Podcasts about Roth IRA

Book a Call: https://directedira.com/appointment/Alternative Asset Summit Tickets: https://altassetsummit.com/#ticketIn this episode of the Directed IRA Podcast, Mat Sorensen and Mark Kohler unpack one of the most overlooked yet powerful tax-advantaged accounts available—the Health Savings Account (HSA). Often dismissed as a simple medical savings tool, the HSA actually offers a triple tax benefit: tax deductions for contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses—at any age.Mat and Mark explain how to qualify for and fund an HSA, the contribution limits for 2025 (including catch-up contributions), and why they rank the HSA alongside the Roth IRA as a top wealth-building priority. They also reveal how you can invest your HSA beyond savings accounts and mutual funds, using a self-directed HSA to buy assets like real estate, crypto, livestock, and private investments—keeping all gains in the account tax-free.Through real-life examples, including ranch cattle investments and rental properties, they illustrate how creative investors are compounding returns inside their HSAs for future medical costs. They also discuss strategic withdrawal planning—why delaying reimbursements can supercharge your tax-free compounding—and review what qualifies as a medical expense under IRS rules, from dental work and prescription drugs to service animals and long-term care premiums.If you've ever thought an HSA was just for paying your doctor bills, this episode will change your perspective and show you how to turn it into a dynamic, tax-free wealth-building vehicle.Chapters00:00 - Introduction to HSA Triple Tax Benefit02:09 - HSA Eligibility and Contribution Limits10:30 - Self-Directing Your HSA Investments16:14 - Livestock and Creative HSA Investments20:56 - Reimbursing Medical Expenses Strategically25:30 - Qualifying Medical Expenses and Planning30:15 - Final Tips and AltAsset SummitDirected IRA Homepage: https://directedira.com/Directed IRA Explore (Linktree): Directed IRA Homepage: https://directedira.com/ Directed IRA Explore (Linktree): https://linktr.ee/SelfDirectedIRA Book a Call: https://directedira.com/appointment/ Other:Mat Sorensen: https://matsorensen.com & https://linktr.ee/MatSorensen KKOS: https://kkoslawyers.comMain Street Business https://mainstreetbusiness.com

Whether you live in California or elsewhere, understanding how a trust works can protect your assets, prevent costly probate, and ensure your wishes are honored. From successor trustees to buy-sell agreements for business owners, Jason and Alex share real-life stories — some tragic, some uplifting — that illustrate why planning ahead is critical. They explain:

"Rubble and Skye" in Minnesota want to spend $65,000 a year in retirement, and they'll have $67K in annual fixed income. Are they cutting it too close? "Atouk and Tala" in New Jersey will have retirement money, Social Security, and “Lumpy,” their lump sum pension - will they be okay? We'll find out today on Your Money, Your Wealth® podcast number 542 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, should David in Redondo Beach California use his Roth money to buy a home? And what do the fellas think about "Charlie Pepper" in Colorado using a home equity line of credit (HELOC) for retirement spending, instead of living off of pre-tax money? Free financial resources & episode transcript: https://bit.ly/ymyw-542 DOWNLOAD the Investing Basics Guide WATCH Financial Boot Camp on YMYW TV COMPLETE the 8th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (secret password: ymyw) ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment LEAVE YOUR HONEST RATINGS AND REVIEWS on Apple Podcasts SUBSCRIBE or FOLLOW on your favorite podcast app JOIN THE CONVERSATION on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:43 - $250K Saved, $67K Fixed Income, $65K Spending. Are We Cutting Retirement Too Close? (Rubble & Sky, MN) 05:20 - We Have a $700K Pension, $335K Retirement, Plus Social Security. Will We Be OK? (Atouk and Tala, NJ) 13:14 - Watch Financial Boot Camp on YMYW TV, Download the Investing Basics Guide 14:03 - Should I Use My Roth Money for a Home Purchase? (David, Redondo Beach, CA) 21:03 - Complete the 8th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (secret password: ymyw) 22:01 - HELOC vs. Pre-Tax Account for Retirement Spending (Charlie Pepper, CO) 34:23 - Next Week on YMYW Podcast: Guest Co-Host Marc Horner, CFP® 34:53 - YMYW Podcast Outro

Are you taking advantage of all your Roth opportunities? We break down the differences between the Roth IRA, Roth 401(k), or the Mego Backdoor Roth 401(k). by comparing your choices with another favorite summer treat - ice cream. We break down the basics, benefits, and ideal life stages for each account type—whether you're just scooping your first vanilla cone with a Roth IRA, adding some flavor with a Roth 401(k), or going all-out Neapolitan with the Mega Backdoor Roth. We also share smart tips on tax brackets, income planning, and how to maximize your options for a sweeter financial future. If you're looking to optimize your retirement savings and want more flexibility, this episode is the perfect treat. Outline of This Episode (00:00) Roth IRA Overview. (04:00) Mid-career Roth 401(k) strategy. (06:42) 401(k): Traditional vs. Roth Benefits. (11:08) Optimizing retirement savings strategies. (12:57) Tax strategies for retirement flexibility. (18:04) Retirement tax flexibility insights. ***********

Not all retirement plans are created equal. When it comes to the 403bs many teachers and non-profit workers are offered - the math is wrong. And not all 401(k)s will serve you well. Knowing how to get the most from your investments can mean WAY more money in retirement.   Also - It's rare to find the opposite of shrinkflation, but some retailers and restaurants are filling the value gap - in buckets!  Retirement Plan Choice: Segment 1 Ask Clark: Segment 2 Bonus! Buckets Of Coffee: Segment 3 Ask Clark: Segment 4 Mentioned on the show: ⁠Teachers Are Learning a Hard Lesson. Their Retirement Plans Cost a Fortune.⁠ ⁠What Is a 403(b) and How Does It Work?⁠  /   ⁠403bwise.org⁠ ⁠How To Open a Roth IRA⁠ ⁠401(k)s Weren't Built for the Gen Z Economy⁠ ⁠Why You Need To Know Your Company 401(k) Fees⁠ ⁠Investing & Retirement Archives - Clark Howard⁠ ⁠What Is a Fiduciary Financial Advisor and Do I Need One?⁠ ⁠Your Morning Coffee, in a Bucket⁠ Is Now a Good Time To Buy an Electric Vehicle? ⁠Report: 4 Used Electric Vehicles Under $25,000⁠  /  ⁠ABRP Clark.com resources Episode transcripts Community.Clark.com  /  Ask Clark Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back to another episode of the Building Your Money Machine Show! Today, I'm pulling back the curtain on a question that eats at almost everyone on their wealth journey: Why does it seem like people who aren't any “smarter” than you are making more money—and living their dream lives—while you're stuck meal-prepping, maxing out your Roth IRA, and still feeling… stuck?Let's get real. We've all been told that if you're smart, work hard, and follow the “rules,” wealth will follow. But after decades of working with everyone from broke folks to billionaires, I've uncovered the hard truth: intelligence alone doesn't guarantee wealth. Not even close.In today's episode, I unpack the “intelligence myth” and why the highest IQs aren't leading the pack financially. We'll talk about science-backed reasons why taking action, building grit, and tolerating risk trump being the “smartest” person in the room.IN TODAY'S EPISODE, I DISCUSS:The myth that intelligence equals wealthWhy “dumb” or less-experienced people often succeedThe 5 key traits that predict wealth far better than raw smartsWhy fast action, micro-successes, and starting before you're ready will always beat waiting for the perfect momentHow perfectionism masquerades as procrastination and keeps you brokeThe practical, actionable steps to align, amplify, and automate your income How to finally separate your income from your effort and achieve true financial freedomWhy being on the field is the only way to win the wealth game—and how to get started now, even if it's just with $5RECOMMENDED EPISODES FOR YOUIf you liked this episode, click here to enjoy these and more:https://melabraham.com/show/15 Things That Are a Complete Waste of Your MoneyIf The Dollar Is Collapsing - Is It Worth Saving Money?7 Smart Habits of Quiet Millionaires7 Reasons Why The Wealthy NEVER Trade Time For MoneyThe Truth About Net Worth: Are You Rich or Poor?RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:15 Things That Are a Complete Waste of Your Money:https://youtu.be/0aeP90sF5UQIf The Dollar Is Collapsing - Is It Worth Saving Money?: https://youtu.be/yG3CoFaYV2Y7 Smart Habits of Quiet Millionaires: https://youtu.be/aeTEvvI_H407 Reasons Why The Wealthy NEVER Trade Time For Money: https://youtu.be/Jg_8jupAGkQORDER MY NEW USA TODAY BESTSELLING BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that's no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.When you do you'll also get over $1100 in wealth resources & bonuses for FREE! TAKE THE FINANCIAL FREEDOM QUIZ:Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com

Financial Coaching & Money Mentor Opportunities Feeling confident in your research but stalled when it comes to taking action on your military family's financial plan? From TSP questions to credit card strategies, this episode explains how an hour with a dedicated coach can transform hesitation into clear, personalized next steps. Key Points & Topics Defining financial coaching vs. advisory services No sales pitches, no commissions, no product upsells Confidential, unbiased guidance tailored to your goals Who benefits most Active duty, Guard, Reserve, military spouses, cadets, midshipmen Dual-military couples, high-net-worth families, soon-to-commission officers Typical coaching session structure Pre-call questionnaire to customize the conversation One-hour call via Google Meet  Post-call recap email with transcript and bullet-pointed action steps Sample coaching topics TSP vs. traditional/Roth IRA decisions Career starter loan considerations Financial therapy: uncovering money scripts and spending habits Helping improve communication with your spouse around money Credit card strategies, MLA/SCRA protections, maximizing points redemptions State tax benefits and Military Spouse Residency Relief Act Booking details and logistics Schedule via Calendly at militarymoneymanual.com/mentor One-time fee ($150 currently as of time of recording), no recurring charges, Full refund if not valuable Option to be referred to military-friendly CFP network if needed such as Military Financial Advisors Association (MFAA) or Military Tax Experts Alliance Links Mentioned https://militarymoneymanual.com/mentor https://hellonectarine.com/r/military https://militaryfinancialadvisors.org https://militarymoneymanual.com/UMC3 Stop second-guessing and start implementing your financial plan today. Book your one-hour military money mentor session today and walk away with a clear roadmap to your goals. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

Thinking about a Roth IRA conversion in 2025? With tax rates locked in and new deductions available under the Big, Beautiful Bill, this year could be an ideal time to move funds from a traditional IRA or 401(k) into a tax-free Roth IRA. But timing is everything, and making the wrong move could increase your Medicare premiums or push you into a higher tax bracket. In this episode of Protect Your Assets, David Hollander explains how Roth conversions work, the benefits and risks in today’s tax environment, and strategies to determine the right amount to convert. You can send your questions to questions@pyaradio.com for a chance to be answered on air. Catch up on past episodes: http://pyaradio.com Liberty Group website: https://libertygroupllc.com/ Attend an event: www.pyaevents.com Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/ See omnystudio.com/listener for privacy information.

In this episode of the A Wiser Retirement® Podcast, we explore the financial and emotional realities of stepping away from the workforce to become a stay-at-home parent. Whether you're considering staying home temporarily or long-term, it's a decision that deserves careful financial planning. From budgeting for a single income and understanding the trade-offs in retirement savings, to evaluating insurance needs and career impact, we break down what families need to consider to make the best choice for their future, both financially and personally.Related Podcast Episodes:- Ep 274: Buying a Home in the Best School District: What You Need to KnowRelated YouTube Videos:- Why Every Parent Should Consider a Roth IRA for Their Child- Greenlight Debit Card 2024 Honest ReviewLearn More:- About Wiser Wealth Management- Schedule a Complimentary Consultation: Discover how we can help you achieve financial freedom.- Access Our Free Guides: Gain valuable insights on building a financial legacy, the importance of a financial advisor for business owners, post-divorce financial planning, and more! Stay Connected: - Social Media: Facebook | Instagram | LinkedIn | Twitter- A Wiser Retirement® YouTube Channel This podcast was produced by Wiser Wealth Management. Thanks for listening!

Thinking about a Roth IRA conversion in 2025? With tax rates locked in and new deductions available under the Big, Beautiful Bill, this year could be an ideal time to move funds from a traditional IRA or 401(k) into a tax-free Roth IRA. But timing is everything, and making the wrong move could increase your Medicare premiums or push you into a higher tax bracket. In this episode of Protect Your Assets, David Hollander explains how Roth conversions work, the benefits and risks in today’s tax environment, and strategies to determine the right amount to convert. You can send your questions to questions@pyaradio.com for a chance to be answered on air. Catch up on past episodes: http://pyaradio.com Liberty Group website: https://libertygroupllc.com/ Attend an event: www.pyaevents.com Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/ See omnystudio.com/listener for privacy information.

In this episode, Matt Goolsby and team talk about OB3, reviewing Medicare plans, and the confusion about Roth Conversions. Go to RetirementHelp.com to learn more #retirement #podcast #show #money #finance #stockmarket #taxes #estateplanning #medicare #healthcare #Trump #onebigbeautifulbill #congress #republicans Between 03/2020 and 06/2025 investment advisory services were offered through Foundations Investment Advisors LLC (CRD#:175083) Investment advisory services are dually offered through Foundations Investment Advisors, LLC, an SEC-registered investment adviser, and Market Investment Group, LLC, an SEC-registered investment adviser. The investment adviser representatives of Market are also affiliated with and registered through Foundations Investment Advisors, LLC, and may provide services on behalf of both firms to clients or prospective clients where properly licensed or exempt. This show is presented by Market Investment Group, LLC, an SEC registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean that the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting. The information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the presenter on the date of the show's publication and are subject to change. The information presented is not an offer to buy or sell, or a solicitation of any offer to buy or sell, any of the securities discussed. You should consult with a professional adviser before implementing any of the strategies discussed. Any legal or tax information provided in this show is general in nature. Always consult an attorney or tax professional regarding your specific legal or tax situation. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from fees charged for advisory services. Insurance products also contain additional fees and expenses. Social Security rules and regulations are subject to change at any time. Always consult with your local Social Security office before acting upon any information provided herein. A Roth conversion may not be suitable for your situation. The primary goal in converting retirement assets into a Roth IRA is to reduce the future tax liability on the distributions you take in retirement, or on the distributions of your beneficiaries. The information provided is to help you determine whether or not a Roth IRA conversion may be appropriate for your particular circumstances. Please review your retirement savings, tax, and legacy planning strategies with your legal/tax advisor to be sure a Roth IRA conversion fits into your planning strategies. This is not endorsed by the U.S. government or associated with any federal Medicare program. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options. All client or prospective client names have been changed to protect the identities of the individuals discussed. All rights reserved.

This week's questions: What are the rules and costs for moving money from a brokerage account into a Roth IRA? Any risks to having a single bank that houses all your accounts? And how to find a good accountant?Additional Episode Take-aways:Why millennials are financially ahead on paper but still feel behind emotionallyHow to harness AI for smarter, more intentional spendingThe hidden costs of return policy abuse—and how it could impact your favorite retailersThe real danger behind “feminine energy” dating advicePractical ways to protect yourself financially in relationshipsWhy playful money trends like “Girl Math” aren't as harmless as they seemLinks & Episodes Referenced: Priya Malani, Founder of Stash WealthSoMoneyLinks.com – My curated tools for saving, investing, and earning moreApply to Farnoosh BTS – My fall mentorship program for entrepreneurs and content creatorsWant to ask a question for an upcoming show? Head to SoMoneyPodcast.com or DM me @FarnooshTorabi on Instagram!

Marty discusses the evolving landscape of retirement planning, emphasizing the need to rethink traditional strategies. He addresses common concerns such as mortgage management, determining retirement income needs, the implications of downsizing, and the impact of inflation on retirement savings. The conversation also covers healthcare costs, housing choices, and the balance between supporting grandchildren and ensuring personal financial security. Listener questions provide further insights into managing retirement funds and legacy planning. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.

Kelley covers strategies that can build an income component in your retirement that can mimic your paycheck. She talks about calculating your retirement expenses, assessing your savings, developing a withdrawal strategy, and exploring additional income sources. She also warns of retirement mistakes some boomers and older members of Generation X could be making. Kelley also covers real estate strategies in retirement. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.

Don and Tom dive headfirst into the wild world of bad financial predictions—specifically, the apocalyptic ramblings of Rich Dad Poor Dad author Robert Kiyosaki. They dissect his decades-long streak of failed forecasts, poke holes in his fear-fueled pitch for gold, silver, and Bitcoin, and remind listeners that gurus don't predict the future—they profit from pretending they can. Listener questions cover 529 plan choices, 457(b) vs Roth IRA, the small-cap allocation in AVGE, and a plea for Don to never give up managing his own money. 0:04 Tom banned from pushing buttons—again 1:00 Why do we idolize financial “gurus” who are chronically wrong? 2:21 Enter Robert Kiyosaki: The doomsayer who keeps getting richer 3:05 Don confronts Kiyosaki over his bogus “guarantee” ad 3:53 His silver and market crash predictions: A 23-year flop fest 5:16 Latest Kiyosaki fear-pitch: Gold, silver, Bitcoin… again 6:37 His one right prediction (Bitcoin hitting $100K) 7:55 Critical reviews: Conspiracies, platitudes, and risky advice 9:22 Can Buffett, Lynch, or Bogle be called “gurus”? 10:24 Listener Q1: Fidelity 529 target date fund—too expensive? 11:26 UTANX and low-cost age-based 529 alternatives (like Utah's plan) 14:02 Listener Q2: Roth 457(b) with high fees vs Roth IRA 16:47 Listener Q3: Does AVGE need a separate small-cap fund? 19:10 Listener Q4: Should Don stop managing his own money? 21:08 Why everyone needs a backup advisor—even advisors 22:17 Don's voice acting love: Mighty Man Season 3 teaser 22:34 Listener Q5: AVUV vs AVGE—when and why to use each 24:20 AVGE asset breakdown—15 funds in one 26:12 Explaining the podcast schedule (Monday–Friday layout) 27:34 International listeners, Spotify vs Apple, and how to tune in Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Personal Finance Podcast,  we are going to answer questions on this Money Q&A about  she's 64, broke, and wants to day trade - Here's What I'd Tell Her. Today we are going to answer these questions: Should my 67-year-old mom take a $100K lump sum pension or $720/month for life — and what should she do with her 401(k) and HSA? How does tax loss harvesting actually work — and is it worth doing? We found our dream home, but the seller won't move out for months. How do we buy the house without becoming homeless in the process? Why use a high-yield savings account for emergencies instead of a brokerage? And how do retirement rules actually work with Roth vs. Traditional contributions? My 64-year-old mom is thinking about day trading to catch up for retirement. She's been a single caregiver her whole life. What should someone in her position actually do to build financial security? I'm 47, contribute 15% to my 401(k), and have no Roth savings. Should I cut my 401(k) down to the match and start maxing out a Roth IRA to create tax-free income in retirement? How Andrew Can Help You: Listen to The Business Show here. Don't let another year pass by without making significant strides toward your dreams. "Master Your Money Goals" is your pathway to a future where your aspirations are not just wishes but realities. Enroll now and make this year count! Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! Learn to invest by joining  Index Fund Pro! This is Andrew's course teaching you how to invest!  Watch The Master Money Youtube Channel! , Ask Andrew a question on Instagram or TikTok Learn how to get out of Debt by joining our Free Course  Leave Feedback or Episode Requests here.  Car buying Calculator here Thanks to Our Amazing Sponsors for supporting The Personal Finance Podcast Shopify: Shopify makes it so easy to sell. Sign up for a one-dollar-per-month trial period at  shopify.com/pfp Thanks to Policy Genius for Sponsoring the show! Go to policygenius.com to get your free life insurance quote. Indeed: Start hiring NOW with a SEVENTY-FIVE DOLLAR SPONSORED JOB CREDIT to upgrade your job post at Indeed.com/personalfinance Go to https://joindeleteme.com/PFP20/ for 20% off! Shop outdoor furniture, grills, lawn games, and WAY more for WAY less. Head to wayfair.com Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com/PFP Chime: Start your credit journey with Chime. Sign-up takes only two minutes and doesn't affect your credit score. Get started at chime.com/  Connect With Andrew on Social Media: Instagram TikTok Twitter Master Money Website Master Money Youtube Channel  Free Guides: The Stairway to Wealth: The Order of Operations for your Money How to Negotiate Your Salary The 75 Day Money Challenge Get out Of Debt Fast Take the Money Personality Quiz Learn more about your ad choices. Visit megaphone.fm/adchoices

The S&P 500 just achieved something it's only done four times in the last 50 years and what could that mean for investors going forward. In this episode of Behind the Wealth, Roger & Elias take a closer look at the historical context behind this rare market event, what happened in previous instances, and why it's important to balance optimism with a disciplined strategy. Plus, they break down five common money habits that could quietly undermine your financial progress—especially during periods of market strength. From emotional spending to neglecting your emergency fund, small missteps can add up over time. Take control of your financial future: https://www.btwealthshow.com/start-planning Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. The opinions voiced in this show are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult with your attorney, accountant, and financial or tax advisor prior to investing.  Premier Investments & Wealth Management and LPL Financial do not provide tax advice, please consult your tax professional.  Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal. Asset allocation does not ensure a profit or protect against a loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal. Withdrawals prior to age 59 ½ may result in a 10% IRS penalty tax in addition to current income tax. A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply. Consult your tax professional about eligibility to Roth and Traditional IRA contributions. Contributions and earnings in a Roth IRA can be withdrawn without paying taxes and penalties if the account owner is at least 59 ½ and has held their Roth IRA for at least five years. Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. Premier Investments & Wealth Management and LPL Financial do not provide specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

Me gente, today's episode is a WHOLE vibe. Jannese is joined by Wilmarie and Adriana—aka Investing Jevas—two baddies who hit financial independence before turning 30. Yes, you read that right. These women are out here building generational wealth, breaking cycles, and reclaiming their financial power—and now they're bringing you the blueprint.From navigating Puerto Rico's wild financial systems to shifting from scarcity to abundance, this episode is a powerful reminder that we deserve financial freedom too—not just the bros on Wall Street.

New job, more income — now what? Hear how one listener is managing his Roth IRA, health savings account, high-yield savings, and more. Is it smart to use a Roth IRA like a savings account? How should you prioritize your money across savings, debt, and retirement after getting a higher-paying job? Hosts Sean Pyles and Elizabeth Ayoola answer a listener's question about managing multiple financial goals and choosing the right accounts for short- and long-term needs. But first, they share their money hot takes, including Elizabeth's thoughts on Buy Now, Pay Later (BNPL) loans and Sean's interest in stronger pro-consumer protections in light of recent federal rollbacks. Then, they talk to listener Jake, who recently relocated for a new job and is navigating how to allocate his money now that he's earning a bigger paycheck. Jake wants to know if it makes sense to use a Roth IRA for savings and how to simplify or optimize his mix of bank accounts. They cover how to prioritize emergency savings, retirement contributions, and future goals like a home purchase, all while avoiding analysis paralysis and making the most of high-yield savings accounts. Inspired to navigate your finances with an advisor? Use NerdWallet Advisors Match to find vetted professionals today at https://www.nerdwalletadvisors.com/match  Learn more about NerdWallet Wealth Partners: https://nerdwalletwealthpartners.com/  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header In their conversation, the Nerds discuss: how to use a Roth IRA for savings, Roth IRA withdrawal rules, high yield savings account vs Roth IRA, best high yield savings accounts, what is a CD ladder, Buy Now Pay Later pros and cons, budgeting after a raise, how to prioritize financial goals, how to automate savings, how to manage multiple bank accounts, closing bank accounts and credit score, best place to save for house down payment, emergency fund vs Roth IRA, what to do after getting a new job, student loan repayment benefits, HSA contribution strategy, how to save for a house in 5 years, budgeting in high cost of living area, saving for short-term goals, pros and cons of online-only banks, how to overcome analysis paralysis in finance, Roth IRA vs high yield savings account, how to choose a bank, CFPB budget cuts impact, FTC click-to-cancel rule rollback, responsible use of debt, financial planning for tech professionals, credit score impact of closing bank accounts, reverse budgeting explained, safe ways to grow savings, how to build financial peace, using automation in budgeting, HSA vs IRA vs savings, debt vs savings prioritization, how to start a CD ladder, and when not to invest money. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Timothy P. Pope, CFP®, discusses the newly signed "One Big Beautiful Bill Act" (OBBBA), breaking down the key tax changes and how they'll directly affect your bottom line. Tim explains the impact of maintaining current tax brackets, the increased standard deduction, and significant enhancements to State and Local Tax (SALT) deductions. He covers new provisions for charitable deductions, expanded child tax credits, and special interest deductions on U.S.-assembled vehicles. Additionally, Tim details the substantial improvements to 529 education savings plans and their greater flexibility moving forward.What You'll Learn from This EpisodeUnchanged Tax Brackets: Why maintaining current brackets impacts your tax planning and financial strategies.Higher Standard Deductions: Understand the new deduction levels and how they apply based on your filing status.SALT Deduction Increase: Details on the jump to a $40,000 limit and phase-out thresholds starting at certain AGI levels.Charitable Contributions: How even non-itemizers can benefit from deductions of up to $2,000.Child Tax Credit Boost: Explanation of the credit increase to $2,200 per child and the associated AGI phase-out.Vehicle Interest Deduction: Insight into the tax incentives for financing U.S.-assembled vehicles.529 Education Savings Expansion: Review major improvements, including higher withdrawal limits and new Roth IRA rollover opportunities.Resources:Schedule An AppointmentOur Practice's WebsiteSend Us Your Questions: info@pilotsportfolio.comThis episode is sponsored by: Beacon RelocationBeacon Relocation is a real estate firm helping pilots and air traffic controllers save money on their real estate transactions. By tapping into their network of over 1500 real estate agents across the country, pilots can save 20% of the real estate agent's commission towards your closing cost on the sale or purchase of your home. Visit https://www.beaconrelocation.com/ to learn more.  Timothy P. Pope is a Certified Financial Planner™and principal owner of 360 Aviation Advisors, LLC (“360 Aviation Advisors”), a registered investment advisory firm. Investment advisory services are provided through 360 Aviation Advisors, in its separate and individual capacity as a registered investment adviser. Podcast episodes are provided through Pilot's Portfolio, in its separate and individual capacity. We try to provide content that is true and accurate as of the date of publishing; however, we give no assurance or warranty regarding the accuracy, timeliness, or applicability of any of the contents. We assume no responsibility for information contained on this website and disclaim all liability in respect of such information, including but not limited to any liability for errors, inaccuracies, omissions, or misleading or defamatory statements. Links to external websites are provided solely for your convenience. We accept no liability for any linked sites or their content and remind you that we have no control over their content. When visiting external web sites, users should review those websites' privacy policies and other terms of use to learn more about, what, why and how they collect and use any personally identifiable information. Usage of this content constitutes an explicit understanding and acceptance of the terms of this disclaimer.

Jason Labrum and Alex Klingensmith share how to align parenting strategies with financial education across the four major phases: Caretaker, Cop, Coach, and Consultant. From 529 plans to allowance systems and Roth IRAs, learn how to prepare your kids for a lifetime of smart financial decisions. Whether you have toddlers or teens, this episode gives you practical tools to raise financially empowered young adults.

From understanding if your 401(k) contributions help you qualify for a Roth IRA (spoiler: yes!), to figuring out why your home insurance just skyrocketed, to finding sneaky ways to save on that end-of-summer family vacation — we've got it covered on this week's Ask Farnoosh.Plus, a personal story about how a casual chat with a friend helped Farnoosh raise her speaking fees and start earning more.We'll also unpack a few of the biggest money headlines from the week, including:What the Fed's latest decision really means for your walletA rare bipartisan housing bill with real promiseAnd a study that shows how preschool could boost your salary, not just your kid's futureQuestions Answered:“How do I ask for a sign-on bonus without sounding greedy?”“Do 401(k) contributions help me qualify for a Roth IRA?”“How can I save on a last-minute family vacation?”“Why did my homeowners insurance premium jump 30% this year?”Links + Resources Mentioned:SoMoneyLinks.com – My curated tools for saving, investing, and earning moreApply to Farnoosh BTS – My fall mentorship program for entrepreneurs and content creatorsWant to ask a question for an upcoming show? Head to SoMoneyPodcast.com or DM me @FarnooshTorabi on Instagram!

With Don out, Tom Cock and advisor Roxy Butner tackle the increasingly hot question: should you trust a human or a machine with your money? They dig into two recent studies—one showing AI beating most fund managers, and another suggesting no long-term winner at all. Listener questions range from DIY ETF portfolios and Roth IRA conversion pitfalls to a wildly complex $2.5M retirement scenario involving crypto, precious metals, and a self-directed IRA full of land. Tom and Roxy break it all down with practical advice and a few well-placed jabs at donut holes, Darth Vader, and inheritance headaches. 0:04 More machine than man? Tom opens with AI vs. human money management 1:14 Stanford AI outperforms 93% of human fund managers—sort of 2:35 Another study says: no clear winner between AI and humans 3:12 Why persistent outperformance doesn't exist—and that's OK 3:39 Roxy joins: paddleboards, decorating, and financial clarity 4:16 Listener question: DIY ETF portfolio for granddaughter (too complex) 5:54 Portfolio breakdown: too much large cap, bonds in a Roth? 7:44 Listener question: Switching from Vanguard Star Fund to ETFs 9:32 Roth IRA tips: stock-heavy, not for bonds or cash 10:25 Listener question: Deductible IRA mistake—now what? 11:54 Backdoor Roth IRA rules, income limits, and pro-rata traps 13:19 Recharacterization forms and Social Security timing advice 14:44 Listener question: ETF dividends—should I reinvest or not? 15:14 ETF tax basics: capital gains vs. dividends 16:42 Listener question: $2.5M+ retirement plan review from Woodstock, GA 17:14 Income breakdown: Air Force pension, SS, rental income, part-time job 18:43 Self-directed IRA full of land, CDs, and cash 19:59 Precious metals and crypto: too much risk, not enough balance 20:35 Bonds or not? Depends on goals, not age 21:55 Planning questions: What's the money for? 23:25 RMDs and taxes from a self-directed IRA 24:27 Fair market value complications and IRS penalties 25:46 Inheriting land in an IRA: yes, it's a pain 27:28 Wrap-up: Why human advice still matters—even if AI's getting smarter Learn more about your ad choices. Visit megaphone.fm/adchoices

We've seen weak performance from U.S. large-cap tech companies this year, but based on their stock market value, these companies still dominate the U.S. market. Peter and Jonathan discuss whether we should be concerned about concentration risk or if having a top-heavy market is a common phenomenon. Plus, hear why you might consider contributing to a Roth IRA for your working child. Hosted by Creative Planning's Director of Financial Education, Jonathan Clements, and President, Peter Mallouk, this podcast takes a closer look into topics that affect investors. Included are in-depth discussions on financial planning issues, the economy and the markets. Plus, you won't want to miss each of their monthly tips! Important Legal Disclosure: creativeplanning.com/important-disclosure-information/ Have questions or topic suggestions? Email us @ podcasts@creativeplanning.com

Send us a textThe episode touches on the lack of personal finance education in schools, with Erik advocating for more practical courses to set young adults up for success. He also describes his approach to budgeting as a way to reduce mental stress and free up brain space for more important life decisions.Overall, this episode is packed with practical finance advice, life lessons from the military, and personal anecdotes on happiness, resilience, and purpose. It's a great listen for anyone looking to better align their finances with their values and build a foundation for long-term freedom.===Time Codes:00:00 Building a Guest Wish List04:31 Passion for Finance and Investing07:06 Enhancing Financial Resilience13:18 "Early Financial Literacy's Impact"15:00 Intentional Living: Values-Driven Decisions18:22 Pre-Kids Trip to Australia22:05 Family Time as Life's North Star25:17 Financial Stress and Life Impact27:28 Book Recommendations for Financial Resilience31:50 "Retirement Plans and Lost Time"36:13 Amazon Wish List Spending37:57 Managing Inbound Requests41:56 "Happier Future in Colorado"Connect with Passing The Torch: Facebook and IG: @torchmartin More Amazing Stories: Episode 41: Lee Ellis – Freeing You From Bond That Make You InsecureEpisode 49: Ryan Hawk – Crafting a Legacy of LeadershipEpisode 52: Riley Tejcek – Mission of Empowerment and Endurance

If you've ever wondered what the difference is between a Roth IRA and a brokerage account (and which one to start with) this episode breaks it down in a simple way. Andrea shares her personal investing journey as a former saver who opened a Roth IRA first… then realized she needed more than just retirement investing to build wealth. You'll learn:✅ What a Roth IRA actually is (and why it's often your first step)✅ Why a brokerage account is key if you want your money to grow before retirement✅ How Andrea grew her brokerage account to $32k, with over $10k in passive gains ✅ When to use a high yield savings account vs when to investWhether you're an investing beginner or finally ready to stop leaving your money sitting in savings, this episode helps you learn how to start making your money work.

Send us a textRetirement expert Matt Ruttenberg walks through 5 real-world business scenarios and how to choose the smartest retirement plan for each. Whether you're flying solo or managing a growing team, this episode breaks down IRA, SEP, SIMPLE, 401(k), and advanced options in a simple way… Plus, how to take advantage of powerful tax credits.

Term or whole life insurance? 401(k) or Roth IRA? Side hustle or not? Art covers a lot of ground in this by answering six money questions. This is your money questions episode! Don't miss it!Resources: 8 Money MilestonesMy Church Staff: StewardshipAsk a Money Question!

In today's episode, we break down a viral TikTok retirement hack for kids, explore the unexpected benefit of working with a financial advisor (according to Vanguard), and uncover a powerful mindset shift that makes people 14% more likely to save for retirement. Whether you're planning for your future (or your child's) this episode connects trends, research, and real strategy. Take control of your financial future: https://www.btwealthshow.com/start-planning Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. The opinions voiced in this show are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult with your attorney, accountant, and financial or tax advisor prior to investing.  Premier Investments & Wealth Management and LPL Financial do not provide tax advice, please consult your tax professional.  Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal. Asset allocation does not ensure a profit or protect against a loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal. Withdrawals prior to age 59 ½ may result in a 10% IRS penalty tax in addition to current income tax. A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply. Consult your tax professional about eligibility to Roth and Traditional IRA contributions. Contributions and earnings in a Roth IRA can be withdrawn without paying taxes and penalties if the account owner is at least 59 ½ and has held their Roth IRA for at least five years. Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. Premier Investments & Wealth Management and LPL Financial do not provide specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

In this episode of the Sunlight Tax Podcast, I had the joy of interviewing my daughter, Farrah, about her very first job and everything she's been learning about managing money. We talked about the excitement of earning her own income, the value of saving and starting a Roth IRA early, and how taxes work. We even touched on the idea of net worth.  Farrah shared some really thoughtful insights about spending wisely and why she thinks financial education is so important for kids her age (Gen Alpha). It was also fascinating to see how her perspective reflects some of the generational shifts in how we think about money.   Also mentioned in today's episode: 03:12  First Job and Earnings Insights 06:17  Understanding Roth IRA and Compound Interest 08:56  Navigating Taxes and Financial Responsibilities 11:43  Defining Net Worth and Wealth 15:36  Lessons on Spending and Saving 18:05  The Importance of Financial Education   If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences. Links: My #1 Tip to Make Your Kid a Millionaire Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Link to pre-order my workbook, Taxes for Humans: The Workbook Get your free visual guide to tax deductions Check out my program, Money Bootcamp

What if your inheritance could grow tax-free for a decade? In this episode, Art McPherson breaks down the power of Roth IRAs, the impact of inflation on retirement, and how to avoid costly mistakes when receiving a windfall. From market volatility to mid-season tax planning, Art shares practical strategies to help you protect your future and make smarter financial decisions—whether you're retiring early or just getting started. Plus, a few laughs about sticker shock, bubble tape, and the true cost of a kiss. For more information visit www.artofmoney.com! Follow us on social media: YouTube | Instagram | Facebook | LinkedInSee omnystudio.com/listener for privacy information.

5 to 9 Things You Don't Know About 529 Plans with Chris Stack Hosts Brad Wright and Kevin Williams are joined by attorney and consultant, Chris Stack. -Chris is managing consultant, Savingforcollege.com, is a nationally recognized 529 authority and experienced in educational finance. An attorney for over 30 years, licensed in New York & Pennsylvania, Chris has experience in finance, investments and law relating to tax advantaged products, including Section 529, since it became federal law in 1996. - He has been credited for actively and successfully initiating, advocating and assisting in the 2022 federal tax law changes allowing for “leftover” 529 funds to be transferred to a Roth IRA. He's also assisted several states and plan managers implementing their 529 investment plans that now service over $20B in assets. -Currently, Chris advises and consults with sponsoring state agencies, program managers and investment companies, and presents nationally to financial advisors, accountants, and attorneys on 529 plans. They discuss: -The effects of the Big Beautiful Bill on 529 plans -How to choose the right 529 plan -Rules around converting leftover 529 funds to a Roth IRA -Why 529 accounts should be considered as part of any estate plan For more on Saving For College: Savingforcollege.com To contact Chris: cstack@savingforcollege.com

www.RPFacademy.com 

Don flies solo for another Question-and-Answer Friday (not Freaky Friday… despite Hollywood's best efforts). Listener questions cover everything from Roth IRA choices for young investors to tax loss harvesting and reducing portfolio volatility with bond allocations. Don breaks down the pros and cons of popular ETFs, explains the benefits of tilting toward small and value, and gently guides a listener away from a pricey Fidelity fund. He also reaffirms that tax loss harvesting is a two-account job and urges investors to rebalance based on total portfolio risk—not just account type. 0:04 Don rails against yet another Freaky Friday reboot 0:58 Why diversification beats chasing past winners like VTI or VONG 3:41 Small-cap and value tilt: the long-term case 4:45 Why international stocks still matter (volatility control > return chasing) 5:58 Bond options in a 401(k): FXNAX vs. stable value vs. combo 6:59 Should you count brokerage and HSA balances in your allocation mix? 8:20 Stable value is not "guaranteed" value—what you need to know 10:09 Can you tax-loss harvest in two different brokerage accounts? (Yes!) 12:51 FBGRX: Not terrible, just suboptimal. Here's what to do instead Learn more about your ad choices. Visit megaphone.fm/adchoices

“Train up a child in the way he should go; even when he is old he will not depart from it.” - Proverbs 22:6As parents, we often wonder when to begin teaching our kids about money. The simple answer? It's never too early. In fact, a study by Purdue University found that most of our lifelong money habits are formed by the age of seven. That's a sobering realization—but also a hopeful one. Because with intentionality and biblical wisdom, we can help our children become faithful stewards from an early age.Here's how to begin—step by step.Ages 3–5: Needs, Wants, and WorshipEven toddlers can begin to understand the basics of money. Start by teaching the difference between needs and wants. A home, food, and clothing? Those are needs. But that cereal with a cartoon character? That's a want—and a perfect conversation starter.As you shop, ask your child to name which items fall into which category. Then take the opportunity to remind them: God provides all our needs and blesses us with more than we deserve.Begin using the three-jar method—one for spending, one for saving, and one for giving. When your child receives birthday money or a small allowance, help them divide it equally. Let them drop their “giving” portion into the offering plate each week. It's a simple but powerful way to connect generosity with worship.Ages 6–10: Responsibility and Short-Term GoalsAt this stage, kids are ready to take on more responsibility. Assign small chores tied to a modest allowance. If they complete the job, they earn the money. If not, the allowance waits. It's a simple lesson in accountability and work ethic.If they want something beyond their current funds, help them create a short-term savings plan. Use sticker charts or visual trackers to make progress fun and tangible.Give your child a few dollars and let them plan how to spend it on snacks for the week. This is a great way to teach a foundational principle from financial teacher Ron Blue:“You always have more choices than money.”Encourage your child to give regularly to causes they care about. Ask why they want to give—and help them understand how giving reflects God's heart.Ages 11–15: Bigger Goals, Delayed GratificationNow your child may be babysitting, mowing lawns, or doing small jobs for neighbors. It's the perfect time to talk about larger savings goals—maybe a new bike or a camp trip.Consider opening a custodial savings account or using a kid-friendly money app. Walk through monthly statements together and celebrate milestones. Let them make decisions (and occasional mistakes) while you're close by to guide them.If they want to buy something online, encourage them to wait a few days, compare options, and pray before making a purchase. The lesson is clear: patience often leads to better decisions.Ages 16–18: Real-World Practice and Investing BasicsTeenagers who are working part-time jobs are ready for more advanced money management.Help them set up a formal budget with real income and categories for saving, spending, and giving. This is also a good time to introduce matching incentives: If they save $500, you match it, just like an employer's 401(k) might.Let them research a company and buy a fractional share through a custodial brokerage account. If they have earned income, consider opening a Roth IRA to model long-term investing.Remind them: Markets go up and down, but faithful stewardship builds wealth over time.The Ultimate Goal: A Faithful StewardReinforce this truth: Their worth isn't tied to their net worth. All we have is a gift from God to be managed for His glory, not our own.No matter your child's age, the goal remains the same: to raise someone who knows how to earn, manage, give, and grow what God has entrusted to them. You don't have to be a financial expert—you just have to be present and intentional.Keep the conversation going. Keep pointing them to biblical truth. And remember—this isn't just a financial lesson. It's a spiritual one.For more resources on biblical money management and to start budgeting as a family, check out the FaithFi app.On Today's Program, Rob Answers Listener Questions:I'm 58, single, and plan to keep working until I'm 70. I live frugally and want to ensure that my assets are managed wisely and passed on to my four children, especially my youngest. I'm considering setting up a trust, but the $2,000 cost seems steep. Is that the best option for someone like me who wants to ensure everything is protected and appropriately distributed?I'm looking to understand how reverse mortgages work. What kind of interest rates do they typically charge? Do they accrue interest like a traditional mortgage over time? Are there any upfront fees to get started?Resources Mentioned:Faithful Steward: FaithFi's New Quarterly Magazine (Become a FaithFi Partner)Movement MortgageWisdom Over Wealth: 12 Lessons from Ecclesiastes on MoneyLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Whether your child has earned income from a part-time job, or is working for a family business, a Roth IRA can be a game-changing tool for their financial future – but it must be done correctly. In this episode of The Agent of Wealth Podcast, host Marc Bautis explores the powerful strategy of setting up a Roth IRA for children. Inspired by recent buzz (yes, Beyoncé and Jay-Z come up), Marc explains how starting young with tax-free compounding can lead to extraordinary long-term growth. He covers everything from IRA rules and documentation requirements to real-life tax court challenges and best practices. In this episode, you will learn:The differences between Roth IRAs, Traditional IRAs, and taxable investment accounts.What counts as “earned income” and why it's essential for Roth IRA eligibility. How to legally employ your child through a family business.Real-world IRS red flags and examples of what not to do.Best practices for staying compliant and maximizing benefits.And more!Resources:Episode Transcript & Blog | Bautis Financial: 8 Hillside Ave, Suite LL1 Montclair, New Jersey 07042 (862) 205-5000 | Schedule an Introductory Call

In this episode, host Jannese Torres dives into the inspiring journey of Gabby, a 46-year-old teacher aiming to retire by 57. Discover how Gabby transformed her financial landscape by maxing out her 403B and Roth IRA, investing in index funds, and strategically planning her retirement. Jannese shares expert insights on optimizing contributions, understanding withdrawal strategies, and the importance of asset allocation as retirement approaches. Tune in to learn how you can take control of your financial future and make early retirement a reality.Need help creating your financial freedom plan? Book Your Investor Power Hour CallWant your question answered on the show? Ask your question here!More from YQD™:Full show notes: Visit our blog.Watch the full interview on YouTube — don't forget to subscribe!Grab my book Financially Lit! in English or Español.Ready to level up? Learn more about our signature programs.This episode is sponsored by BetterHelp — Get 10% off your first month: betterhelp.com/dinero Hosted on Acast. See acast.com/privacy for more information.

Find out where the housing market's headed and how to help your teen build smart credit habits early. Is now a smart time to buy a home or should you wait for mortgage rates to drop? What's the best way to help your teenager build credit before college? Hosts Sean Pyles and Elizabeth Ayoola explore these questions to help you make confident financial moves. Joined by senior news writer Anna Helhoski and housing Nerds Kate Wood and Holden Lewis, they begin with a deep dive into the current housing market, including which U.S. cities are becoming buyer-friendly and why inventory remains tight in other regions. They explain how supply levels are shifting, what's behind rising mortgage rates, and why trying to time the market might not be your best bet. Then, Sean and Elizabeth are joined by listeners Kevin and Simon, a parent-child duo, to explore how to set young adults up for financial independence. They discuss how to transition teens into responsible credit card ownership, tips for budgeting during college, and how to build long-term wealth with tools like Roth IRAs. The conversation also covers how to preserve credit history when closing joint accounts, how to approach investing for kids who are risk-averse, and how parents can step back while still offering support.  Which credit card issuers allow a co-signer? See NerdWallet's list, which includes the minimum age for each co-signer, when applicable: https://www.nerdwallet.com/article/credit-cards/which-credit-card-issuers-allow-cosigner  Use NerdWallet's free compound interest calculator to see how your savings and investment account balances can grow: https://www.nerdwallet.com/calculator/compound-interest-calculator  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header In their conversation, the Nerds discuss: housing market 2024, buyer vs seller market, mortgage rates trends, housing inventory levels, real estate market by region, months of housing supply, when will mortgage rates drop, building credit for teens, first credit card for college students, how to teach kids about money, joint credit card parent child, teen money management, best credit cards for groceries and gas, starting a Roth IRA for young adults, compound interest for students, credit score for young adults, student budgeting, helping kids become financially independent, robo-advisors for teenagers, how to choose a credit card, parenting financial literacy, Gen Z and credit cards, financial support during college, how to teach credit card responsibility, when to close joint credit accounts, multigenerational banking, real estate trends northeast vs south, affordability housing 2024, new home construction trends, and immigration and housing labor. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

“We know that our old self was crucified with him in order that the body of sin might be brought to nothing, so that we would no longer be enslaved to sin.” - Romans 6:6Being born again in Christ changes a person. We're given a new nature that fights against our old, corrupt nature. Sometimes, the evidence of this is in the area of finances. Straight ahead—a journey to faithful stewardship.Bobby's TestimonyIt's always a great privilege to connect with people, answer their financial questions, and offer help whenever possible. Recently, we spoke with Bobby from Nebraska, whose story is a powerful testament to the transformative power of faith and determination.Bobby was in a tough spot. He had accumulated significant debt, including a car repossession, delinquent medical and credit card debt, and unpaid overdraft loans sent to collections. However, despite his financial struggles, Bobby was determined to turn his life around. When asked if anything had changed in his life since accumulating that debt, Bobby shared his story.In his own words, Bobby explained, “Back then, I was big into partying and addicted to drugs. I sold drugs and went to prison for it. Well, now I'm clean and sober. I don't do any of that anymore. I actually have money in my bank account. September 10th, 2021, was the biggest start of it. That's when I gave my life to Jesus Christ. And now I'm just trying to get everything back in line and where it needs to be.”Hearing about Bobby's life change since inviting Christ into his life as his Savior was truly inspiring. His commitment to sobriety and financial stewardship is a powerful example of God's redemptive power.Steps Toward Financial FreedomA few weeks ago, we advised Bobby to take several steps to get his finances in order. First, we recommended that he pull copies of his credit reports from Experian, Equifax, and TransUnion to identify all his debts. Then, we suggested he contact Christian Credit Counselors to help manage his credit card debt through a debt management plan, which would consolidate his payments and help him pay off his debt faster.We also offered to connect Bobby with one of our Certified Christian Financial Counselors (CertCFC) at no charge. This counselor would work with him one-on-one to develop a budget and create a plan for paying off his old debts. Finally, we took a moment to pray with Bobby, thanking God for His miraculous intervention and the gift of eternal life that Bobby had received.Biblical Principles Guiding Bobby's TransformationBobby's journey highlights several biblical principles that are now guiding his life:The Body as a Temple: Bobby's decision to give up drugs aligns with 1 Corinthians 6:19, which reminds us that our bodies are temples of the Holy Spirit. Recognizing that we are not our own but belong to God is a powerful motivator for making healthy choices. Humility: Bobby's willingness to seek help, even on a public platform, reflects the humility described in Proverbs 22:4: “The reward for humility and fear of the Lord is riches and honor and life.” Honesty: Bobby's commitment to owning up to his debt is a reflection of the biblical principle of honesty. Exodus 20:16 and Colossians 3:9 teach us the importance of living truthfully, especially as followers of Christ. Repaying Debts: The Bible emphasizes the importance of repaying our debts. Psalm 37:21 says, “The wicked borrows but does not pay back, but the righteous is generous and gives.” Bobby's desire to pay off his debt is a step toward fulfilling this principle. Stewardship: The most significant principle guiding Bobby now is stewardship. He wants to manage his finances faithfully, in line with 1 Corinthians 4:2: “It is required of stewards that they be found faithful.”We were grateful to help Bobby on his journey to faithful stewardship, and we want to extend that same help to you. If you're struggling with your finances, need help creating a budget, or want to develop a plan to pay down debt and start saving, please don't hesitate to reach out to us. We're here to help you take the next step toward financial freedom and faithful stewardship.Bobby's story is a powerful reminder that with God's help, it's never too late to turn your life around and get back on track. If you're ready to take that step, we're here to walk alongside you.On Today's Program, Rob Answers Listener Questions:I'm a 60-year-old single retiree, and honestly, I feel financially illiterate. I have two annuity accounts, but I don't fully understand how they work. Should I stay in them or look at other options? I'd appreciate some guidance on how to manage my limited savings wisely.I'm single and trying to plan ahead to create passive income for my future family. I'm debating between buying a rental property and investing in the stock market. Which of these would be the smarter long-term move?My husband and I are retired and considering a reverse mortgage. What's the best way to approach this, and is there a type of reverse mortgage that will ensure we can stay in our home?I loaned money to my cousin, and they repaid me with an extra $300 in interest. Do I need to report that interest as taxable income on my tax return?Can you explain the difference between a Roth IRA and a traditional IRA? Additionally, can someone who is not employed by a company open a 401(k) account?Resources Mentioned:Faithful Steward: FaithFi's New Quarterly Magazine (Become a FaithFi Partner)Movement MortgageHome Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement by Harlan J. AccolaChristian Credit CounselorsWisdom Over Wealth: 12 Lessons from Ecclesiastes on MoneyLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

On episode 422 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss: why stock market returns can't be 15% per year forever, putting the Mag 7 into context, small caps are cheap, retail runs the show now, Opendoor is the new meme stock, investing is easy, owning 50% of a single stock in your Roth IRA, explaining Bitcoin, the Midwest real estate boom, losing your iPhone and more! This episode is sponsored by Vanguard and YCharts Learn more about Vanguard at: https://vgi.vg/3GbOsYM Click the link, https://go.ycharts.com/one-big-beautiful-bill-act?utm_source=Animal_Spirits&utm_medium=Original_Research&utm_campaign=OBBBA_Deck&utm_content=Podcast to download the deck for free, and get 20% off your initial YCharts Professional subscription when you start your free YCharts trial through Animal Spirits (new customers only) Sign up for The Compound newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Find complete show notes on our blogs: Ben Carlson's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠A Wealth of Common Sense⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Michael Batnick's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Irrelevant Investor⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Feel free to shoot us an email at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠animalspirits@thecompoundnews.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with any feedback, questions, recommendations, or ideas for future topics of conversation.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

What do your financial priorities look like when you're just getting started... or when you're sitting on $100 million? If you're still stuck trying to figure out how to max out your Roth IRA and also afford dinner, this episode's going to walk you through what might be coming next—without promising you a yacht by Tuesday. This week on The Stacking Benjamins Show, Joe Saul-Sehy, O.G., and Doc G (Jordan Grumet) are joined by Nick Maggiulli, Chief Operating Officer at Ritholtz Wealth Management and author of Of Dollars and Data, to talk about lessons from his new book: The Wealth Ladder. Nick breaks down the six wealth levels, from scraping together your first emergency fund to navigating the complexities of generational wealth. They explore: Why increasing your income early on trumps frugality (sorry, coupon clippers). What “wealth plateaus” really look like, and how to recognize when your strategy needs to evolve. The hidden trap of goal obsession, featuring a cameo from world #1 golfer Scottie Scheffler. The true cost of career choices, and why opportunity cost might be the silent killer of long-term growth. Why content and code are two of the most powerful wealth-building levers available (especially when they scale without needing a lunch break). Whether you're stuck in Level 1 or fantasizing about Level 6, this episode has practical, perspective-shifting advice on building wealth—and more importantly, how to enjoy the process without losing your sense of purpose along the way. Stackers don't just want to make money—they want to master it without letting it become their master. This conversation bridges income, investing, identity, and intention in a way that gives you both clarity and confidence. You might even stop worrying about skipping that $5 latte… or realize it's time to start coding that app you keep talking about at parties. FULL SHOW NOTES: https://stackingbenjamins.com/invest-differently-and-move-faster-1712 Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Jason focuses today on financial wisdom and the real estate market. He emphasizes the importance of taking action over endless information gathering for personal growth and financial success. Jason then shifts to housing appreciation rates over the past decade, highlighting how income property is a robust, tax-advantaged asset class focused on yield, not just price. He further explores the challenges faced by renters due to high rental costs and the scarcity of affordable housing, while also clarifying the investor's role in contributing to housing supply. Finally, he addresses the complexities of measuring housing inventory and promotes upcoming events and investment opportunities. Go to JasonHartman.com/Properties and start your investing journey! Reach out to your investment counselors today at 1-800-HARTMAN ext. 2. Jason then welcomes Adam Bergman, founder of IRA Financial, talks about the history and current state of self-directed IRAs, highlighting their potential for significant investment returns and explaining the differences between traditional and Roth IRAs. He covered the benefits and tax implications of using a self-directed IRA for investments, including strategies to avoid unrelated business income tax and the importance of diversification in Congress's perspective. The discussion concluded with Adam explaining the setup process for an LLC through IRA Financial, emphasizing the benefits of checkbook control and limited liability protection for real estate investments.   Key Takeaways: Jason's editorial 1:49 Clip of the Day: The Most "Conformist" Woman in the World 3:29 Get your dopamine from action 5:22 Home Price Appreciation 2014-2024 8:06 Hourly wage needed to afford rent 9:43 Number of minimum wage jobs needed to afford a 2 BR rent 13:19 Housing inventory: NAR vs. HousingWire 15:31 Join our FREE Masterclass every second Wednesday of each month! JasonHartman.com/Wednesday Adam Bergman interview 16:21 A brief history of SDIRA's 19:55 Sponsor: https://www.monetary-metals.com/Hartman/ 21:57 2 Benefits of why using an IRA is so important 23:04 Taxes in the IRA environment 28:32 Most important things to know 30:51 Next steps and what IRA Financial can do for you https://www.IRAFinancial.com     Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com    

Roger in Canton, Ohio, is burnt out. Can he and his wife Jane pre-retire next year in their mid-50s with $2.8 million? Joe and Big Al spitball on whether they'll still have enough money for their Go-Go years, Joe's favorite, today on Your Money, Your Wealth® podcast number 539. Roger also has an employee stock purchase plan. For the best asset location strategy, should he max out the ESPP at a 15% discount, convert to Roth IRA, build his brokerage account, or a little of all the above? Speaking of asset location, some of our YouTube viewers object to the idea of putting higher performing assets in your Roth account. They say you can't write off the losses and you'll be exposed to sequence of returns risk. Stick around for Joe and Al's response. Free financial resources & episode transcript: https://bit.ly/ymyw-539  DOWNLOAD Why Asset Location Matters for Free CALCULATE Your Free Financial Blueprint WATCH Recipe for Retirement | Retirement Plans Explained on YMYW TV ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment LEAVE YOUR HONEST RATINGS AND REVIEWS on Apple Podcasts SUBSCRIBE or FOLLOW on your favorite podcast app JOIN THE CONVERSATION on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 02:03 - I'm Burned Out. Can I Pre-Retire Next Year? (Roger & Jane, Canton, OH) 11:46 - Watch Recipe for Retirement | Retirement Plans Explained on YMYW TV and Calculate Your Free Financial Blueprint 12:50 - Would You Rather for Asset Location: Roth vs. Brokerage? Roth vs. ESPP with 15% Discount? (Roger & Jane, Canton, OH, cont'd) 21:08 - Higher Performing Assets in Roth Exposes You To Sequence of Returns Risk and You Can't Write Off  The Losses (YouTube comment) 24:54 - Next Week on the YMYYW Podcast 25:27 - Download Why Asset Location Matters for Free

In this part 2 of his conversation with Kiera, Morgan Hamon, co-founder and president of EAG Dental Advisors, talks about the action items doctors must commit to to stay financially savvy. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: Kiera Dent (00:01) Hello, Dental A Team listeners, this is Kiera, and this is part two with me and Morgan Hamon as part of EAG Dentist Advisors, where we're actually gonna talk into the tax psychology and the tax strategies and the tax tips. And I really just feel like this episode is so powerful. And as always, thanks for listening, and I'll catch you next time on the Dental A Team Podcast.   Morgan Hamon (00:22) But no, you got to do the stuff. So if your accountant tells you, look, take a board meeting, document it properly, there's a proper way to do it, you got to do it. That's how we say the proper legal avoidance. your account comes to you and says, look, it's time to be an S-Corp,   Kiera Dent (00:30) Mm-hmm.   Morgan Hamon (00:39) because the profit is appropriate, you gotta follow the instruction. There's a procedure there and it's gonna save a lot of money on self-employment payroll tax if it's done correctly. You gotta listen, but you gotta engage. There's action items. And so we, ⁓ every September, I made a checklist. You know, again, Navy guy, right? I got a checklist. Log in, do the checklist. I call it our business tax savings maximizer. That's the flashiest, catchiest name I could think of. But like, log in and do it. That's the secret.   Kiera Dent (00:58) I love it.   you   Morgan Hamon (01:08) So, you know, for those listeners that waiting for the secret, that's it, right? We got to capture expenses as business deductions and there is action items for the doctor. It requires that engagement. And to circle back to where what you said earlier, like you can't come into the office and just fix it for them. They've got responsibilities on things to do too and that's the same with tax policy.   Kiera Dent (01:31) I thought that was such a beautiful way. And as you were going through the phases of grief, I'm like, oh yeah, I definitely lived all of those. And I think it does feel like a kick in the gut. like, this is worse than finding out like coal in your stocking Christmas morning. Like it's way worse. Like it feels awful. And you're in total denial that like, how is this even real? Like I live in America. Like, how is this real? I didn't know. And I mean, then you put on your state tax on there. And I'm like, for people who are in California,   Morgan Hamon (01:39) Mm-hmm.   Mm-hmm.   Mm-hmm.   Mm-hmm   Mm-hmm.   Kiera Dent (02:00) Like more than 50 % of your income could be going to tax pending upon your tax bracket. But I think Morgan is one of those things of also seeing, I know people don't want to hear, I'm going to be very unpopular right here and it's okay. It will like, you'll be in denial, you'll hate it. And then you'll be like, yeah, that's actually a really good point. Cause that's how I did it. Like taxes are a blessing though. Like we, we are so blessed to live in the country we are to be able to set the pricing that we want, to be able to do the work that we want to do that. like, I don't want to pay more taxes.   Morgan Hamon (02:12) you   Mm-hmm.   Kiera Dent (02:28) but I can see me paying taxes as like my opportunity to be here and to be a business owner. And I think that's an amazing thing that we do get to have access to. But like you said, shoot guys, this is where the discipline comes in. This is where the engagement comes in. This is where the ownership comes in. I remember where I should like, I'll send you a picture. My husband and made this like vision board together, cause every December I would cry over taxes. And one of my goals, literally has like, it's a sign that says tax expert ahead.   Morgan Hamon (02:33) Mm-hmm.   Mm-hmm.   Mm-hmm.   Kiera Dent (02:57) And I put that on my vision board because I'm I'm sick of this stupid stuff. I'm sick of Morgan telling me I owe this much money when I'm like, how is it even possible? I was like, I'm going to freaking figure this out. And I realized like, it's actually not that hard of a math equation. It's like, what is my profit that I get that month? What's my tax bracket? And let me go save that.   Morgan Hamon (03:00) Thank you.   Mm-hmm.   Kiera Dent (03:16) pay your quarterly tax payments. And then what I love is when, cause I put myself in the highest tax bracket, some years I'm going to be a little bit higher, some years I'm going be a little bit lower, like it's going to flush out. But if I'm saving my max amount that I would be having to pay in taxes every single month, I'm like, it's not that hard. Like you literally just take it, put it in a savings account, I put it in a high yield, so I'm even making money on it there. What's amazing is at the end of the year, I get my W2,   Morgan Hamon (03:32) Mm-hmm.   Kiera Dent (03:41) like refund, if you will, because we realize I have over-saved throughout the year. I also put in there like buckets, because I realized for me, Morgan, it wasn't just the tax that was hitting me. It was the SEP IRA that I had to pay. It was charitable contributions I was paying. It was end of year bonuses. And all of that, it's not taxes. I think you get hit with all of those at the end of the year. It's like you're trying to put these, then you've got your Roth IRA that you're trying to like put those in. And it's like all these things are money and it's all accumulating at one time.   Morgan Hamon (03:43) Mm-hmm.   Okay.   Kiera Dent (04:11) versus figuring out how much you really are gonna pay, breaking it down into buckets, saving for it, and then I love it. My money at the end of the year, whatever I don't pay in taxes, because yeah, it's a big number, whatever, you're just going to pay it. That's part of having an amazing, thriving business. But then my slush because I over-saved, that becomes my refund, that becomes Keira's money of like, sweet, what are we gonna do on this because I've already paid tax. Now I can take that.   Morgan Hamon (04:14) Mm-hmm.   Mm-hmm.   Mm-hmm.   Mm-hmm.   Kiera Dent (04:37) Now I can go buy the things I want to buy. can put it in retire. I can put it wherever I want it to go. ⁓ but I have it to our peace of mind. When I get my, like this year, my CPA can be like, wow, Kara, you like, you have this. And I was like, rock on. Like you're not stressed about it, but that takes discipline every month. I'm literally like, Hey, how much do we have put that profit over in our savings every quarter? You're making those quarterly payments. ⁓ it is being strategic. is like.   Morgan Hamon (04:52) Mm-hmm.   Mm-hmm.   Kiera Dent (05:06) You were on a call the other day with some of our doctors and like, so Kiera, how like there are you when you do your meetings at your house? And I'm like, I crossed my T's down my eyes. I don't like this game. Like I do Airbnb. I look at all my rental comps around me. I saved that every year. It's in a folder. All the things are in the calendar with me and the other people. I have an agenda. I send that over to my CPA. I just don't like to play in the game of gray. But I think those are the pieces that help you. And then you just maximize.   Morgan Hamon (05:16) Thank you.   Mm-hmm.   Kiera Dent (05:34) But Morgan, I don't know. think I've just learned that's also part of the success tax of being successful. Like this is what it is. And I think that being a business owner, the discipline of saving your money and not spending it all because we think like, should get this cause I'm a high earner. No, like there's still tax games that we play. There's different ways to minimize it. But realizing like I need to be disciplined here. I think if you can be disciplined there, it also stems to your team. It stems to your leadership. It stems to your physical health.   Morgan Hamon (05:39) It is.   Mm-hmm.   Mm-hmm.   Kiera Dent (06:04) It stems through   so many other areas in your life that I think like talk about a blessing of taxes that we actually get this benefit.   Morgan Hamon (06:07) Yes.   It,   I agree. And you do have to be, you do have to be disciplined. I know. I know. I also, I'll share a personal, I'll share a personal experience and kind of how I view tax because I very happily write those checks. You know, I write the same ones as our doctors do, but so back when I got out of the Navy, my family and I, so my parents, my brother and myself, we all chipped in and bought a real estate company.   Kiera Dent (06:13) Even though I hate it, Morgan, don't take me wrong. I still hate taxes. Morgan, tell me the secrets.   Morgan Hamon (06:36) back in 2005, real estate was happening. It was all in, all chips on the table. Well, guess what? 2009, everyone remember what happened in 2009? So, I mean, it was bad. It was horrific. 2009, my tax bill was zero. Zero. But do you think I was coming home saying, honey, look at this, zero, woohoo, check this out. I got no tax.   Kiera Dent (07:04) day.   Morgan Hamon (07:05) No, I'm sitting in a room and looking at the wall like how am going to face my kids telling them dad can't keep a roof over their head? How did my life get this screwed up? I paid no income tax, but those are not good times. That's not a period. And so right after that is when my dad and I started HD Accounting Group. But those days were like not my fondest memories even though I had zero tax liability. Fast forward a bunch of years, I've enjoyed a lot of success and I write some big checks to the government and I don't care.   My life is so much better. got kids college paid for, no debt. My life is good. And yeah, they are some big checks. I mean, let's face it, they're not my favorite things to write. Nobody likes it. But my life is just exponentially better. So when you're paying tax, you're making good money. I don't know, maybe boil it down to that.   Kiera Dent (07:55) I would agree with you.   which thank you for sharing because I think we, I agree. I don't want to have a year where I'm paying $0 to taxes. Cause that means that when you said zero and I'm like, we had a bad year. That's like a real bad year. Like as a business owner, you start to realize like that actually is not a good year. ⁓ But I think for that, ⁓ it's the discipline. And I found for me what's cut the stress out as an employer and as a business owner, not CPA, that's Morgan the world. That's not my world is when I have   Morgan Hamon (08:09) That's... ⁓   And now...   Kiera Dent (08:28) money and I'm disciplined and I save it because you still have profit afterwards. So it's not like you're not taking anything home every month. You're just being disciplined that that money for tax you save then I have the money and I'm like the pain I think comes from not having the money and the fear of where am I going to come up with the six figures when I've already spent it. I think that's more of why people hate taxes just like people hate root canals. They don't actually hate the root canal. They hate the pain leading up to it. We hate the pain of not having the money set aside.   Morgan Hamon (08:33) Mm-hmm.   Mm-hmm. Yeah.   Yes   Well.   Exactly. And let's tie this real specifically to the world you and I serve, our dentists. What really creates a lot of confusion and adds to the emotion is that, most of our clients have a practice note, a big one. And they don't always realize, look, when you make your loan payment, that is not a tax deduction, right?   Kiera Dent (09:22) not   just   Morgan Hamon (09:22) When you borrow the   money, we deduct everything you're going to buy, but then over time when you pay that back, you don't get it deducted again. So if your debt service on your practice loan is $100,000 a year, which we see often, you're paying income tax on it. So if you made $500,000 and $100,000 went back to the bank, you're living on $400,000 but paying tax on $500,000. And that is   That can be shocking and that's why you'll hear, and that applies to just both financial accounting and tax, that question of, my accountant said I made this much money. That can't possibly be the case. I just logged into the bank. What are they talking about? It's that debt service. That money's gone, but it's not a deduction. The other thing that makes it, any tax planning for dentist challenging is just the volatility in the month to month profit.   And I think there's a misperception out there, hey, look, my accountant is keeping my books up to date every month, right? And so if we get to the end of, let's say the end of September, and we can, hey, September 30, this is the exact profit, that does not equate to a granular, precise tax calculation because we have to, all your tax rate is dependent on total annual household income. If there's four months in the year that haven't happened yet, we gotta,   Kiera Dent (10:16) Amen.   Morgan Hamon (10:46) We got to estimate and it's subject to change. Maybe they were struggling in May and they said, you know, I'm calling Kiera, fine, I'm going to do it. We're going to get this thing figured out. And so then by November, they're killing it and everything's up 30%, 40%. Well, guess what's also going to be up? Your estimated payments are going to be higher, right? And so it's volatile.   and it's not an exact science. with any tax planning, those quarter estimated payments are trying to keep you in the hunt. And you alluded to that by having your buckets. Just realize there will be a settle up at the end of the year when it all fleshes out, because all we can do is estimate along the way. Try to keep it as close as we can. But I'm with you. I make those payments quarterly. I don't put my head in the sand because it'll just get bigger.   Kiera Dent (11:33) Well, I'm curious, Morgan, this is like Kara's nerdy side of me that I don't understand. So help me. And I hope this comes across respectful of the CPA world. To me, I feel like why don't CPAs at the end of every month, you know my profit, you know what I did that month. So yes, there's the estimated, but why not just give me like, the only thing I've thought of is maybe my tax bracket could change, but I'm like, why not estimate every month approximately what I need to save for taxes?   Morgan Hamon (11:43) Mm-hmm.   Mm-hmm. Mm-hmm.   Mm-hmm.   Mm-hmm.   Kiera Dent (12:03) So I can at least put that away monthly. Help me understand the psychology of that, because I don't.   Morgan Hamon (12:06) So, oh, trust me,   we've thought about this every which way. And I'm never done. I tweak our tax planning process every year. So to your point, like you could look at last year's tax return. So there's two figures to look at. There's your marginal tax rate, which is your whatever bracket, your highest, so the highest of 37.   But then there's what's called an effective, and that's just the average, right? If you look at total income and total tax, what's the average? So you could look at your last year's tax return and maybe your combined federal and state income tax was, call it 30%. So you could say, whatever my profit is times 0.3 is what I had to put away. So you could do that, but that's inherently going to be inaccurate.   because you will not have the same effective tax rate this year unless you have like a carbon copy and it'll be different. A lot of volatility. The other thing, it's a very equipment heavy industry as you know, and people do go buy equipment. And so if we, if say an accountant says, put whatever your profit is times 0.3, put that away, but then they get in and maybe they really do. Maybe their practice was... ⁓   Kiera Dent (13:20) Mm-hmm.   Morgan Hamon (13:31) you know, plum for eight ops, but they're equipped for five and it's time to fit those other three. Well, that's some really nice tax deductions there, like dollar for dollar. Well, that's really going to come down. And so that estimate's going to be out the window, like really quickly. You know, we've had times where I think of this story, something you don't tell stories. We had a client, this was a few years back, where they sent us an invoice. I can't remember what they bought.   Kiera Dent (13:38) and   Morgan Hamon (14:00) It was big, right? It was $120,000. They sent an invoice, not an email like I'm thinking about this. They sent an invoice. So we booked it. 120K deduction, did the tax plan, the works. Well, it comes time to do the tax return. And we're saying, hey, we keep asking for the loan paperwork on this claim. We don't get it. So finally, hey, look, we really want to get this tax return done. Can you send us that loan paperwork? And he's like, oh, I changed my mind.   I didn't buy that. And we're like, oh, let's put 120K of income back on top. You owe, I think it was like 40,000. And they're like, how can this be? I'm like, you sent us an invoice. Think how mad you'd be if we hadn't booked it. And I just tell that kind of story. Like equipment purchases in Q4, it's all out the window at that   Kiera Dent (14:37) Bye.   Yeah.   Yeah!   Mm-hmm. Mm-hmm.   Morgan Hamon (14:58) So   it's very volatile. So to kind of circle all way back to the beginning, just for some basic tax planning, I knew for me, like federal and effective, it's like 35%. And I just planned for that. And then there's a settle up. And if I owe a bit, it's because we killed it. And I need to actually celebrate that and not be cranky about it. And if I get some money back, maybe,   Kiera Dent (15:13) Mm-hmm.   you   Morgan Hamon (15:27) Maybe it just didn't end up as good as I thought or whatever. We're accountants. We don't have like, Xerox machines to write off. I got like a laptop. So, I mean, we're kind of limited on that. So, ⁓ those are some limitations inherent in tax planning for specific for the dental industry, the volatility and month-to-month profit and the high amount of equipment that's involved, which involves some instantaneous significant tax deductions.   Kiera Dent (15:32) Right.   and   Sure, no, that makes sense. And I think for me, it's always like, okay, there's profit, there's expenses. ⁓ If I'm gonna go use that money for expenses, then I'm going to take my tax amount. So obviously it's going to reduce my tax bill by that dollar amount. I can actually pull portions out of that money I've saved to pay for my equipment potentially if I need to. But just curious on that, because I've always, I'm like, it's a simple equation. Here's my profit. This is how much my tax bracket probably is. But also maybe you guys don't want them saving more than they need to because then people get angry.   Morgan Hamon (16:01) Mm-hmm.   Mm-hmm.   Mm-hmm.   The truth.   Yeah.   Well,   people, it can get emotional either way, right? If they get a big refund, they're like, wait a minute, I could have had this in my high yield savings account. So we really do try to keep it as close as we can given the constraints of this kind three-dimensional moving target. What I have told doctors in the past, if we think about, let's say they've got an S-Corp, so on a reasonable W2, we got some holding through that W2, but they should still be taking the majority of the money home via profit distribution, okay?   Kiera Dent (16:26) that   Exactly.   Morgan Hamon (16:53) Have a look at last year's tax return. If you don't know how to find it, let us know. Keep it simple. If it's 30 % or 20, it's 28 points, okay, round it to 30. What I think every business owner should do, okay, at the end of the month or quarter, however often you want to do it, you look at how much money has accumulated in the operating account, what is my chosen desired minimum cash reserve, and whatever has accumulated, distribute it.   Kiera Dent (17:06) Mm-hmm.   Mm-hmm.   Morgan Hamon (17:24) And take, let's say there's $20,000 extra in there, right? And let's just say your effective rate's a third of that. Well, take six or 7,000 and just put it in, like you said, Kiera, your savings bucket. And then save that so then when your accountant says, hey, it's time for your Q3 payment, you tap that money. And I think that's just a simple thing that...   Kiera Dent (17:42) Mm-hmm.   Morgan Hamon (17:53) habit you could get into, for me personally in our business, we always did that quarterly. And we'd take a distribution quarterly and I would just lop off the top, put it away and treat it like I had never had this and I would send it right off to the government. And that way I wasn't playing catch up so much. In the accounting world, I don't quite have the volatility that dentists have, but it's still, that habit pattern. It's that discipline of doing it.   Kiera Dent (18:20) Mm-hmm. Mm-hmm.   Yeah. No, that's super helpful. And Morgan, this is why I love to talk about it. Because it's like, hey, how can I refine? As we were talking about on that leadership, how can I refine? How can I make this just a little bit better? How can I learn a little bit more of the nuggets? How can I be smarter on my prep work for me emotionally? Because some people are just fine. They'll just like, I have a million buckets. I love my buckets. I love to know what this money is saved for.   Morgan Hamon (18:42) Hehehe.   Kiera Dent (18:45) My financial advisor teases me, my CPA teases me. I'm okay with it because I'm like, sweet, I know how much money I've got here. I know what I can buy here. My husband loves like just one big fund. And I'm like, but then how do know how much I can spend? Like I don't want to overspend or underspend. So everyone's different. So things are just going through it. Things are the psychology of it, the tax planning pieces, how the leadership and profitability connect to each other. Morgan, you guys are such an incredible CPA firm. I love that you're specifically only dentists. I tried to have you guys work with me you said, no, I'm not a dentist. So   Morgan Hamon (18:51) Mm-hmm.   You   huh.   Kiera Dent (19:14) I love that you are so niche. It was great, I loved it. But if people are curious, how do they work with you? What are kind of the broad services that people could see working with you guys that you guys do and how they can connect with you?   Morgan Hamon (19:24) So   our mission has always been and will continue to be supporting doctors by providing them the monthly accounting for their practice, providing practice profitability analysis reports and specific advising and tax planning ⁓ just for doctors. ⁓ If you want to check us out, is EAGDentalAdvisors.com is our website.   ⁓ Or just email me reach out to me Morgan.Hamon@EisnerAmper.com My business partner Cortney and I we do all initial consultations personally It's always been that way I love to meet new doctors learn about their situation tell them about what we do See if you see if it could be a good fit, but that's how folks would could go out and find us   Kiera Dent (20:09) Well guys, we have a lot of clients that work with Morgan. I think he's incredible. I love what you guys are doing. Morgan, it was always a fun time. Thanks for kicking it off with Top Gun, ending with like tack strategy. Thanks for sharing some of the tips. But truly super honored to work with you and love what you guys are doing for dentists out there.   Morgan Hamon (20:19) Alright.   Kiera,   I always enjoy our visits and look forward to each one. So I appreciate you having me. I really enjoyed it.   Kiera Dent (20:31) course. And for all of you listening, thank you for listening and I'll catch you next time on The Dental A Team podcast.

Brad and Rachael Camp tackle listener-submitted questions focusing on bonds, retirement strategies, pensions, and optimizing Roth IRA conversions. Rachael Camp, a Certified Financial Planner, sheds light on various financial independence (FI) strategies—discussing the impact of interest rate volatility on bond investments, the importance of tax planning during retirement, and navigating unexpected inheritances. Timestamps and Key Topics 00:01:10 - Introduction to Bonds 00:03:15 - Bonds vs. Bond Funds 00:24:07 - Pension Strategies 00:27:29 - Roth IRA Conversions 00:45:11 - Handling Inheritance and Taxes Key Insights Understanding Bond Dynamics: Timestamp: 00:04:10: Understanding the inverse relationship between bond prices and interest rates is crucial. Timestamp: 00:16:30: Review your bond strategy annually to assess risks associated with interest rate changes. Bond Funds vs Individual Bonds: Timestamp: 00:21:24: For long-term strategies, individual bonds and bond funds often perform similarly. If you consistently reinvest mature bonds, you effectively manage the same risk as a bond fund. Pension Ramifications: Timestamp: 00:25:53: Use your pension wisely to enhance your tax strategy! Roth IRA Conversion Strategy: Timestamp: 00:34:10: Maximize your savings with strategic Roth conversions, particularly before pension income starts. Inheritance Implications: Timestamp: 00:46:21: Evaluate the impact of any inheritance on your overall tax strategy carefully. Actionable Takeaways Regularly assess your bond exposure and adjust according to market conditions. Prioritize Roth conversions during income gaps in your retirement timeline to leverage low tax brackets. Plan your inheritance withdrawals strategically over the 10-year required period to mitigate tax impacts. Frequently Asked Questions What is the difference between bond funds and individual bonds? Bond funds are collections of bonds that continue to reinvest, while individual bonds are purchased with a fixed interest rate and maturity. This influences cash flow needs and risk tolerance. Timestamp: 00:10:40 How do Roth conversions affect my tax bracket? Roth conversions can fill your tax bracket before pensions begin to reduce available space, maximizing tax efficiency of your retirement income. Timestamp: 00:34:10

Today we are taking with a newly graduated med student who made it through school debt free. She worked four different jobs and ended up joining the National Guard to help cover costs. She worked hard to save up enough to pay cash for her first year of school before joining the military to cover the last 3 years. After the interview we are talking about the pennies issue with the backdoor Roth IRA. This podcast is sponsored by Bob Bhayani at Protuity. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://whitecoatinvestor.com/protuity today, by email info@protuity.com or by calling (973) 771-9100. The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you! Have you achieved a Milestone? You can be on the Milestones to Millionaire Podcast too! Apply here: https://whitecoatinvestor.com/milestones  Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com  Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube  Student Loan Advice for all your student loan needs: https://studentloanadvice.com  Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor  Join the community on Twitter: https://twitter.com/WCInvestor  Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor  Join the community on Reddit: https://www.reddit.com/r/whitecoatinvestor  Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com  Sign up for our Newsletter here: https://www.whitecoatinvestor.com/free-monthly-newsletter 

Apply for Farnoosh's 4-month mentorship program at FarnooshBTS.comHow much do you need in net worth to feel wealthy? This week's Ask Farnoosh covers recent money headlines about wealth. student loans and social security. And audience questions related to windfalls, investing and debt management.

Mark Twain said dance like nobody is watching; Andy very proud of his loud clap; super villain's leverage with loved ones; dream of being brain surgeon or in NBA draft; good Roth IRA advice on the playground; snake venom improving motor skills. Unlock the BONUS SCENE(S) at improv4humans.com and gain access to every episode of i4h, all ad-free, as well as TONS of exclusive new podcasts delving deeper into improv, the history of comedy, music and sci-fi.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.