Today on Your Money, Your Wealth® podcast 339 with Joe Anderson, CFP® and Big Al Clopine, CPA, moving money from tax-deferred retirement accounts to accounts with lifetime tax-free investment growth: should you do Roth IRA conversions? Should we do Roth conversions before we get married? Should we do a 403(b) to Roth conversion? When and how much should we convert to Roth if we want to keep our ACA subsidy? Should we do Roth conversions with more aggressive funds first? If we use our cash to pay the tax on Roth conversions, will we run out of money for our early retirement? And to cap it off, something completely different: can you sell without selling your house? What do the fellas think of Ric Edelman’s answer to the question, “should you pay off your mortgage?” Podcast survey, transcript, free financial resources, Ask Joe & Big Al On Air: https://bizlink.to/ymyw-339
00:00 – Intro & YMYW podcast survey: https://www.surveymonkey.com/r/YMYWPodcastSurvey2021
01:24 – Should We Do Roth IRA Conversions? (Dom, Columbus, OH)
07:35 – Should We Convert from 403(b) to Roth to the Top of the 12% Bracket? (Chris, Ft. Lauderdale, FL)
09:48 – Should We Do Roth Conversions Before Marriage? (Steve)
13:32 – Free Financial Assessment – schedule now: https://purefinancial.com/lp/free-assessment/?utm_source=purefinancial.com&utm_medium=PodcastShownotes&utm_campaign=YMYW
14:25 – When Should We Convert to Roth? We Want to Keep Our ACA Subsidy (Dave, Iowa)
23:55 – Should More Aggressive Funds Be Converted to Roth First? (Craig, Seattle)
32:43 – Ultimate Guide to Roth IRAs – download for free: https://purefinancial.com/white-papers/roth-ira-white-paper/?utm_source=purefinancial.com&utm_medium=PodcastShownotes&utm_campaign=YMYW
33:25 – Will We Run Out of Cash for Early Retirement If We Pay Roth Conversion Taxes? (Gloria Not My Real Name, San Antonio, TX)
41:15 – Sell Without Selling? Thoughts on Ric Edelman’s Answer to “Should You Pay Off Your Mortgage?” (April, Tinley Park, IL)
Ask Joe & Big Al On Air: https://purefinancial.com/ymyw/ask-joe-and-al/?utm_source=purefinancial.com&utm_medium=PodcastShownotes&utm_campaign=YMYW
Schedule a free assessment with any one of our CFP® professionals, either online or at one of our financial planning offices: http://bit.ly/PureAssessment
Subscribe for the next episode of the Your Money, Your Wealth® TV show: http://bit.ly/YMYW-YouTube
Subscribe to the YourMoney, Your Wealth® podcast: https://link.chtbl.com/ymyw?sid=y
• 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.