Your Money, Your Wealth Your Money, Your Wealth

As bear market territory freaked out some investors, YMYW listeners were a bit more chill as Joe and Big Al spitballed on their specific strategies to manage the decline: does it make sense to move to cash inside your retirement account? How do down markets impact Roth Conversion decisions for older investors? What should your asset allocation be now, during market volatility, if you’re expecting a future windfall? How should you manage the relationship with your financial advisor if they buy high and sell low in your investment portfolio? Should you leave a partially vested pension to grow, or withdraw the money now and convert to Roth? What’s the best way to withdraw from an IRA in a down market? Show notes, free financial resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-379

Required minimum distributions: how do they work, when do you have to take them, and do Roth IRAs have RMDs too? Plus, were the fellas being misleading when they talked about claiming Social Security early vs. late if you save and invest the benefits? Listen for their rebuttal. When you change 401(k) custodians, is it a transfer, or a whole new plan? Can you convert your entire 401(k) to Roth, and should you? Finally, If you’re worried about high tax brackets in retirement, should all your contributions now go to Roth? Show notes, free financial resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-378

Joe & Big Al talk strategy for converting to Roth and paying tax from the IRA when you have limited funds, eliminating required minimum distributions (RMD) on a Roth 457 and avoiding the 5-year Roth clock, and Roth 457, Roth IRA, and Roth TSP. Plus, the fellas spitball pension options, retiring early, and an intricate and potentially risky deferred compensation strategy. Show notes, free financial resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-377

How does Social Security work for self-employed small business owners? Is there a solo 401(k) that allows after-tax contributions? How much cold, hard cash should you keep on hand? Why do advisors suggest buying a fixed indexed annuity, and how do qualified charitable distributions work? Finally, is it a good idea to pre-pay the mortgage on a real estate investment, and how do you calculate the tax on a home you inherited? Show notes, free financial resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-376

Does it make sense to do larger “Calvin Johnson” (megatron, aka mega backdoor) Roth conversions when the financial markets are way down? Should you convert to Roth now, or in retirement? How do you spitball the right amount to have in 529 plans for education savings? And are the rules for doing a backdoor Roth the same if you’re married filing separately? Show notes, free financial resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-375

When is it appropriate to buy an annuity? Joe and Big Al run a retirement annuity spitball analysis. When might it make sense to take Social Security early, and what are the rules for collecting survivor Social Security benefits?  Finally, how does net investment income tax (NIIT or the Medicare surtax) on long term capital gains impact a house sale? Is it possible to do a 1031 exchange from rental real estate in Utah for investment property in California? Show notes, free financial resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-374