How Much Should You Convert to Roth IRA? #RothConversion #retirementspitball

Big Tex, Paul, and Nick all need to know how much money they should convert to Roth to pay as little tax as possible, today on Your Money, Your Wealth® podcast 471 with Joe Anderson, CFP® and Big Al Clopine, CPA. Johnny and June forgot to convert their backdoor Roth money - are they in trouble? Darren has no plans at all to do Roth conversions, but surprisingly still listens to YMYW, and still wants a spitball on his retirement and real estate investment strategies. Plus, can Lolly Pop in New Jersey be less miserly and back off on saving for retirement? Can John in South Carolina use this year’s lower income to reduce his Medicare premiums? And finally, if Ordinary Guy in Boston meets an untimely demise, should that change his plans to #RetireEarly? 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-471

00:00 - Intro
00:58 - Can I Use This Year’s Lower Income to Reduce My Medicare Premiums? (John, South Carolina - voice)
04:39 - Forgot to Convert our Backdoor Roths. Are We in Trouble? (Johnny and June, Oakland, CA - voice)
07:47 - Is Retiring This Year Doable? Should We Convert to Roth? $1.8M Saved, Spend $140K/Year (Big Tex - voice)
13:55 - DIY Retirement Guide - limited time offer - download by this Friday, March 8, 2024! https://purefinancial.com/ymyw/#ymyw-special-offer
15:05 - Should I Convert My Entire SEP-IRA If I’m Staying in the Highest Tax Bracket? (Paul, Baltimore, MD)
20:51 - $11M+ at Age 46. How Much Roth Conversion and When to Retire? (Nick, AL)
24:42 - Can I Back Off on Retirement Saving So I Can Be Less Miserly? (Lolly Pop, NJ)
30:43 - Financial Markets Master Class webinar - watch on demand: https://purefinancial.com/ask-pure/financial-markets-master-class-q1-2024-market-update/?utm_source=youtube.com&utm_medium=podcast&utm_campaign=YMYW-471
31:24 - Spitball on My Retirement and Real Estate Investment Strategies (Darren, NV)
38:28 - Should My Untimely Demise Change Our Early Retirement Plans? (Ordinary Guy, Boston, MA)
48:10 - The Derails

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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.

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