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Is Your Roth Conversion Timing All Wrong? (Financial Blunders) - 550

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Manage episode 511860279 series 1375495
Content provided by Your Money, Your Wealth, Joe Anderson, Alan Clopine, and CPA of Pure Financial Advisors. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Your Money, Your Wealth, Joe Anderson, Alan Clopine, and CPA of Pure Financial Advisors or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Joe and Big Al spitball on how to avoid screwing up the timing of your Roth conversions, today on Your Money, Your Wealth® podcast number 550. Barrie from New York is 62 and single, and she's been diligently converting pre-tax money each year for lifetime tax-free Roth growth. Should she continue after she retires next year? "Jerry and Elaine" want to retire in the next six years and still leave the kids an inheritance. When should they start Roth conversions? Alex in Pennsylvania is a 31-year-old software engineer. Should he convert his IRA to Roth all at once? Plus, how can he transition into a career as a financial planner? A clarification on the age plus 20 rule of thumb for retirement contributions from one of our YouTube viewers is very un-clarified for Joe, and the fellas let Lisa in San Diego know whether she can use her rental real estate income to fund a Roth 401(k).

Free Financial Resources in This Episode:

https://bit.ly/ymyw-550 (full show notes & episode transcript)

Ultimate Guide to Roth IRAs

6 Signs You Truly Have "Enough" for Retirement - YMYW TV

Financial Blueprint (self-guided)

Financial Assessment (Meet with an experienced professional)

REQUEST your Retirement Spitball Analysis

DOWNLOAD more free guides

READ financial blogs

WATCH educational videos

SUBSCRIBE to the YMYW Newsletter

Connect With Us:

YouTube: Subscribe and join the conversation in the comments

Podcast apps: subscribe or follow YMYW in your favorite

Apple Podcasts: leave your honest reviews and ratings

Chapters:

00:00:00 - Intro: This Week on the YMYW Podcast

00:00:55 - Should I Keep Converting $20K a Year in Retirement? (Barrie, NY)

00:07:17 - Can We Retire at 62 and Still Leave an Inheritance? Roth Conversion Strategies for Big Accounts (Jerry & Elaine, KS)

00:17:05 - I'm 31. Should I Convert $57K Now or Spread It Out? (Alex, PA)

00:29:12 - Roth Conversion Timing Before Retirement (Mike, Philly Suburbs)

00:36:49 - Confused About Roth Withdrawal Rules at 60 (Lisa, Omaha NE)

00:40:05 - Clarification on the Age + 20 Rule of Thumb for Contributions (Matt, YouTube)

00:45:40 - Can Rental Property Income Fund a Roth 401(k)? (Lisa, San Diego)

00:47:24 - Outro: Next Week on the YMYW Podcast

  continue reading

556 episodes

Artwork
iconShare
 
Manage episode 511860279 series 1375495
Content provided by Your Money, Your Wealth, Joe Anderson, Alan Clopine, and CPA of Pure Financial Advisors. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Your Money, Your Wealth, Joe Anderson, Alan Clopine, and CPA of Pure Financial Advisors or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Joe and Big Al spitball on how to avoid screwing up the timing of your Roth conversions, today on Your Money, Your Wealth® podcast number 550. Barrie from New York is 62 and single, and she's been diligently converting pre-tax money each year for lifetime tax-free Roth growth. Should she continue after she retires next year? "Jerry and Elaine" want to retire in the next six years and still leave the kids an inheritance. When should they start Roth conversions? Alex in Pennsylvania is a 31-year-old software engineer. Should he convert his IRA to Roth all at once? Plus, how can he transition into a career as a financial planner? A clarification on the age plus 20 rule of thumb for retirement contributions from one of our YouTube viewers is very un-clarified for Joe, and the fellas let Lisa in San Diego know whether she can use her rental real estate income to fund a Roth 401(k).

Free Financial Resources in This Episode:

https://bit.ly/ymyw-550 (full show notes & episode transcript)

Ultimate Guide to Roth IRAs

6 Signs You Truly Have "Enough" for Retirement - YMYW TV

Financial Blueprint (self-guided)

Financial Assessment (Meet with an experienced professional)

REQUEST your Retirement Spitball Analysis

DOWNLOAD more free guides

READ financial blogs

WATCH educational videos

SUBSCRIBE to the YMYW Newsletter

Connect With Us:

YouTube: Subscribe and join the conversation in the comments

Podcast apps: subscribe or follow YMYW in your favorite

Apple Podcasts: leave your honest reviews and ratings

Chapters:

00:00:00 - Intro: This Week on the YMYW Podcast

00:00:55 - Should I Keep Converting $20K a Year in Retirement? (Barrie, NY)

00:07:17 - Can We Retire at 62 and Still Leave an Inheritance? Roth Conversion Strategies for Big Accounts (Jerry & Elaine, KS)

00:17:05 - I'm 31. Should I Convert $57K Now or Spread It Out? (Alex, PA)

00:29:12 - Roth Conversion Timing Before Retirement (Mike, Philly Suburbs)

00:36:49 - Confused About Roth Withdrawal Rules at 60 (Lisa, Omaha NE)

00:40:05 - Clarification on the Age + 20 Rule of Thumb for Contributions (Matt, YouTube)

00:45:40 - Can Rental Property Income Fund a Roth 401(k)? (Lisa, San Diego)

00:47:24 - Outro: Next Week on the YMYW Podcast

  continue reading

556 episodes

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