Retirement Answer Man

July 2023
S	M	T	W	T	F	S

						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28	29
30	31

Wed, 26 July 2023

After listening to the past two episodes you now know how to make Roth contributions and conversions, that was the easy part.

Today we discuss the more complicated Roth rules for making withdrawals. To avoid unnecessary penalties and taxes you’ll want to make sure that you clearly understand the regulations surrounding Roth withdrawals. Listen to ensure that you don’t get caught unaware and needlessly get stuck paying avoidable taxes and fees.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

[1:32] Building a target to work for to build healthy habits
[6:20] The golden rule of Roth withdrawals
[8:58] The order of withdrawals
[11:08] How the five-year rule works with contributions
[16:41] How the five-year rule works with conversions
[19:33] How the five-year rule works with a Roth 401K

LISTENER QUESTIONS

[27:11] On taking money from a 401K and moving it to a Roth IRA so that someone can manage it
[31:34] How to decide whether to convert funds into a Roth IRA
[35:03] Estimating Social Security income using the detailed calculator
[36:01] Clarifying the five-year rule start date
[38:40] Deciding whether to claim Social Security early

BRING IT ON

[43:14] Intentions vs actions

TODAY’S SMART SPRINT SEGMENT

[46:42] Catch yourself setting intentions

Resources Mentioned In This Episode

Dexa Scan

BOOK - Outlive by Peter Attia

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM497.mp3
Category:general -- posted at: 2:00am CDT

Wed, 19 July 2023

The Rules for Roth Conversions

Many of us have missed the boat on Roth contributions, but we have another tool to get into Roths: Roth conversions.

If you have been curious about all the hype about Roths you won’t want to miss this series. This month we dive deeper into Roths. In episode 494 we discussed what Roths are, last week we dove into contributions, and this week we demystify conversions. Listen in to learn how you can use Roth conversions to upgrade your retirement.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

[2:44] I try to keep the main thing the main thing
[3:49] Many of us have missed the boat on Roth contributions
[7:11] How to perform a Roth conversion
[8:45] How do you pay the tax on a Roth conversion?
[14:05] The pros of paying from after-tax assets
[16:22] The downsides of paying with after-tax assets

LISTENER QUESTIONS

[19:05] A rule of 55 clarification
[22:20] What happens if my income is too high to contribute to a Roth
[23:52] How to create a 5-year cash bucket in down markets
[30:13] On creating a bond portfolio ladder

BRING IT ON

[38:12] On relationship building

TODAY’S SMART SPRINT SEGMENT

[43:09] Get out of your normal routine and meet new people

Resources Mentioned In This Episode

Episode 494 - Roth Opportunity

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM496B.mp3
Category:general -- posted at: 2:00am CDT

Wed, 12 July 2023

The Rules for Roth Contributions

So many economic predictions for the year have proved incorrect. Since even the brightest economists don’t have a crystal ball, planning your retirement based on economic, market, or investment predictions can lead you astray.

Instead of basing your retirement plan on wishful thinking, learn how to create a strategic retirement plan based on agency.

Today, and during this entire Roth IRA series, we’ll see how you can use Roths to enhance your retirement plan. Listen to this episode to hear whether you should be making Roth contributions to help fund your retirement.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

[5:48] How to make Roth IRA contributions
[8:04] How backdoor Roth contributions work
[13:47] The difference in the Roth 401K

LISTENER QUESTIONS

[19:45] Envisioning family legacy options
[28:08] Spousal Social Security benefits
[31:26] Optimizing taxes and estate planning

BRING IT ON WITH KEVIN LYLES

[39:20] On designing a phased retirement
[45:02] Make sure your phased retirement isn’t an excuse to not retire

TODAY’S SMART SPRINT SEGMENT

[47:30] Examine whether you should be making Roth contributions

Resources Mentioned In This Episode

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Direct download: RAM495.mp3
Category:general -- posted at: 3:00am CDT

Wed, 5 July 2023

The Roth Opportunity

If you’ve been wondering how Roth IRAs work in retirement you’ve come to the right place. All this month we’ll be exploring Roth IRAs–how they work, the 5-year rule, and the differences between Roth conversions and contributions and Roth IRAs and Roth 401Ks.

My goal with this series is to level the playing field so that you can understand the opportunities that Roths provide. On this episode, you’ll learn how you can use a Roth to enhance your retirement. If you are ready to start optimizing your retirement press play.