Podcasts Business Investing Your Money, Your Wealth 401(k) vs. Roth: Where to Save for Retirement - 480

401(k) vs. Roth: Where to Save for Retirement - 480

Published: May 7, 2024, 11 a.m.

Kyle and his fianc\xe9e are in their 30s, have done a great job saving, and are in a high tax bracket. Would it make more sense for them to contribute to their 401(k)s or Roth 401(k)s for retirement? Mick\u2019s wife Pam has both W-2 and sole proprietor income - where should she save for retirement? That\u2019s today on Your Money, Your Wealth\xae podcast 480 with Joe Anderson, CFP\xae and Big Al Clopine, CPA. Plus, the fellas spitball for Janet on where junk bonds belong in a portfolio, they untangle the pro-rata and aggregation rules concerning 401(k) to Roth conversions for Nancy, and they spitball on whether Cary and Mark should retire now or work for two more years when pensions will provide them an extra $50K a year. Free financial resources and transcript: https://bit.ly/ymyw-480

2024 Key Financial Data Guide - free download

Timeless Wisdom from Warren Buffet and Charlie Munger, Berkshire Hathaway\u2019s Dynamic Duo - read the blog

Understanding Stock Market Indexes - read the blog

Free retirement calculator - EASIretirement.com

Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Timestamps:

  • 00:00 - Intro
  • 00:57 -\xa0We're in Our 30s and in a High Tax Bracket. Where Should We Save for Retirement? (Kyle, WI)
  • 07:34 - Junk Bonds Explained (Janet, the Bronx)
  • 13:19 - Does Pro-Rata Rule Apply When Converting 401(k) to Roth 401(k)? (Nancy, SE Wisconsin)
  • 20:37 - We Have $4M. Should We Retire Now or in Two Years When Pensions Provide an Extra $50K/Year? (Cary & Mark, Los Angeles)
  • 27:50 - How to Save for Retirement with Sole Proprietor and W-2 Work? (Mick, Davis, CA)
  • 36:47 - The Derails