Austin Hankwitz

speaker

11,348 appearances 34 recordings 1 series first heard Jun 2026 last heard 4d ago

Austin Hankwitz’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 34 in all, peaking in Aug 2026 with 13.

Appearances

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Rich Habits Podcast · 187: What Makes Someone Financially Free? · 14 Sep 2026 podcast

So what could happen is, to Robert's point, you might not need that money that year because maybe your earned income is doing fine. podcast-host

You have a pension or maybe Social Security. podcast-host

Something's happening here. podcast-host

But you still have to withdraw this money from these accounts. podcast-host

Now get bumped up to maybe a higher tax bracket than you were expecting. podcast-host

And now your tax bill is materially eating into your ability to be financially free in retirement. podcast-host

So like this is a really important section that you need to do more research on. podcast-host

Talk about this with your CPA and your financial planner to better understand exactly how, especially if right now you are in your 50s or 60s and you're getting ready to retire pretty early or whatever's going on, how required minimum distributions are going to impact you. podcast-host

Now, podcast-host

Now, the solution is this Roth conversion window. podcast-host

The Roth conversion window becomes one of the most underused strategies in retirement planning. podcast-host

And here's the idea as to why the years between when you actually retire, call it 65 and when the required minimum distributions kick in at 73, that eight year period of time are often the lowest income years of your entire life. podcast-host

You're not earning that 120, 150, $180,000 salary anymore. podcast-host

You're not yet forced into the required minimum distributions that could be maybe even six figures a year. podcast-host

It's the cheapest window you'll ever have to convert money from that traditional IRA into a Roth IRA or whatever the Roth equivalent account is that you're working with, meaning podcast-host

You pay taxes on it now, but you're paying taxes on it as someone whose tax bracket might be, I don't know, sub 20 percent, sub 15 percent, whatever it might be for you versus in the future with those required minimum distributions on top of a Social Security, on top of something else. podcast-host

Now you're bumped up to 22, 24, 26, 28 percent, and you're now paying taxes to the government because you did poor planning earlier in your mid to late 60s. podcast-host

And remember, when you convert this to that Roth account, it now grows completely tax free with zero required minimum distributions required on the Roth money for the rest of your life. podcast-host

So getting as much money converted out of that traditional IRA into a Roth account while you have no required minimum distributions is definitely a pro tip. podcast-host

This is called bracket management. podcast-host

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