutus Buckeye, and Bruce from Joisey is back, this time he wants to pay cash for a car.  Timestamps: 01:08 - American Opportunity Tax Credit and Other Tax Strategies (Brad, Wahoo, NE) 05:07 - Tax Filing for 13-Year-Old With Earned Income (Jennifer & Zeke, NY state) 09:47 - HSA: The Last Month Rule for Health Savings Accounts (JZ, New York) 13:01 - Income Tax and Sales Tax Explained (Cindy, San Diego - North County) 16:23 - Deposit Rollover Check After New Year to Avoid the Pro-Rata Rule? (Carl Spackler, FL) 21:12 - Strategies for Mom to Move from LCOL to HCOL Area (Em, FL) 26:28 - LLC For Real Estate Investment Properties? (Wannabe Landlord) 28:28 - How to Report Pro-Rated Real Estate Expenses on Taxes (CJ, Florida & Indiana) 32:22 - 5-Year Roth IRA Withdrawal Rule - Sigh (Brutus Buckeye, Columbus, OH) 37:41 - Should I Pay Cash for a Car? (Bruce, Joisey) 43:15 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-457  Reduce Your 2023 Taxes With These End-of-Year Tax Planning Strategies (free on-demand webinar) End-of-Year Tax Strategies Guide DIY Retirement Guide (LIMITED TIME OFFER! Download by Friday, Dec. 1, 2023!) Episode Transcript Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Today we're bringing back one of our most downloaded episodes: The Three Reasons for Roth Conversions.  We released this back in May of 2023 and it's already shot up to be one of the most listened-to episodes we've ever recorded. That's really no surprise because Roth conversions have become a hot topic, and for good reason too. After paying taxes for all the years you've worked, who doesn't want to try to reduce the taxes they'll pay in retirement? But…a Roth conversion doesn't make sense for everyone and after reviewing hundreds of Roth conversion plans, we've observed three primary reasons why a Roth conversion may be beneficial. In this episode, we'll explore each of these reasons. If you're thinking "I love the Big Picture Retirement podcast” please consider rating and reviewing this show! This helps us support more people -- just like you -- move toward a confident retirement. Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” Then be sure to let us know what you loved most about the episode! Also, if you haven't done so already, follow the podcast. We're adding new content every week and if you're not following there's a good chance you'll miss out. Follow now! Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.  Contact Devin's team at https://www.carrolladvisory.com/  Contact John's team at https://www.rossandshoalmire.com/   

Is there any reason why we should keep a whole life insurance policy for my son? Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In Episode 41 of our podcast, we embark on a diverse financial journey, exploring the intriguing intersection of Roth Conversions, Reverse Mortgages, and Rattlesnakes. Join us as we unravel the complexities of Roth Conversions, discussing their potential benefits and pitfalls for savvy investors. Delve into the world of Reverse Mortgages, uncovering the untapped financial possibilities they offer, and navigating the misconceptions that surround them. And, just for a touch of the unexpected, we'll share a tale or two about Rattlesnakes! Tune in for a captivating episode that promises valuable insights, financial wisdom, and a few unexpected twists!Get your hands on a copy of Private Wealth Manager and Certified Financial Fiduciary Adam Bruno's book, "The Lied: The Real Cost of Your Retirement," by downloading it at https://taxfreefortmyers.com/. Discover the truth about the hidden costs of retirement and gain expert insights on how to live a Goal-Focused Retirement. Don't miss out on this essential read - download your copy today!

Gobble, gobble! Happy Thanksgiving from Jill and Mark. Talk to you next week! Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

I am in a five year unmarried relationship and my partner makes quite a bit more money than I do, so I want to make sure I am making financial choices that are in my own best interest.Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With a substantial amount of money in pre-tax retirement accounts, should we be considering Roth conversions? Have a money question? Email us here Subscribe to Jill on Money LIVE YouTube: @jillonmoney Instagram: @jillonmoney Twitter: @jillonmoney "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

On this week's Money Matters, Scott and Pat explain the instances when changing an investment portfolio could be the right thing to do. They revisit a caller who asked back in May whether he should do a reverse mortgage.  A 57-year-old woman who loves being retired wonders whether she should take Social Security at age 62 to help her pay for health insurance. Finally, hear why Scott and Pat believe a great planning opportunity is in store for a woman who called with a question about a Roth conversion.   Join Money Matters:  Get your most pressing financial questions answered by Allworth's CEOs Scott Hanson and Pat McClain live on-air! Call 833-99-WORTH. Or ask a question by clicking here.  You can also be on the air by emailing Scott and Pat at questions@moneymatters.com. Download and rate our podcast here.

Are you curious about how your financial landscape changes after divorce? Join us as Co-Host Melissa Fradenburg and Pearl Planning founder, Melissa Joy, CFP®, CDFA® talk Roth conversions after divorce.  In this episode,  Melissa discusses how a move to a lower tax bracket following a divorce can open up opportunities for financial growth. Melissa shares her insights on how to maximize the financial benefits from spousal support payments and reduce tax liabilities. Tune in to learn about the resources and events that can aid you in crafting a long-term financial strategy tailored to your new reality.Resources:Learn more about Pearl Planning.Connect with Melissa Joy, CFP®Replay  for our Fall Economic Update and Investment Outlook.Listen to Year-End Planning with Alexa Kane.Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

I recently started a new position and I'm trying to figure out what to do with my old 401(a), Roth 403(b) and defined benefit accounts.Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In an era where taxes almost certainly have to go up in the future, many are looking at Roth conversions as a way to avoid getting hit with higher rates down the road.  But what could that mean for you in the meantime?  Granger talks about the things to take into account on this episode of The Retirement Playbook. Get to know the Hughes team and schedule a time to speak with them at https://hughesretirementgroup.com/

Steve & Sharon in Minnesota are high earners - can they get more money into their Roth IRA without paying more tax? Should Fred in western New York do Roth conversions before required minimum distributions kick in? If Mike in Utah saves on healthcare premiums now, will that mean large RMDs and tax bills for him later? Should Mark in Maryland do a backdoor Roth after maxing out his 401(k)? And should Joseph in Kansas contribute to his new employer's traditional or Roth 401(k)?  Timestamps: 00:49 - Should We Do Roth Conversions Before RMDs Kick In? (Fred, western NY) 10:22 - Will Saving on Healthcare Premiums Now Mean Large RMDs and Tax Bills Later? (Mike, UT) 19:36 - Where to Invest After Maxing Out 401(k)? Backdoor Roth? (Mark, MD) 28:04 - How to Get More into Roth Without Paying More Tax? (Steve & Sharon, Roseville, MN) 39:24 - Roth 401(k) or Traditional 401(k) With New Employer? (Joseph from Wichita, KS) 47:08 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-455  End-of-Year Tax Planning Webinar - live and free, tomorrow Nov 15, 2023, 12pm Pacific, 3pm Eastern - register now!  How to Build a Recession-Proof Portfolio - YMYW TV Recession Protection Guide - free download Episode Transcript Ask Joe & Big Al On Air for your Retirement Spitball Analysis

I'm thinking of a making a move that is probably not financially astute. Is it a ridiculous idea?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Roth Conversion is a great strategy for shifting dollars from a retirement account with a future tax liability to one where the dollars will grow tax-free for the rest of your life. Should you consider doing a Roth Conversion, and is it possible to do too much? We're helping you answer those questions and more on this episode of Wise Money. Have a question you want to have answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit www.korhorn.com or call 574-247-5898.   Find more information about the Wise Money Show™ at www.wisemoneyshow.com    Be sure to stay up to date by following us! Facebook - https://www.facebook.com/WiseMoneyShow  Twitter - https://twitter.com/WiseMoneyShow  Instagram - https://www.instagram.com/wisemoneyshow/    Want more Wise Money™? Read our blog! https://www.korhorn.com/wise-money-blog  Watch the guys in the studio: https://youtu.be/TXApgeNakbE  Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow   Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC.  Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

In this week's episode, IRA Financial's Adam Bergman Esq. answers questions about Roth conversion taxes, contributing to a Roth when you have a 401(k), and combining IRAs for an investment.

With over 20 funds in one account, how do I go about consolidating them into just a few?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

“You do not rise to the level of your goals; you fall to the level of your systems.” James Clear I've been focusing on building up my systems lately and today I'll provide you with an example of what that looks like for me.  In addition, in this episode, you'll hear several questions on how to optimize your tax burden. Then in the Bring It On segment, Kevin Lyles joins me to discuss the role of leisure in retirement. Join me today to take a baby step to improve your life in retirement.  OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:19] Building systems  LISTENER QUESTIONS [6:31] How to pay taxes for Roth Conversions [14:44] On new rules for catch-up contributions [17:07] Can Larry contribute to his wife's HSA? [19:26] The details on the taxes on selling a house BRING IT ON [22:46] The role of leisure in retirement [25:06] The 6 categories of leisure TODAY'S SMART SPRINT SEGMENT [31:16] Look at your after-tax accounts and tally your realized capital gains Resources Mentioned In This Episode BOOK - Atomic Habits by James Clear Sign up for the 6-Shot Saturday newsletter! Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement  by Roger Whitney Roger's Retirement Learning Center

My husband and I recently got married and we want to make sure we're on the right path as we start our financial journey together.Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What are the benefits of Roth conversions in retirement planning? James addresses questions about when Roth conversions become worthwhile.This episode explores key factors:Changes in tax bracketSpousal scenariosImpact of portfolio size on tax savingsPotential tax savings tend to increase with a higher portfolio balance but be careful not to take unnecessary Roth conversions. James explains different strategies to optimize tax planning.Questions answered:Is there a specific portfolio value at which Roth conversions should be considered?Why might one choose not to do a Roth conversion, and what are the alternatives?Timestamps:0:00 Intro3:14 Scenario6:47 Tax bracket11:15 Provisional income14:27 Spousal scenario16:45 Bottom line20:29 OutroCreate Your Custom Strategy ⬇️ Get Started Here.

Will Ron and Candy in Connecticut ever be able to retire, and are Bruce and Selina in Philly saving enough to retire? That's today on Your Money, Your Wealth® podcast 454 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, are Pebbles and Bam Bam in Kentuckystone missing anything when it comes to using their brokerage account to pay Roth Conversion taxes? And Susan in San Diego is 55, spends about $36K a year, and has almost a million saved - can she retire yet? And finally, our buddy Will knows he shouldn't time the market, but….  Timestamps: 00:50 - Will We Ever Be Able to Retire? (Ron, CT) 09:54 - Are We Saving Enough to Retire? (Bruce and Selina, Philadelphia) 17:36 - What Am I Missing? Brokerage Account Spitball (Pebbles & Bam Bam, Kentuckystone) 27:05 - Nearly $1M at 55, Spending $36k/Year: Can I Retire Early? (Susan, San Diego) 31:36 - I Know We Shouldn't Time the Market, But… (Will) 40:46 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-454  How to Cruise Into Your Retirement - YMYW TV Cruising Into Retirement Checklist - download by this Friday! EASIretirement.com free retirement calculator Episode Transcript Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Donna and Nathan address listener questions on whether it's better to convert to a Roth IRA when asset prices are down, or when they have recovered, and how to appeal the Income Related Monthly Adjustable Amount on your Medicare premium. Also on MoneyTalk, why the opinion that Social Security is a Ponzie scheme is unfounded.Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®; Air Date: 11/2/2023. Have a question for the hosts? Visit sowafinancial.com/moneytalk-radio to join the conversation!See omnystudio.com/listener for privacy information.

On this week's Money Matters, Scott and Pat discuss the specific factors that spawn satisfaction and joy in retirement. An Ohioan who is getting married asks whether she's better off renting out her home instead of selling it. Allworth regional director Brian James comes on the show to discuss one of the most misunderstood parts of an IRA. Finally, a caller whose wife is going blind wants to know when they should take a state pension.   Join Money Matters:  Get your most pressing financial questions answered by Allworth's CEOs Scott Hanson and Pat McClain live on-air! Call 833-99-WORTH. Or ask a question by clicking here.  You can also be on the air by emailing Scott and Pat at questions@moneymatters.com. Download and rate our podcast here.

Jim and Chris discuss listeners questions relating to Social Security, IRMAA, annuities, and Roth conversions. (4:30) George from North Carolina looks for clarification on a spouses ability to claim a spousal and survivor Social Security benefit. (22:45) George asks if IRMAA premiums apply if Medicare has been suspended. (28:15) George in Ohio looks for help […] The post Social Security, IRMAA, Annuities, and Roth Conversions: Q&A #2344 appeared first on The Retirement and IRA Show.

TSP vs. Roth TSP https://hawsfederaladvisors.com/traditional-tsp-vs-roth-tsp-the-ultimate-guide/ IRA vs. TSP https://hawsfederaladvisors.com/tsp-vs-ira-the-ultimate-guide/ Free Copy of My Book: Building Wealth In the TSP: Your Road Map To Financial Freedom as A Federal Employee: https://app.hawsfederaladvisors.com/free-tsp-e-book FREE WEBINAR: "The 7 Biggest FERS Retirement Mistakes": https://app.hawsfederaladvisors.com/7biggestmistakeswebinar Want to schedule a consultation? Click here: https://hawsfederaladvisors.com/work-with-us/ Submit a question here: https://app.hawsfederaladvisors.com/question-submission I am a practicing financial planner, but I'm not your financial planner. Please consult with your own tax, legal and financial advisors for personalized advice.

We have recently received an inheritance and are considering using it to pay for college expenses instead of our original plan of putting it towards retirement. What do you think?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today's episode is part three of David's interview with Power of Zero Advisor Terry DuPont.  Trump tax cuts were not permanent – David explains why 2026 is going to be a key year for that. In his book Comeback America, former Comptroller General David Walker predicted that, by 2023, tax rates would have to double – or more – to keep the U.S. solvent. David shares what he believes people should do in the next few years as the country approaches an “apocalyptic” scenario. Terry DuPont is amazed by the fact that families and individuals don't seem to understand the fact that the largest expense in their lifetime will continue to be the same. According to Terry, the main issue is that people don't calculate that expense into their future. Terry asks David about the one thing he knows now that he wishes he knew when he started. David opens up about the role David Walker has played in his journey as well as about his definition of success. David warns people against letting a year go by without taking advantage of historically-low tax rates.     Mentioned in this episode: David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free 3-part video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com Terry DuPont Comeback America: Turning the Country Around and Restoring Fiscal Responsibility by David Walker Bill Clinton David Walker on 60 Minutes Why Your Taxes Could Double (2009 CNN article by David Walker) I.O.U.S.A. (2008 documentary featuring David Walker)

My husband and I are trying to decide if we should be making our retirement contributions on a pre-tax basis or should we be using the Roth option?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Can Jessie and Becky in Iowa retire now at age 52? Should Robert and his wife file their taxes separately, to pay less tax on their required minimum distributions? Can Joe and Al validate Mike in Minnesota's retirement plan, and does a backdoor Roth make sense for him? How in the world will Mike in New York be able to retire at a reasonable age? And what will retirement income look like for Marty in San Diego? Just spitballs here, no retirement advice! Timestamps: 00:49 - Can We Retire Now at Age 52? (Jessie and Becky, IA) 10:09 - Should We File Taxes Separately to Minimize Taxes on RMDs? (Robert) 19:56 - Validate Our Retirement Plan: Does a Backdoor Roth Make Sense? (Mike, MN) 25:11 - How in the World Am I Going to Retire at a Reasonable Age? (Mike, Utica, NY) 29:19 - What Will Our Retirement Income Look Like? (Marty, San Diego) 35:06 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-453  Retirement Readiness Guide - free download Retirement Pop Quiz - how well do you know retirement? EASIRetirement.com - free retirement calculator Episode Transcript Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Should I be paying attention to the financial milestones that the "experts" say you should be hitting at every age?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today's episode is part two of David's interview with Power of Zero Advisor Terry DuPont.  David talks about the approach many major money management institutions follow, and how it differs from how David and Terry do things. There are situations where large money management institutions forbid their advisors from ever bringing up, for example, Roth conversions. David invites listeners to browse the web trying to find a Ken Fisher article discussing the benefits of a Roth conversion. David discusses what makes the Power of Zero approach stand out in the financial planning industry. People seem to be hungering for real solid strategies that can help insulate them from the impact of rising taxes, says David. David lists a few reasons why the advice people may get from gurus like Dave Ramsey or find on platforms like TikTok isn't useful. David recommends having a balanced and comprehensive approach to tax-free retirement that takes advantage of all the nooks and crannies in the IRS tax code. There are different things David likes about Roth IRAs, Roth 401ks, Roth Conversions, Life Insurance Retirement Plans, and tax-free social security – he touches upon them.     Mentioned in this episode: David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free 3-part video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com Terry DuPont Ken Fisher Fisher Investments Dave Ramsey Suze Orman

Episode 252 - We've been bombarded by mass media touting the benefits of doing a Roth conversion, but they may not be right for everyone.

Why does Becca in Florida's advisor "poo-poo" her strategy for funding 529 plans for education? Keith, commenting on Spotify, wants to know about reimbursing yourself from a 529 plan for the scholarship amount used for education without penalty, and Wendy way up in New York wants to know if she should use retirement funds to pay for college and home renovations. Plus, what are the pros and cons of starting Roth conversions for Renee in Wisconsin, and is she on track for retirement? Will the IRS penalize Dan in Michigan for not paying Roth conversion tax in January? With the 5-year Roth clock, how does compounding interest work when Aaron in Ohio changes custodians? And Kirk in Iowa wonders how the Affordable Care Act tax credit works with dependents.  Timestamps: 00:55 - Why Doesn't My Financial Advisor Want Me to Fund 529 Plans? (Becca, FL) 08:19 - Is 529 Plan Self-Reimbursement for Scholarships Okay? (Keith) 10:22 - Should We Use Retirement Funds to Pay for College and Home Renovations? (Wendy, way up in north NY) 18:11 - Pros and Cons of Starting Roth Conversions: Are We On Track for Retirement? (Renee, WI) 28:58 - Is the IRS Going to Penalize Me For Not Paying Roth Conversion Tax in January? (Dan, Milford, MI) 30:38 - Roth 5-Year Clock: Compounding Interest on Rolled Over Retirement Accounts (Aaron, OH) 32:19 - How Does the Affordable Care Act Tax Credit Work with Dependents? (Kirk, IA) 37:11 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-452  ABCs of College Funding - free download Money Saving Tips fro Funding College - YMYW TV How to Save for Education; 529 Plan, Coverdell, Prepaid Tuition and More - on-demand webinar Episode Transcript Ask Joe & Big Al On Air for your Retirement Spitball Analysis

As I approach 40, I have recently changed jobs and want to know if I should solely contribute to Roth for both our IRAs and my TSP?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With our first child on the way, we're trying to figure out a way to finance a pretty big renovation project. Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today, we're diving into the listener mailbag once again, to answer your questions on tax planning and strategies for the year ahead. As we approach the end of the year, it's crucial to get your financial ducks in a row so that you can keep more of your hard-earned money. Scott offers valuable insights on whether to file taxes jointly or separately, how IRMAA can affect your Medicare premiums, tax surprises that can be caused by receiving unexpected income, and more.   Here are the questions we'll tackle in today's show: Husband is 70, wife is 65- Is it okay to file separately so each one can do Roth Conversions before RMDs kick in? How do you feel about taking a lump sum out of a 457B account? Is there any drawback to this besides taking a big sum of money? Will we owe any more taxes? I received a big bonus this year.  My company withholds for tax.  I assume there is nothing else I need to do from a tax perspective?   Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com  Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ       

Should Jim in New Jersey do the YMYW-infamous Megatron (the Mega Backdoor Roth IRA) or use his Roth 401(k) - and how can he keep bonds out of his Roth accounts? Joe and Big Al discuss the January first start date when it comes to the 5-year rule on Roth conversions for Nancy in Wisconsin, and they spitball on those Roth clocks for withdrawals and tax-efficient investments for Johnny Mercer in Savannah, GA, who also wants to know the pros and cons of bonds vs. bond funds vs. CDs. Plus, should Brad in St. Louis incorporate bonds into his investment portfolio, given the fact that he will have pensions and Social Security providing 5 streams of fixed income in retirement?  Timestamps: 00:58 - The Megatron: Mega Backdoor Roth IRA vs. Roth 401(k) (Jim, NJ) 14:42 - 5-Year Rule on Roth Conversions: How Does January First Default Start Date Apply? (Nancy, WI) 19:43 - 5-Year Rule on Roth Conversions vs. Tax-Efficient Investments, Bond Funds Vs. Bonds Vs. CDs (Johnny Mercer, Savannah, GA) 32:42 - What's the Best Strategy for Incorporating Bonds into Our Retirement Portfolio? (Brad, St. Louis) 40:09 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-451  Complete Roth Papers Package - includes the Roth Basics Guide, the 5-Year Rules for Roth IRA Withdrawals, and the Ultimate Guide to Roth IRAs 10 Steps to Improve Investing Success Investing Basics Guide Episode Transcript Ask Joe & Big Al On Air for your Retirement Spitball Analysis

My car loan is driving me nuts, can I go ahead and pay it off or should I focus on retirement savings?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Jim and Chris discuss listener questions relating to Social Security, IRMAA, Roth conversions, SPIAs, and QCDs. (8:45) George from Virginia provides some additional clarification on a Social Security question discussed on the last EDU show #2341. (21:30) A listener from New Jersey wonders if the proceeds from a home sale will push him into IRMAA […] The post Social Security, IRMAA, Roth Conversions, SPIAs, and QCDs: Q&A #2341 appeared first on The Retirement and IRA Show.

My dad recently passed away and I need some guidance as I help my mom navigate the finances. Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wealth management takes a comprehensive approach to addressing the complex financial needs of affluent individuals, and typically draws on the collective expertise of investment, tax and estate planning professionals. Nathan speaks with Chris Hennessey, Professor at Babson College specializing in wealth management, to hone in on a few key topics, including tactical Roth conversion strategies, and using different types of trusts to protect your assets. Also on MoneyTalk, Nathan explores why we are so vulnerable to financial fraud, and poses the philosophical question, “What is money?”Host: Nathan Beauvais, CFP®, CIMA®; Air Date: 10/6/2023. Have a question for the hosts? Visit sowafinancial.com/moneytalk-radio to join the conversation!See omnystudio.com/listener for privacy information.

We are at the point now where we are either going to push forward and put the pedal to the metal on our brokerage account, or max out our 403(b)s. What do you think?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On this week's Money Matters, Scott and Pat discuss one of the most important qualities of a trusted financial advisor. A caller from Colorado asks where she should put money left over from her budget. A man who started listening to the show when he was 19-years-old wants to know whether he should buy whole life insurance. Finally, Scott and Pat educate a California caller on why and when one should do Roth conversions.   Join Money Matters:  Get your most pressing financial questions answered by Allworth's CEOs Scott Hanson and Pat McClain live on-air! Call 833-99-WORTH. Or ask a question by clicking here.  You can also be on the air by emailing Scott and Pat at questions@moneymatters.com. Download and rate our podcast here.

We have three rental homes and I'm wondering if we should sell them and invest in the market? Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

I am currently contributing most of my 401(k) elections as Roth. My financial advisor told me to stop doing this and make all my contributions pre-tax. Is he correct?Have a money question? Email us hereSubscribe to Jill on Money LIVEYouTube: @jillonmoneyInstagram: @jillonmoneyTwitter: @jillonmoneySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.