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| Name | Should Market Declines Impact “Old Folks” Roth Conversion Decisions? I YMYW Podcast |
| Video Uploader | Video From Your Money, Your Wealth |
| Upload Date | This Video Uploaded At 25-05-2022 22:00:04 |
| Video Discription | Question: Should Market Declines Impact “Old Folks” Roth Conversion Decisions? (Geriatric Anonymous, Missouri) You do not often address us old folks. So this is your chance. I am 85 and my wife is 72. We have more than enough to live on for the rest of our lives. Our financial goals are 100% legacy. I am still working half time and my employer allows me to continue to contribute to a traditional IRA which now totals 1.6 Million. I also have 500,000 in traditional IRAs and 500,000 in Roth IRAs apart from my employer IRAs. I have 800,000 in a brokerage account. I have been converting my non-Roth IRAs to Roth staying in the 24% tax bracket, about 100,000 a year. After I die my retirement pension, social security and employer RMDs inherited by my wife will activate a widow tax in the 32+% range, a substantial portion coming from my employer RMDs. Should I increase my conversion rate into the 32% tax bracket now and after I retire until I die to reduce and limit the tax burden on my wife. Should the current stock market decline have any impact on my decision. I have three daughters, all financially secure, who will be the beneficiaries. They are all in their 30s and thus have many years to further accumulate whatever we leave them. Listen to the entire Your Money, Your Wealth® podcast: https://bit.ly/ymyw-379 Download the Ultimate Guide to Roth IRAs: https://purefinancial.com/white-papers/roth-ira-white-paper/?utm_source=youtube.com&utm_medium=PodcastClips&utm_campaign=YMYW Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation. Schedule a free assessment with any one of our experienced financial professionals: https://purefinancial.com/lp/free-assessment/?utm_source=youtube.com&utm_medium=PodcastClips&utm_campaign=YMYW Office locations: https://bit.ly/PureLocations Ask Joe & Big Al On Air: https://purefinancial.com/ymyw/ask-joe-and-al/?utm_source=youtube.com&utm_medium=PodcastClips&utm_campaign=YMYW Subscribe to our YouTube channel: http://bit.ly/YMYW-YouTube Subscribe to the Your Money, Your Wealth® podcast: https://link.chtbl.com/ymyw?sid=y IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor. • Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your 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. As rules and regulations change, content may become outdated. • 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. 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. #StockMarket #MarketDecline #RothConversion EWRmR6GQ1ZQ |
| Category | Education |
| Tags | Big Al Clopine | Joe Anderson | Pure Financial Advisors | retirement podcast | financial podcast | Your Money Your Wealth | retirement planning | personal finance 101 | pure financial | personal finance | financial planning | wealth management | personal finance tips | my retirement portfolio | Market Declines | Roth Conversion | market volatility | stock market decline | market downturn | down market | stock market | personal finance management | tax planning | tax strategies |
