401(k) Ins & Outs, Roth Conversion Benefits, and Divorce Finances - 469
Erik in MN is divorced, and the OC Birdman of South OC is getting divorced. Should Erik contribute to pre-tax retirement accounts or Roth? How should the Birdman and his soon-be-ex time the sale of their house and the filing of their taxes? That’s today on Your Money, Your Wealth® podcast 469 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Don has questions about the 401(k) rule of 55 and excess 529 plan college savings. Valerie in Portland wants to know what to do with her old 401(k), and how to invest her new retirement accounts. An advisor tells K-Dog in IN to save cash or open a Roth, then live on those funds and get free ACA "Obamacare" healthcare in early retirement. Is that really possible? Also, what should be Laura in WA’s sequence of retirement withdrawals, and is there any benefit to her doing Roth conversions? Should RJ in CA convert his or his wife’s rollover IRA to the top of the giant 24% tax bracket? Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-469
Timestamps:
- 00:00 - Intro
- 01:06 - 401(k) Rule of 55 and Excess 529 Plan Funds (Don, Everywhere, USA)
- 06:03 - What to Do With Old 401(k) and How to Invest New Retirement Accounts? (Valerie, Portland, OR)
- 10:33 - 10 Steps to Improve Investing Success - free download
- Protecting Your Retirement Income - YMYW TV
- 11:39 - Is My Early Retirement Spending & Free Healthcare Plan Really Possible? (K-dog, Northern IN)
- 22:13 - Should I Contribute to Pre-Tax or Roth Post-Divorce? (Erik, Minneapolis)
- 28:27 - How to Sell House and File Taxes While Finalizing Divorce (OC Birdman in South OC)
- 32:27 - Q1 2024 Financial Markets Update Webinar, Feb 28, 2024, 12pm Pacific - register now
- 33:07 - What’s the Sequence of Retirement Withdrawals? I Don’t See the Benefit of Roth Conversions (Laura, Seattle - Olympic Peninsula)
- 40:42 - Roth Conversion to the Top of the Giant 24% Bracket? Which Rollover to Convert First? (RJ, Anaheim)
- 49:09 - The Derails