A Roth account is a type of individual retirement account (IRA) that is funded with after-tax dollars. This means that the money you contribute to a Roth account has already been taxed and you will not receive a tax deduction for your contributions. However, the money you contribute to a Roth account grows tax-free and you can withdraw your contributions and any earnings on them tax-free in retirement.
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This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, c...
I am thinking of rolling my 401K which has a mix of mostly Roth and the company match in pre-tax into my existing Rollover IRA and Roth IRA. It seems like it will be simpler to manage and I will be ab...
Florida is the future retirement home. I’ve called Florida home for almost 50 years. I travel extensively for work and met BF six years ago. BF, future husband, lives in AZ. Plan is to sell both our r...
I retired from full time work with a pension that pays most of my expenses, including healthcare. I also have some part time work. If I have extra money at the end of the year from this work, should I...
What is the down-side, if any of having all your retirement accounts in one place, like Fidelity or Vanguard? I have a few rollover 401ks, a Roth and a traditional IRA scattered about. I'm thinking in...
Financial Assessment (Meet with an experienced professional): https://bit.ly/PureFreeAssessment 11 rapid-fire spitballs today from Joe Anderson, CFP®, and Big Al Clopine, CPA, on Your Money, Your Weal...
Many retirees are surprised to learn that Medicare isn't always a fixed cost. If your income exceeds certain thresholds, Medicare can charge significantly higher premiums through a little-known rule c...
This week, a simple quote about wasting time sparks a deeper conversation about why retirement isn't meant to be endlessly optimized. In the Retirement Toolbox, we compare mutual funds and ETFs, explo...
Schedule a free financial assessment with an experienced professional at Pure Financial Advsiors: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=fre...
Your spouse and children could be bumped into higher tax brackets if you leave them a substantial sum in an IRA. Partial Roth conversions now can help.
Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms. Contact Devin's team at https://carrolladvisory.co/podcast1 C...
Any thoughts or advice would be appreciated. I'm 59½ years old. I've worked and saved for decades and am fortunate to be in a very strong financial position. My total portfolio is about $2.6 million, ...
When it comes to retirement savings, Roth IRAs are among the most powerful tools for achieving tax diversification and financial flexibility. Knowing how and when to tap into your Roth IRA can make a ...
Financial Assessment (Meet with an experienced professional): https://bit.ly/PureAssessment Free Financial Resources in This Episode: https://bit.ly/ymyw-585 (full show notes & episode transcript) Tod...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/PureFreeAssessment Heidi from the Space Coast of Florida found a money-saving tidbit in a past episode that comple...
Sometimes people get so excited about Roth accounts that they take it too far. Remember, tax-deferred accounts also have tons of advantages. The post Great Reasons to Have a Tax-Deferred Account appea...
Answering listener questions about Roth vs. traditional contributions, brokerage accounts for businesses, and balancing investing with paying for medical school. The post Choosing the Right Investment...
George and Weezy in the land of Lincoln will have deferred compensation and wonder if they can retire in mid-2026, or even earlier. Will they have enough? Should Jenn in Ohio move with work, take a br...
The established wisdom is never to touch your Roth IRA, but if it contains a large sum and you have a pension, too, here's when you should tap into it first.
When you're standing at a major financial crossroads, the timing of your decisions can mean the difference between success and failure. Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "when...
John Q. Taxpayer is in the home stretch of his career, looking for the best way to catch-up and build his tax-free bucket. Meanwhile, a pair of young financial nerds in Omaha are already strong savers...
Should Al and Peggy in Illinois keep hammering pre-tax retirement savings or should they pivot to post-tax Roth for better tax diversification? Which pension option is best for their early retirement ...
"Mr and Mrs Smith" have nearly $850,000 saved at age 43, but they're very concerned about retirement. "Lucy and Desi" are 58 and 64 with nearly $7 million saved, but they still lie awake wondering if ...
Lucky Lou is 48, burned out and wants to punch at 50. How should he bridge the gap before pensions and Social Security? Joe Anderson, CFP®, and Big Al Clopine, CPA walk through the Rule of 55, 72(t)s,...
Financially speaking, should Old Bear in Northern Kentucky marry his Honey? How should Sebastian in Virginia navigate the financial aspects of his separation? Plus, Famous Missourians want to know, ho...
Today on Your Money, Your Wealth® podcast 560, Joe Anderson, CFP® and Big Al Clopine, CPA spitball business development company (BDC) funds for Edward in Illinois before diving into buckets of cash, T...
Today on Your Money, Your Wealth® podcast 559 with Joe Anderson, CFP®, and Big Al Clopine, CPA, David wants to know if he and his wife (ages 47 and 53) are actually on track for retirement - without r...
McDreamy Dempsey wants to know if converting to Roth in the 37% tax bracket ever makes sense, and Gary in La Crosse warns Joe Anderson, CFP® and Big Al Clopine, CPA about Roth conversion "lag" and whe...
Joe Anderson, CFP® and Big Al Clopine, CPA are defusing some confusing tax time bombs today on Your Money, Your Wealth® podcast number 557. George in Torrance wants to know the smartest way to deal wi...
Joe Anderson, CFP® and Big Al Clopine, CPA spitball Roth conversions, capital gains, and retirement readiness from every angle, today on Your Money, Your Wealth® podcast number 556. Joe Momma from Vir...
I am 73 years old and have to withdraw the required RMD from my mutual fund IRA which is a fairly substantial amount. Can I hire a Certified Financial Planner to handle my RMD (i.e., Roth IRA, etc.) a...
Most people assume retirement taxes are based on how much they withdraw. The real problem is what the IRS eventually forces them to withdraw. In this episode, James walks through what taxes can actual...
I am 73 years old and have to withdraw the required RMD from my mutual fund IRA which is a fairly substantial amount. Can I hire a Certified Financial Planner to handle my RMD (i.e., Roth IRA, etc.) a...
I've know that RMDs can create a bigger tax burden when they start. We have a traditional IRA. I (67) am already taking SS, my husband (69) will be taking it a year from now, and since we'd consider i...
In this week's Ask the Editor Q&A, Joy Taylor answers questions on Roth IRAs and the five-year rule, including contributions and conversions.
A law requires the rollover money to have been in the 529 for at least 15 years. But it isn’t clear what happens if you change the account’s beneficiary.
Lower tax brackets and a bonus senior deduction may make 2026 a good year for a Roth conversion.
Sometimes a Roth conversion isn't right for you — or at least not right now. A financial adviser explains what you should consider before getting involved.
Switching from saving to withdrawing has been harder than we expected. We finally hit our number and retired, but now I’m unsure what kind of monthly or yearly reviews I should be doing. We’re already...
Most physicians spend their peak earning years maxing out pre-tax retirement accounts, reducing taxable income, and deferring the tax bill ... Read more
In spite of two divorces, two bankruptcies, and one short sale, I have been able to somehow amass about $500,000. I am going to retire at the end of this year at 66. I already started taking SS, and h...
June in Washington State is 62 with $2.5 million saved and a $350,000 pension on the table. Should she take the lump sum or the monthly check for life? Spoiler alert: there's a 3-to-1 vote in the stud...
A big single-stock win can feel like freedom one day and a tightrope the next. This plan walks through how a family holding ~$15M in NVIDIA shares can turn concentrated success into stable, low-stress...
A mega backdoor Roth IRA allows high-income earners to potentially move tens of thousands of dollars into a tax-free retirement account. This is how it works.
I 60F wish to retire sometime this year. I have the financial ability but have some complex moving parts. Under consideration is using some Roth money to keep my MAGI low enough to get an ACA premium ...
(No, not the go-go, slo-go, no-go adage) I just got my letter from Social Security saying, it’s time, bud, apply to claim your benefits. I’ll be 70 in a few months. For the last 2.5 years, my wife and...
Today on Your Money, Your Wealth® podcast number 580, Joe Anderson, CFP®, and Big Al Clopine, CPA, are spitballing for some folks who've done the work, hit the numbers, but aren’t sure if they can rea...
Roth conversions have become a hot financial buzzword in recent years, but they're frequently misunderstood. Here's why they aren't the best move for everyone.
I left my job in 2025 but contributed to my Roth IRA because I was still working in that year. This year, I started working as a W-2 contractor for my former company through a contracting company. I t...
Time is a young investor’s greatest asset. Discover how small contributions today can evolve into a tax-free fortune by the time they retire.