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Your Money, Your Wealth

Should You Switch Retirement Contributions to Roth? - 518

25 Feb 2025

Description

Is it better to save for retirement in traditional 401(k)s and IRAs, or in Roth accounts? That's today on Your Money, Your Wealth® podcast 518 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what are the rules around contributing to two different types of Roth accounts? If required minimum distributions will be staggered because of a couple's age difference, should they convert their retirement savings to Roth, or leave it alone? But first, Joe and Big Al have a backdoor Roth conversion withdrawal debate to settle. Access free financial resources and the episode transcript: https://bit.ly/ymyw-518 DOWNLOAD The Ultimate Guide to Roth IRAs for free WATCH Will Your Money Last Through Retirement? on YMYW TV DOWNLOAD The Retirement Lifestyles Guide for free WATCH Is a Market Correction Coming in 2025? Q&A and Feedback (YouTube Exclusive) ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:02 - Can Backdoor Roth Conversions Be Withdrawn at Any Time? (Tyler, Arlington, VA) 06:11 - Am I Allowed to Have Two Roth Accounts? Should I Use My Roth 403(b)? (Kimberly, NY) 07:06 - Should I Switch Contributions from Traditional TSP to Roth? (Kate, Cleveland, OH) 11:47 - Download the Ultimate Guide to Roth IRAs for free 12:43 - Self-Insuring Long-Term Care: Traditional IRA or Roth? (Neo, San Clemente, CA) 18:05 - Our RMDs Will Be Staggered. Should We Convert $4M to Roth or Leave It Alone? (Mike, Western PA) 22:00 - Should I Switch Traditional IRA Contributions to Roth? (Joe, NC) 25:39 - Watch Will Your Money Last Through Retirement? on YMYW TV, Download the Retirement Lifestyles Guide for free 26:31 - Should We Dial Back Pre-Tax Savings and Put More in Brokerage? (Herc & Angel, MA) 31:44 - We Can Mega-Save. What's Our Plan of Attack? Ricky Bobby, Charlotte, NC) 38:42 - Watch "Is a Market Correction Coming in 2025? YMYW Podcast Q&A and Feedback" (YouTube Exclusive)

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