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Retirement Planning

Finding the Future Value of an Annuity on a TI 83 84 HD [Video]

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Finding the Future Value of an Annuity on a TI 83 84 HD

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Retirement Planning

How to Pay the Tax on a Roth Conversion - Your Money, Your Wealth® podcast 349 [Video]

Today on Your Money, Your Wealth® podcast 349 with Joe Anderson, CFP® and Big Al Clopine, CPA, learn the basics of Roth IRA conversions, how to calculate tax on your Roth conversion tax, and when you need to pay the tax, and more. Plus, ideas for what to do with unused 529 plan education savings, rules for 401(a) accounts, explaining the alternative minimum tax, the latest tax proposals, calculating employer solo 401(k) contributions - and that’s just the tip of the iceberg. Visit the podcast how notes for free financial resources and to Ask Joe & Al your money questions: https://bizlink.to/ymyw-34900:00 - Intro00:56 - Calculating Paying Roth Conversion Tax (Liza, San Diego)10:32 - Paying Roth IRA Conversion Taxes (Tammy)12:19 - Schedule a Free Financial Assessment: https://purefinancial.com/lp/free-assessment/?utm_source=youtube.com&utm_medium=podcast&utm_campaign=YMYW13:10 - Backdoor Roth IRA Basis & Paying the Tax on a Roth Conversion (D, Irvine)22:51 - Roth 401(k) Contribution Strategy (Jennifer, Philadelphia, PA)32:02 - What Should I Do With Left Over 529 Money? (podcast survey)34:05 - Are There Special Rules for 401(a) Plans? (podcast survey)37:03 - Can You Have Too Much Money in Ally Bank-Like Accounts? (podcast survey)38:20 - How Should I Calculate Employer Solo 401(k) Contributions When Income Varies? (podcast survey)39:43 - Could Big Al Please Explain Alternative Minimum Tax (AMT)? (podcast survey)41:19 - Any Tax Law Changes That Impact Retirement Income Strategies and Estate Plans? (podcast survey)42:45 - Cryptocurrency Taxation: Treat Like Additional Income or Not Include It at All? (podcast survey)44:48 - Does Income From Investments Affect My Tax Bracket for Roth Conversion Purposes? (podcast survey)Schedule a free assessment with any one of our professionals, either online or at one of our financial planning offices in San Diego, Brea, Irvine, and Woodland Hills, California: http://bit.ly/PureAssessmentSubscribe to our YouTube channel and stay tuned for the next episode of the Your Money, Your Wealth® TV show: http://bit.ly/YMYW-YouTubeSubscribe to the YourMoney, Your Wealth® podcast: https://link.chtbl.com/ymyw?sid=yIMPORTANT DISCLOSURES:• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.CFP® - The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation. AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.#RothConversion #RothIRAConversion #RetirementPlanning

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Retirement Planning

The IRS Wants Access to Your Bank (Bidens Sinister Plan). Mr. Biden along with the IRS have proposed a new plan for fiscal year 2022.....and that's to get banks to give you information about YOUR bank account information on transactions of $600 and over. In this video we will cover exactly what the government is proposing to make sure they get their tax revenue from your private account and have no transaction under $600 go without getting their "cut". This is also a COMPLETE violation of our 4th amendment rights! 0:00 Intro 0:40 What Biden has proposed 2:40 The counter argument 5:35 The second thing that Biden wants 9:09 Daniel's big picture question 11:45 Final thoughts Government Fiscal Policy FY2022: https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf Thanks for Subscribing & Liking our Video! Get Our 1:1 Real Estate Investing Coaching and Mentoring: https://thekwakbrothers.com/rcm-coaching-details/ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com Pay Off Your Mortgage In 5-7 Years (On Average): https://www.youtube.com/watch?v=eGVn9iq1e6c Get Our FREE Book "Break Free From Your Mortgage" https://acceleratedbanking.com/book Get Our FREE Book "0 To 75 Units in 1 Year" https://0to75units.com JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS: https://www.facebook.com/groups/bestreigroup Are you a Business Owner? Start Accepting Credit Card Payments with Lower Fees: http://emap.easypaydirect.com/go/signup/vf8d3N ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak and Daniel Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold The Kwak Brothers and its brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.

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Retirement Planning

Roth conversions, HSAs, pension choices, risk management: these are the topics of today’s listener questions. Susan, Gina, IM, and Daniel all submitted their questions to me via RogerWhitney.com/AskRoger  and you can too! If you have any retirement questions, or even if you simply want to leave a comment about the show, click on the link to present your question. Whether you are looking to learn more about HSAs, Roth conversions, or evaluate your pension choices, listening to other listeners’ questions can help you learn how to frame your own questions and consider your options by always keeping your goals in mind.How to evaluate the best way to take a pension? Susan recently asked her financial advisor how she should take her pension and wasn’t satisfied with his answer. There are several options to choose from when deciding how to take a pension. One choice is to take the pension for a larger monthly sum for the duration of the pensioner’s life. Another option is to take a smaller amount over the course of the lives of both the pension holder and their spouse. A third option is to opt for a lump sum payment and forgo the monthly payments altogether.When making this decision there are a few ways to evaluate your choices. Create a what-if scenario to help you compare all the options. Then evaluate them next to your retirement plan of record. Listen in to hear how I perform this exercise with my clients. HSAs after age 65 HSAs are amazing tools that can help you reach your retirement goals. Gina’s question is about HSAs after age 65. She is still employed and plans to continue working for a few more years. She would like to continue to stay enrolled in her high deductible insurance plan so that she can continue to contribute to her HSA, but she isn’t sure how that would affect her Medicare choices. This is a great idea but navigating these waters is tricky since the rules surrounding Medicare are so complicated. Making a mistake could lead to a gap in coverage or even a lifetime penalty on parts B and D premiums. You’ll first want to check the rules surrounding your Medicare eligibility with your employee health insurance provider. Next, you should contact a Medicare navigator like Boomer Benefits . Should IM roll over her 401K to a Roth if she is worried about financial protections? IM writes in with a question about rolling over a 401K to a Roth IRA. She is worried about losing ERISA coverage when transitioning this money. ERISA stands for the Employee Retirement Security Income Act which was put in place to protect workers’ retirement plans. 401Ks are covered under this federal law; however, the protections for IRAs vary wildly from state to state. The first thing to do when considering this question is to check on the rules governing Roth IRA protections in your state. Next, you’ll want to evaluate your personal financial risk and how important this kind of coverage is to you. Make sure to scroll down to the bottom of the show notes to check out all the links to the resources mentioned in this episode.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN LISTENER QUESTIONS • [4:41] Which pension choice best suits Susan’s needs?• [13:40] A question about HSAs after age 65• [17:23] Do the risks associated with Roth IRAs outweigh the benefits?• [22:12] Daniel has a few Roth conversion questions• [30:22] Daniel has a few HSA questionsResources Mentioned In This Episode YouTube episode with Andy Panko on retirement tax bombs Boomer Benefits BOOK - Retirement Planning Guidebook  by Wade PfauInterview with Wade Pfau The Retirement and IRA Show NeuYear.net Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement   by Roger WhitneyWork with Roger Roger’s Retirement Learning Center