"Carl and Jane" have eight million bucks, and their advisor is suggesting a 130/30 long-short investing strategy. Joe Anderson, CFP® and Big Al Clopine, CPA spitball on whether this is a smart tax move or unnecessary complexity - and whether they would do it themselves, today on Your Money, Your Wealth® podcast number 572. Plus, Tyrone and Tova think they may never even need their retirement accounts, so do they really need to bother with Roth conversions if the kids are going to inherit the money anyway, or could skipping the conversions mean losing half their retirement income to taxes? Mark in S...
"Carl and Jane" have eight million bucks, and their advisor is suggesting a 130/30 long-short investing strategy. Joe Anderson, CFP® and Big Al Clopine, CPA spitball on whether this is a smart tax move or unnecessary complexity - and whether they would do it themselves, today on Your Money, Your Wealth® podcast number 572. Plus, Tyrone and Tova think they may never even need their retirement accounts, so do they really need to bother with Roth conversions if the kids are going to inherit the money anyway, or could skipping the conversions mean losing half their retirement income to taxes? Mark in San Diego is juggling Roth conversions and Social Security timing without blowing up his tax bill, or the income-related monthly adjustment amount for Medicare, or net investment income tax. And "Boat Drinks" has a big non-qualified deferred compensation plan. How can he structure payouts before it turns into a tax nightmare - and before he potentially gets laid off?
Free Financial Resources in This Episode:
https://bit.ly/ymyw-572 (full show notes & episode transcript)
The Emotionless Investing Guide - free download
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The Ultimate Guide to Roth IRAs - free download
https://purefinancial.com/white-papers/roth-ira-white-paper/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-572
The Truth About Your Love/Hate Relationship with Money - YMYW TV
https://purefinancial.com/ymyw/episodes/truth-about-love-hate-relationship-with-money/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-572
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Chapters:
00:00 - Intro: This Week on the YMYW Podcast
01:12 - Should Investors with $8M Use a 130/30 Long-Short Investing Strategy? (Carl Sandburg and Jane Addams, California)
12:42 - We'll Never Need Our Retirement Accounts. Should We Still Do Roth Conversions? (Tyrone and Tova)
27:18 - Roth Conversions vs. Social Security: Which Comes First? What About IRMAA and NIIT? (Mark, California)
38:16 - How to Structure Non-Qualified Deferred Compensation Payouts When a Layoff Might Be Coming? (Boat Drinks)
50:10 - Outro: Next Week on the YMYW Podcast
