Can High Earners Fund a Roth IRA Without Paying More Tax? - 455

Steve & Sharon in Minnesota are high earners - can they get more money into their Roth IRA without paying more tax? Should Fred in western New York do Roth conversions before required minimum distributions kick in? If Mike in Utah saves on healthcare premiums now, will that mean large RMDs and tax bills for him later? Should Mark in Maryland do a backdoor Roth after maxing out his 401(k)? And should Joseph in Kansas contribute to his new employer's traditional or Roth 401(k)?

Timestamps:

• 00:49 - Should We Do Roth Conversions Before RMDs Kick In? (Fred, western NY)
• 10:22 - Will Saving on Healthcare Premiums Now Mean Large RMDs and Tax Bills Later? (Mike, UT)
• 19:36 - Where to Invest After Maxing Out 401(k)? Backdoor Roth? (Mark, MD)
• 28:04 - How to Get More into Roth Without Paying More Tax? (Steve & Sharon, Roseville, MN)
• 39:24 - Roth 401(k) or Traditional 401(k) With New Employer? (Joseph from Wichita, KS)
• 47:08 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-455

• End-of-Year Tax Planning Webinar - live and free, tomorrow Nov 15, 2023, 12pm Pacific, 3pm Eastern - register now!
• How to Build a Recession-Proof Portfolio - YMYW TV
• Recession Protection Guide - free download
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis