Good Tax Planning Can Save You HOW Much?! Find Out From IRA Guru Ed Slott, CPA

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Good Tax Planning Can Save You HOW Much?! Find Out From IRA Guru Ed Slott, CPA - 489

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The single biggest retirement planning mistake to avoid, the problem with tax professionals, and answers to some of the most frequently asked retirement questions we get on YMYW: should you name a trust as beneficiary on your retirement accounts? What’s the break-even point on a Roth conversion? What if you don’t have the money to pay the tax when you convert to Roth? Plus, find out the eye-opening amount of money good tax planning can save you! Someone has to be very knowledgeable, entertaining, and special to make it as a guest on YMYW these days, and today on Your Money, Your Wealth® podcast 489, “the IRA guru” Ed Slott, CPA from IRAHelp.com joins Joe Anderson, CFP® and Big Al Clopine, CPA to discuss all of these topics, along with changes to stretch IRAs and required minimum distributions from the SECURE Act and SECURE 2.0 Act. Free financial resources and transcript: https://bit.ly/ymyw-489

50 people will receive a free copy of Ed Slott’s new book, The Retirement Savings Time Bomb Ticks Louder, just for having a free financial assessment with Pure Financial Advisors. (10 of those 50 will be randomly selected to receive a copy of the book, signed by Ed Slott!) Schedule your assessment ASAP!

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Final Regulations for Required Minimum Distributions

Timestamps:

00:00 - Introducing Ed Slott, CPA from IRAHelp.com

01:28 - SECURE Act: Clarity on RMD Rules?

04:31 - How Golf and Football Are Like Retirement

06:25 - The Biggest Retirement Planning Mistake

09:37 - The Value of Ed Slott's Books

14:14 - The Problem With Tax Professionals: Short-Term Tax Planning

17:36 - "I Love Roths Because I Love Tax-Free"

20:50 - What's the Break-Even Point on a Roth Conversion?

21:45 - Can We Trust That Roth IRAs Will Always Be Tax-Free?

24:11 - Your Chance at a $100 Amazon e-Gift Card: Complete the YMYW Podcast Survey

25:04 - SECURE 2.0 Act: Stretch IRA Changes

27:03 - Naming a Trust as Beneficiary of Your Retirement Account: Good Idea?

32:13 - Unnecessary and Excessive Taxes: Why Ed Slott Became the IRA Expert

38:22 - How Much Money Can You Save in Taxes With Good Tax Planning?

43:16 - What About People Who Don't Have the Money to Pay the Tax on a Roth Conversion?

43:50 - Ed Slott's PBS Specials on Retirement

46:28 - How to Get a Free Copy of the Latest Ed Slott Book, The Retirement Savings Time-Bomb Ticks Louder

492 episoder