Anne Tergesen

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4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Money Moves for the New Year: Gearing Up for Retirement · 27 Dec 2024 podcast

So if you're 65 or older and you qualify for Medicare, at least you have the option of getting some reasonably priced health insurance that's partly subsidized by the government because you've paid in over the years.

If you're younger than 65, a lot of people either stay on their company plan.

Chances are you're going to have to pay more than what you pay as an employee for that same coverage.

And it only allows you to stay on that coverage for a finite amount of time.

The traditional advice has been first you spend from your taxable accounts like your brokerage accounts or your bank accounts.

A lot of people stockpile five years worth of living expenses in cash in their bank account.

With that in mind, then you spend from traditional IRAs and 401ks and then you spend from Roth IRAs and 401ks.

And the idea there is that

The Roth 401ks are tax-free, meaning you pay taxes on the money you contribute, and then it grows tax-free.

So you have the power of compounding in that account like in no other because there is nothing you're going to pay in taxes once you pay the taxes and put the money in there.

So the idea is you want to give that the most time to grow.

Now, a lot of people who are retiring now or will retire soon –

Historically, during their careers, they have really not had the Roth 401k option.

The Roth 401k option is something that's caught on in the last decade or so.

So advisors are increasingly seeing the value of having some money in Roth.

for people.

And so that's something that they often recommend that people think about whether to convert money from a traditional IRA to a Roth in the early years of their retirement.

That's something that's good to think about when maybe the year or two or three before you retire, start thinking about whether that kind of strategy is going to make sense for you.

It's a complicated decision.

A lot of people do hire and consult or at least consult with an advisor.

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