New York, Transamerica Center, Lori discussed on Chris Hogan's Retire Inspired

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Husband both could do fifty five hundred that would be eleven thousand dollars but here's the other issue the money that was in your 401k remember that's pretax money that money went in you hadn't pay taxes on it yet okay and so because you you can't do that because you haven't paid taxes on it you'd have to convert so here's what i would say to do you put that money in pretext let's allow it to remain pretext by rolling it over into an ira but then you and your your husband could each open up a roth ira outside of that and do that post tax on allow it to grow tax free okay so just think of it as buckets there are limitations on the buckets their limitations on the steps you can do with money that was the first as a 401k that now you're trying to look at another area so just roll that over you and your husband opened up a roth ira start to open that that's post tax money so it's going to grow tax free and you guys are well on your way lori and it was a pleasure to talk with you thank you so much and she'd use my line w i like that i love when people are listening i love when people tell me they're focused and not finish dwi had somebody do that to me in the airport not too long ago when i was in new york they walked up to me and they said hey i'm focused and not finished i wanted to hug him but there's laws against that you can't touch strange people but that's not a stranger that's my vip there in the family i loved it so fantastic well listen i you know i love to do research i'm a research nerd i'm always looking for articles looking for information that encourages you that can encourage myself remember we're in this thing together vip's and so i ran across an article and this was the title eighteen facts about women's retirement you can't afford to miss well it had my tension i know women i know people here on my team i know my mom my aunt i know people that are women that that need help with this and so i was i was interested and here's a recap a recent report from transamerica center for retirement studies show that women have a long way to go when it comes to saving for retirement between their failure to plan and a lack of savings.

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