Podcasts Business Investing Your Money, Your Wealth How Much to Save in Tax-Free, Tax-Deferred, and Taxable Accounts? - 468

How Much to Save in Tax-Free, Tax-Deferred, and Taxable Accounts? - 468

Published: Feb. 13, 2024, noon

Are there general guidelines on what percentages of your investment portfolio should be in tax-free accounts like your Roth, tax-deferred accounts like your 401(k), and taxable accounts like your brokerage? Joe Anderson, CFP\xae and Big Al Clopine, CPA spitball on tax diversification today on Your Money, Your Wealth\xae podcast 468 for Brian in Naperville, IL. William in NH also wants to be tax-diversified. Is his Roth conversion strategy a mistake? Should he be converting much more to Roth? The fellas also do a retirement spitball analysis for Tom in Spokane, WA, and for Claire in CO, who wants to retire next year. Plus, how does Matthew in CT calculate excess Roth contributions, and how should Thomas in IA reallocate assets he over-contributed to his brokerage account? But first a couple of voice messages: Now that Sean in FL no longer has a traditional IRA, can he use the backdoor Roth strategy? We kick things off with a question from Joe in Dallas on how to account for taxes on the money you\u2019ll be spending in retirement. Access this week's free financial resources and the episode transcript in the podcast show notes, and\xa0Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-468

Timestamps:

  • 01:06 -\xa0How to Account for Taxes on What I\u2019ll Spend in Retirement? (Joe, Dallas, TX (voice)
  • 06:13 - Now That I Don\u2019t Have a Traditional IRA, Can I Do a Backdoor Roth? (Sean, FL - voice)
  • 10:29 - 2024 Key Financial Data Guide - free download
  • 11:35 - Spitball Our Financial Status and How to Reach Our Retirement Goals (Tom, Spokane, WA)
  • 17:42 - Tax Diversification General Guidelines? (Brian, Naperville, IL)
  • 23:23 - Goal: Tax Diversification. Is My Roth Conversion Strategy a Mistake? Should I Convert Much More? (William, NH)
  • 29:12 - Retirement Pop Quiz and Free Financial Assessment
  • 30:04 - Spitball If I Can Retire in 2025 (Claire, CO)
  • 34:39 - How to Calculate Excess Roth Contributions? (Matthew, CT
  • 38:23 - Over-contributed to Brokerage. How Should I Reallocate Assets? (Thomas, Iowa)
  • 42:55 - The Derails