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Episodes by Topic: Roth IRA
IRA Rules: Why They Matter, Part 2
Mike discusses more questions surrounding IRAs including:
- When should you consider moving from a traditional to a ROTH IRA?
- What are some advantages of keeping things in a traditional IRA?
- What about conversion assets?
- What are the tax rules for a ROTH?
- What are the earnings rules?
- What is the five year rule and how does it affect my planning?
- What are some beneficiary considerations I should be thinking about?
IRA Rules: Why They Matter, Part 1
Mike answers questions about IRA rules, including:
- What are your plans in case something happens to you?
- What are the different kinds of IRAs and what are their different contribution limits?
- What about a non-deductible IRA?
- What kind of contributions should you be making?
- What is the back door ROTH IRA?
- How does your tax bracket affect your planning decisions?
- My tax software will figure everything out for me, right?
- To ROTH or not to ROTH?
Current Events and The Market
Do you think more money will solve all your problems? Mike looks at an example from the life of Bill Gross, debunking this myth.
What is going on with inflation and all the spending the government is doing?
Was the recent plunge in the market just an extreme overreaction to the Delta variant?
Mike looks at a recent article that analyzes the current state of the economy, considering:
- Crude Oil Prices
- Lumber Prices
- Real Estate Market
- Unemployment
A listener asked a question about considering a Roth Conversion. Mike explained some of the tax considerations a person would want to think about prior to making that conversion.
He also looks at a two-part blog by Gary Alexander entitled Seven Life Lessons for Building Wealth.
Many of these items have been covered on past episodes of this show as well!
- Seek Lifelong Education
- Be a Contrarian Investor
- Invest in Yourself
- Learn from History to Be an Optimist
- Build Winning Partnerships
- Don’t Try to Time the Market
The Emotions of Retirement, Part 2
Mike continues his discussion of a recent Wall Street Journal Article asking if you are emotionally ready for retirement. Some more questions to ask yourself:
- Would I like to go part time or should I just quit “cold turkey”?
- Do I have things to fill my time like hobbies or volunteering?
- Do I have friends that aren’t connected to my job or to my partner?
- What role is my partner playing in this decision?
- Do my partner and I have similar ideas about traveling in retirement or where we are going to live?
He also answers some listener questions:
- When my annuity reaches its surrender period, should I renew or transfer to an IRA?
- Would you bypass a 401(k) and go straight to a Roth IRA?
The Emotions of Retirement, Part 1
Are you emotionally ready for retirement? Mike looks at a recent Wall Street Journal article that proposes 8 questions you need to ask yourself. In this episode, he looks at the first three:
- On Sunday evening, how do you feel about work on Monday? Do you feel dread or anticipation?
- Have you thought carefully about your financial picture? Are you financially independent?
- What do my already retired friends and family think about retirement?
He also answers listener questions and issues:
- How to tell if that email or text telling you your account needs attention is legitimate or if it is someone else trying to scam you.
- With the potential of rising tax rates, should I convert all my retirement accounts to Roth accounts?
- What are my options for giving through a fixed annuity? Can I use a Qualified Charitable Distribution?
- What are some ways to donate assets to a non-profit?
Taxing IRA Distributions
How are distributions from IRAs taxed? When you’re over 70 ½, is it better to use a Qualified Charitable Distribution when making a gift, or to give appreciated assets?
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