35 Burst results for "Roth"

"roth" Discussed on Clark Howard Show

Clark Howard Show

05:26 min | 3 weeks ago

"roth" Discussed on Clark Howard Show

"Have heard that the amount you can put in a 401k or similar workplace kind of plan was increase for 23 to huge amounts. But the headlands buried the lead and in fact, it hadn't been talked about at all. Roth IRA rules changed as well and I want to tell you about the changes in the Roth and also I have a car economic segment coming for you on the economy and our deficit. So the Roth IRA contributions, which are so key to me, have lagged under the law so far behind what you can put in a 401k. And why and the infinite wisdom of the U.S. Congress, the law is set that way. I don't know. Because you can put these ginormous amounts into a 401k over $22,500 unless you're older you can do $30,000 in a year into a 401k. And that's what all the headlines were about. But the truth is, there's almost nobody who puts into a 401k. Up to what the federal limits are, even before they reset for 23. So Roth though, on the other hand, people have been limited for years to $6000. That's bumping up to 6500. If you're 50 years old and over, you're allowed to do 7500 in 23. And this is good news, but I still don't understand the disparity. I don't get it. Why people who are, let's say, self employed or work for a small business doesn't offer a retirement plan. Why they are not able to save with both hands tied behind their backs, not able to save people who work for a larger company that can have an afford and offer a 401k. But I'm not in the Congress. I can't fix this. So the good news is at least you can save a little more, but the great news is the income levels that make you eligible for a Roth have been raised quite a bit because the inflation we've had recently in the economy. If you're a single individual, you're able now to contribute to

Roth Congress
Why Happened When Assange Was Holed up in Ecuador's London Embassy

The Charlie Kirk Show

02:11 min | Last month

Why Happened When Assange Was Holed up in Ecuador's London Embassy

"Roth is here who is an attorney for some people that went to go meet with Julian Assange journalists and lawyers that were then spied on walk us through that. So he's in the Ecuadorian embassy. And then the equity embassy. Let me just make one comment on what you said. Even if my argument is, even if Julian Assange actually told these people to go out and get bad stuff, that's still not a crime. That's what the press does every day. But let's go to the embassy. Let's go to the embassy and that'll come out. And what I'm concerned about there is any investigative reporter who set the way with the lower perspective. Or in that part of the need that letter, that's not illegal, but let's go to the 5 case in particular. By corruption, but I think it's just being with between the press and investigative reporting and someone taking information Manning and Snowden did. So what would happen was while he was in the MSD for 7 years, people went to visit him. People went, his doctors, his lawyers, his friends, his colleagues, and when he went into the embassy, they had a protocol. You had to actually give the embassy security your following your tablet, your laptop, everything you had had to go to them before you walk in to meet Assange, which sounds okay. They don't want any kind of tip we're going to vice ver everything. That makes sense. So what we learned from a litigation in Spain was that the embassy wasn't just holding your cell phone, your tablet, your laptop, while you were in meeting, they were imaging it. So they literally imaged the entire. Phone laptop of people that went in and think about the Ecuadorian government did that. The equity overall, here's what happened. The Ecuadorian government hired a company called UC global. UC global had essentially formed became essentially an age of the CIA because what this UC global employee started saying is, listen, why am I doing this? And we have affidavits at UC global people saying, why am I doing this as setting it to Washington? Why am I imaging it? So you can watch it.

Julian Assange Ecuadorian Embassy Roth Ecuadorian Government Snowden Manning Assange Uc Global Spain UC CIA Washington
Trial Attorney Richard Roth Shares the Story of Julian Assange

The Charlie Kirk Show

02:16 min | Last month

Trial Attorney Richard Roth Shares the Story of Julian Assange

"I'm going to ask you just to kind of educate our audience a little bit. Again, who is Julian Assange? What did he do? Just some of the backstory around him. We have some younger listeners that weren't really watching the news as this was all kind of frontline news. So walk us through that. Sure. It's a very interesting complicated story. Let me simplify for those listeners and you want to doing this challenge is an individual who has a company called WikiLeaks. WikiLeaks does nothing other than publish material. It's The New York Times DNN. It's published his material. It's all it does. Years ago, it got sensitive material from a couple of people who were working at the NSA, healthy man, and a couple others. And received and published. It was pretty bad material. It basically showed videos where the army was killing innocent ironically. Or then the government did not like that. And the government decided that it wanted to extra to him under what's called the espionage act, notwithstanding the fact that he received the material. He didn't do anything illegal. He received under The New York Times received stuff, but about you name it. You name the issue. So he actually took asylum in Ecuador and the Ecuador embassy in London because he did not want to be activated but to the U.S. because he was very concerned that the U.S. would essentially try and potentially convict him under this crazy espionage act. The same act that Rand Paul said two weeks ago, Donald Trump shouldn't should be abolished and Donald Trump shouldn't be subject to and let him rely fiasco. So he's been sitting in Ecuador for 7 years during the that's sort of the basics of it. And he's been sort of confined in his own jail. I'm sorry, in the Ecuadorian embassy, not in Ecuador. I withdraw that. Got it. The Ecuadorian embassy in London. So he's been in London for years in London for 7 years, about a year ago, a little lower a year ago. Actually, two years ago, COVID makes us forget what happened. The ecuadorians literally physically removed the embassy, brought him to a jail in London, and he had an extradition trial. An extradition trial was a trial to actually write him to the U.S., which he was really adhering, which he lost,

Wikileaks Julian Assange The New York Times Ecuador Embassy Ecuador Ecuadorian Embassy Donald Trump NSA London Government U.S. Army Rand Paul
"roth" Discussed on Retire South Shore Radio

Retire South Shore Radio

08:24 min | 2 months ago

"roth" Discussed on Retire South Shore Radio

"The market, it drops, right? And it's, let's say, extreme example. It drops by 50%. So now your stock has gone down by 50%, which means your account's gone down by 50%. It doesn't mean that you want to necessarily sell it because you believe that it's going to come back in the future. Well, you're still only able to convert that $20,000 in your tax plan, but now that $20,000 represents twice as many shares in that company. So you be characterize it essentially at a 50% discount and then write it back up in the Roth IRA, completely tax free. I hope people are really paying attention to what you just said. That was something that really opened my eyes what you just talked about. And the strategies that are involved in shifting and converting, but knowing that this is something that has long-term consequences. In this case, positive consequences doesn't look positive on the outside, but it does have possibilities on the inside. Yeah, absolutely. Listen, I say this weekend and week out on the show and webinars, seminars, and meetings with people who are new to the office who haven't become clients yet, and I said, listen, whoever you're paying to help you with your money, and you're paying someone, right? Whether you have a financial adviser, whether you have a broker, whether you went directly to a company, whether your money is sitting just in the bank, somebody is getting paid for that money to be positioned there. Even if you have it in a checking account, if you think about it, you put it in the checking account, you're making next to no interest. You know the bank is lending that money out. So they're getting paid on it. Whoever is helping you with your money, they should be proactively reaching out to you, not you reaching out to them saying, what do we do? They should be reaching out to you saying, this is what I think is the best strategy. And that's what we do with our clients. So Roth conversions are part of the conversation and today's show is just around that. But I think everyone should look at the big picture of what's the best strategy for them. Because it might not be, hey, let's try and Roth convert all of this money. And there's some people out there who are saying, well, let's get it all into Roth IRA. Well, that might not make sense because maybe it makes sense to do half of your money over a long period of time. So when you do hit required distribution, you're dropping yourself into a lower tax bracket anyway because you don't have as much traditional IRA money at that point. So again, not to say that Roth is the be all and end all, but it's a really good strategy in the right situation for clients. And when we do our all hands analysis, we see if it makes sense to do that. Because some people are hitting right up at the limit of their 12% tax bracket and we don't necessarily want a Roth convert because the next tax bracket is 22%. But we also talk to people a lot about your married filing jointly. You've got a traditional IRA. Maybe you've got a great pension, a couple of really good social security. And you don't really think you need any distributions from the Roth. So you're just going to wait? Well, unfortunately, over time and having done this job for a long time, 25 years plus. Sadly, clients pass away. And when somebody passes away in a couple, the survivor is a left without their spouse, which is tragic B generally the lower social security drops away and see, now there are single finer. So there are single filer different tax rates for a single fighter than a married couple filing jointly. And they're left in a situation that if they're over 72, they have to take money out of these accounts, now they're paying higher taxes, potentially on that. So getting ahead of it leaves you or your spouse in a much more comfortable tax efficient situation. If you have particular questions that have been gnawing at you and if anything that we're talking about today raises a question in your mind and you'd like a quick answer and perhaps more in depth answers after that, you can start the process with a 15 minute no obligation strategy call to south your retirement services again. Set it up on the very easy to figure out calendar grid at retire social dot com on the phone from home a very quick opportunity and a very important one to get those questions answered the 15 minute no obligation strategy calls set it up, go to retire at south shore dot com. I guess in summary and we still have a ways to go here. In summary, the answer to the often heard question, am I going to be okay in retirement, especially now, especially during these times? Am I going to be okay? It's a very vulnerable time for a lot of folks and it's psychologically very difficult for most people to not work anymore, right? They've done something for 30 years, 40, 50 hours a week, all of a sudden they have a party, a cake, somebody gives them a gold watch, maybe. And on a Monday they're retired. And that's a very difficult mental shift for folks. So to add the stress of amygdala have enough money, am I going to be okay? Can be overwhelming for a lot of people. And maybe over the last ten, 12 years with the exception of the last two years, because the market has such an incredible run, people aren't that worried about it. They're like, oh, I'm just making money hand over fist. I have clients that were working with us and coming into us that were making more money in their investment accounts than they were in their salaries. But times are different now. You know, things have changed in the world. And I think things will continue to change my opinion. I don't think we've seen the bottom of this. That's nerve wracking for folks who are essentially going into what they would call a fixed income, fixed incomes are a little bit different than what they used to be where I told you my dad worked for this, which I know sounds stereotypical of an Irish person, but the Irish social security and a pension plan. And there wasn't really a lot of choices, but now there's so many choices to so many different financial instruments that you could potentially use. And I think up until recently, the financial world has done a really bad job. This is my opinion in educating people on how to spend their money. It's starting to evolve now because I think they realize they have to move in that direction because there's so many people who are actually starting to use the money. This is how we've always counseled people in a non sexy way. It doesn't, it's not doubling and tripling your money. It's how are you going to be okay? How are you going to make sure that you have enough money? And how we do things like that is stress testing people's accounts, stress testing their portfolios, looking at all of the what if scenarios. What happens if you lose money for three years, how would that impact you? What happens if inflation is 7 and a half percent for the next 9 years? I know it's more than that now. But what happens if that happens? What happens if somebody gets sick? What happens if somebody passes away? Do you have the ability to ride that storm through? And utilizing for a portion of it, Roth IRA, getting rid of the taxes and having a bunch of tax free money, it doesn't matter where it's invested. It's just tax free. That can also add to the bottom line. I think it's obviously really important to make money with your money, even in retirement, but it's equally as important to navigate the tax code because that's making money as well. I mean, missing opportunities and saying, gosh, I wish I'd done that. That's unnecessary if you have the right people helping you. That is, that is the ultimate expression should have could have. You don't want to be in that situation. And you don't think the point is you don't have to be. And we've said this time and time again, everyone has an estate. Everyone has something that they can use in their later years. They've worked for it. And don't sell yourself short and don't whatever you do, wait to the last minute. And that's easy for a procrastinator like me to say. But seriously, don't wait, get it done today. And to breathe easier tomorrow. Couldn't agree with you more. I mean, I think there's a lot of people who listen to the show and we've had people call the office and they're like, I don't know if I want to make any changes because of the way the market is right now. But you don't have to make any changes. You can still build a strategy and I think I had mentioned a couple of minutes ago where if the market is down and you've lost money on your account, it doesn't mean that your account is bad. It just means the market is down. Look for an opportunity. Look for something that you can do when the market is not performing and not making money. Nobody cares about, I shouldn't say nobody cares, but people, when they're making money, they're not as concerned about things. But when they're losing money, they're always looking for what should I be doing? And I don't mean find the next great thing that's bottomed out that's going to make you a ton of money when you put it in there. But if you have IRA money, maybe it's a smart time to start paying taxes on some of that money while the accounts are depressed. You don't have to sell the holdings to re characterize

Roth
"roth" Discussed on Retire South Shore Radio

Retire South Shore Radio

08:06 min | 2 months ago

"roth" Discussed on Retire South Shore Radio

"Tax increase. So a lot of people are kind of wisely looking at trying to optimize what they have now, meaning that optimized low tax rates that are out there right now and what to do and not that this is the greatest thing since sliced bread. But in the right situation, the proper use of a Roth IRA, which I want to talk about a bit today. Can have a really big impact on what you're going to put in your pocket ultimately. We're going to talk about the Roth in various aspects. All I can say is kudos to the government for putting it into place when they did many, many years ago, because it has been an outstanding vehicle, but it does have many, many uses. And there are many questions that our listeners have about converting and about required minimum distributions, things like that. So we're going to do a primer. Don't worry, folks. Nothing that will make your hair hurt. Mark is very clear and concise. But give us your sense of where we are with Roth and let's do the interview. I want to talk about the basics and then maybe go into a little bit more slightly more complicated ways of utilizing the current tax codes that we have and you know and we say this at the beginning, middle end of every show I can't give tax advice. We just build tax strategies for folks and we can quarterback with their CPAs or we can have our CPAs help them actually do the filings if they want. But I want to talk about ways of utilizing these accounts where you're still able to avoid any penalties that you potentially could withdraw the money right away if you want to. And what to do if you inherit a Roth IRA, the rules around that because that's a little bit foggy as well. And I thought, if we start with the basics, right? I mean, understanding the difference between a traditional IRA and a Roth IRA, what the two of them are. And very simply a traditional IRA is an account that you can put money into to a certain limit and you get a tax deduction for the money going in. The money then grows tax deferred, so any growth in it is not taxed on an annual basis. It's taxed when you pull the money out. And there's certain government rules around Roth they are excuse me around traditional IRAs, where you have to be 59 and a half to take money out of it with one exception of using certain tax code. And you have to start taking money out of it at 72. There's a Roth IRA is different. A Roth IRA, when you put money into the plan, you don't get a tax deduction. It's after-tax money you're putting into the plan, it grows tax deferred, and then when you take the money out, the money that you put in and the gain assuming that you hit this magical 5 year rule is tax free. You'll never pay tax on that money when you make distributions if you follow those rules, which I'm going to talk about today. Yeah, we'll get into more detail when that occurs. But the people you deal with on a regular basis clients and people who have inquiries, so many of us have these vehicles. I mean, it's a very popular savings device, isn't it? Yeah, yeah. I mean, I think it's probably one of the best rappers around any sort of investment. Doesn't matter what you put the money into, whether it's a CD and annuity, a mutual fund a stock. It doesn't matter. It's the wrapper around it. It's the tax qualification being Roth, where that growth inside of that account, again, once you stick within the guidelines of the rules, the growth inside of it is tax free to you when you distribute it, which is really nice for a lot of people because if you think about it, taxes are very low right now. I think we're all in agreement on that. The highest marginal tax bracket is 37%, which is probably as low as it's been in about 15 years. So taking the tax deduction now might not make sense. So using a Roth IRA, getting the taxes done, putting that money into that account, and then when you do need to take the money out, it doesn't really matter what the taxes are doing at that stage of taxes are twice as much as they are now. You're not paying any tax on the distribution. However, there is some significant limitations to Roth IRAs in that you could only put a certain amount of money in. You know, around $6000 and if you're over a certain age, you can do a catch up at $7000 total, you can put into it. They are talking about increasing that, but they've not done it yet. And once you start earning over a certain amount of money, then you not allowed to contribute to a Roth IRA. And then once you retire, which a lot of our clients are retired and they don't have any earned income, you can not contribute to your Roth IRA. So those are the limitations. However, there are ways and tax codes that former president George W put in place that allow you to re characterize some of your existing IRA money, which we do a lot with our clients and re characterize it to a Roth IRA and there aren't limitations on that currently. You're listening to retire south shore radio. I want to remind you it's easy to arrange. It's a quick way to get information, and it offers help to questions you've been having and particularly questions about where we are right now. It's the 15 minute no obligation strategy call, easy to set up, go to retire south, shore dot com and you do yourself a favor by taking advantage of this opportunity. So let's get into more of the depth and detail here. You talked about withdrawals of money 59 and a half and some of the limitations and so forth. But most people in retirement age were going to say post 59 maybe post 65. We see the 70s looming and that's an important age bracket for this kind of withdrawal information. Give us a bit more detail. Yeah, so most of our clients are over 59 and a half. We have a we do have a number of clients that are not 59 and a half. So once you hit 59 and a half, you can make distributions from a Roth IRA and there's no penalties associated with it if you hit that rule. The 5 year rule, there's no tax on the gain. When you get to that 72 age that you were just alluding to, the required minimum distribution age, though there is no required minimum distribution from a Roth IRA. You don't have to take the money out. So a lot of our clients, they want to leave money to their to their children or their grandchildren, but they're not a 100% sure if they're going to need the money themselves. So it's a wait and see approach of leaving a legacy, right? You may need the money. And if you need it, it's sitting there in your name, and you can distribute a tax free. If you don't need the money, you can leave it to the next generation. And that will also get a tax free, and I'll elaboration on that in a minute as to how they could structure their Roth IRA as an inherited Roth IRA. But I want to talk about the 5 year rule just to clarify this. So there's a couple of 5 year rules that apply to Roth IRAs. There's a contributing 5 year rule, and there's a converting 5 year rule. And I'll get into more detail on what conversions are in the second book. The contributing 5 year rule is it's 5 years from the point in time that you started contributing to a Roth IRA if you're making contributions into it. Conversions when you re characterizing some of your traditional IRA to a Roth IRA, it's 5 years from each time that you make a conversion. So essentially how Roth's work when you take distributions from them is its contributions first, conversion second gains third. And for a lot of our clients when they're doing the conversions at first blush they're like, well, what if I need the money immediately? Well, what you're over 59 and a half, you can take that money immediately. And quite honestly, if you needed the money immediately, you wouldn't be doing Roth conversions. You'd be taking the distribution to spend it, right? Right. So it works fine for most of the people that we talk to. And I don't mean, like I said, a minute ago, this is not the be all and end all and every single person should do this. You should seek advice. You should sit down and figure out what the best strategy is for you. This is just one concept that works quite well. If it fits in your overall retirement, which leads to the very oft used phrase balanced portfolio, planning ahead and building your future anytime you want to think about diversifying and having things in different places, perhaps

Roth Mark George W
 Officer won’t face any charges in Rayshard Brooks shooting

AP News Radio

00:37 sec | 3 months ago

Officer won’t face any charges in Rayshard Brooks shooting

"And Atlanta police officer who fatally shot a black man won't be charged The specially appointed prosecutor says he won't pursue charges against officer Garrett Roth the white officer who shot and killed 27 year old Richard Brooks in June 2020 or officer Devin Brosnan Pete scanda lack has says the officers were in what he calls a dynamic situation in which he concluded it was reasonable for off to use deadly force Roth and brosman responded to complaints of a man sleeping in the drive-through lane at a Wendy's restaurant After talking to Brooks for

Garrett Roth Devin Brosnan Pete Scanda Richard Brooks Atlanta Brosman Roth Wendy's Restaurant Brooks
What Gun Laws Actually Exist? The Answer May Surprise You

The Doug Collins Podcast

01:36 min | 6 months ago

What Gun Laws Actually Exist? The Answer May Surprise You

"The things is if you're going to go out and make laws, then let's discuss what laws are actually out there and what actually is frankly if you have to take it by the assumption of these shootings are not working. Here's things that federal law currently prohibit. Just a little bit of what currently transferring on the firearm to anyone known or believed to be prohibited from possessing a firearm. So if you're even if you're not sure, but you believe that they're not supposed to own a firearm, it's illegal to make that transfer. Anyone without a federal firearms license and FFL from acquiring a handgun outside their state of residence. So in essence, if you do not have an FFL, you can not go from Georgia and go buy a gun in Tennessee. You can't go that's something that you can is already a problem here. Anyone with an FFL acquiring a Roth was shotgun from someone without an FFL outside their state of reference. So you can't go the buying and selling stuff. Individuals from transferring a gun across state lines to someone without a firearms license. Anyone from acquiring firearms on behalf of another person who is prohibited from a possessing firearms. Anyone providing a handgun to a juvenile. Dealers from selling raffles are shotguns to individuals under age of 18. You can't sell also pistols to those under 21. Many times the left wall to promote and gun control folks want to say 97% of Americans favor supporting gun control, except when it's actually put on the ballot. When it was actually put on the ballot, in Maine, it was failed outright completely.

Roth Tennessee Georgia Maine
HRW: Democracy must step up as autocrats face turning point

AP News Radio

00:59 sec | 11 months ago

HRW: Democracy must step up as autocrats face turning point

"A a leading leading human human rights rights activist activist says says autocrats autocrats of of facing facing the the turning turning points points the the executive executive director director of of Human Human Rights Rights Watch Watch Kenneth Kenneth Roth Roth says says autocratic autocratic rule rule is is not not on on the the rise rise as as many many people people may may believe believe instead instead Roth Roth believes believes many many desperate desperate need need is is showing showing signs signs of of desperation desperation one one such such example example is is how how many many need need this this hold hold what what he he called called zombie zombie election election some some people people say say oh oh that's that's just just you you know know the the autocrat autocrat be be strong strong in in fact fact it's it's an an act act of of desperation desperation because because these these autocrats autocrats no no longer longer trust trust the the public public to to both both of of them them even even in in a a minute minute related related lecture lecture however however that that the the human human rights rights chief chief noted noted that that to to take take advantage advantage of of that that weakness weakness democratic democratic leaders leaders will will have have to to step step up up their their game game there's there's a a need need for for visionary visionary leadership leadership shoot shoot above above the the magnitude magnitude required required to to address address the the problems problems of of today today Roth Roth criticized criticized many many western western governments governments such such as as Germany Germany he he pointed pointed out out that that the the country country permitted permitted an an investment investment deal deal with with China China even even as as Berlin Berlin condemned condemned China's China's mistreatment mistreatment of of the the week week as as as as a a crime crime against against humanity humanity I'm I'm Karen Karen Thomas Thomas

Roth Roth Kenneth Kenneth Roth Roth Human Human Rights Rights Germany China Berlin Karen Karen Thomas Thomas
Brazen Looting Takes Place at NYC Clothing Store -- Are Progressive Policies to Blame?

Mike Gallagher Podcast

02:11 min | 11 months ago

Brazen Looting Takes Place at NYC Clothing Store -- Are Progressive Policies to Blame?

"Stop. Let me share a personal story about coming to New York City a week or so ago. After I've got rid of COVID and finish through that and a couple of days after Christmas came to New York, a friend of mine was telling me a New York story. He was up by Union Square and witnessed 7 guys running out of a clothing store called Roth's rothman's men's clothing. On Union Square. Big men's clothing store here in New York City. And 7 guys, he counted them, running out of the store, bursting out of the store with their arms loaded with jeans and shirts and coats. They just ransacked the place, broad daylight, middle of the day, probably thousands and thousands of dollars worth of merchandise. And people just look at them. And they ran down the street and got away, presumably. Larry elder. My friend and colleague was talking to Pete hegseth. This past Thursday on Fox News. Because these crimes were seen all over America. Are directly and deliberately a result of progressive policies in cities like New York. Los Angeles, Chicago. Listen to the way Larry laid this out with Pete hegseth on Fox News. And you have laws out here in California like proposition 57 that have reclassified all sorts of groups of crimes as nonviolent and they include but are not limited to serial arson, nonviolent crime, assault on the police officer, nonviolent crime, aggravated assault, nonviolent crime, domestic felony battery, nonviolent crime, rape of an intoxicated victim, nonviolent crime, as a result, people are not being held for the time. They ought to be held and they're out in the streets when they are not be out in the streets. And as usual, the sage is right. He's absolutely right. But that's why people are ransacking stores and committing crimes and not being held accountable.

Pete Hegseth Union Square New York City New York Rothman Fox News Larry Elder Roth Larry Los Angeles Chicago America California
Snow moves into mid-Atlantic; federal offices closed in DC

AP News Radio

00:47 sec | 11 months ago

Snow moves into mid-Atlantic; federal offices closed in DC

"A a winter winter storm storm is is blowing blowing into into the the nation's nation's capital capital shutting shutting down down the the federal federal government government and and the the many many schools schools after after twenty twenty twenty twenty one one ended ended with with spring spring like like temperatures temperatures parts parts of of the the east east coast coast are are seeing seeing snow snow and and maybe maybe lots lots or or junior junior Maryland Maryland Delaware Delaware and and southern southern New New Jersey Jersey there there could could be be snow snow totals totals of of our our national national weather weather service's service's David David Roth Roth says says ten ten inches inches could could fall fall here here in in Washington Washington where where federal federal offices offices are are closed closed the the wimps wimps Louise Louise who who been been teleworking teleworking through through the the pandemic pandemic are are still still expected expected on on the the job job the the storm storm is is also also forced forced many many coded coded nineteen nineteen testing testing and and vaccination vaccination sites sites in in Maryland Maryland and and Virginia Virginia to to close close further further south south hundreds hundreds of of thousands thousands of of customers customers remained remained without without power power after after the the snow snow started started last last night night Sager Sager made made Ghani Ghani Washington Washington

Federal Federal Government Gov East East Coast Coast Maryland New New Jersey Jersey David David Roth Roth Delaware Louise Louise Washington Virginia Sager Sager Ghani Ghani Washington Washing
Snow storms and pandemic ground flights, delay holiday's end

AP News Radio

00:50 sec | 11 months ago

Snow storms and pandemic ground flights, delay holiday's end

"I'm I'm Julie Julie Walker Walker the the severe severe weather weather is is dealing dealing a a blow blow to to airlines airlines and and travelers travelers already already hit hit by by covert covert related related staffing staffing issues issues storms storms in in the the Deep Deep South South moving moving up up the the east east coast coast this this morning morning forecast forecast to to deliver deliver two two to to ten ten inches inches of of snow snow from from Virginia Virginia to to Massachusetts Massachusetts says says meteorologist meteorologist David David Roth Roth with with the the metro metro DC DC area area hit hit the the hardest hardest who who who who who who our our over over the the weekend weekend snow snow in in the the Midwest Midwest piled piled on on to to covert covert related related staff staff shortages shortages forcing forcing more more than than fifty fifty four four hundred hundred U. U. S. S. flight flight cancellations cancellations according according to to flight flight aware aware already already this this morning morning there there were were more more than than seventeen seventeen hundred hundred making making air air travel travel right right now now an an exercise exercise in in frustration frustration and and travel travel industry industry analyst analyst Henry Henry Harteveldt Harteveldt says says no no one one knows knows how how long long it it will will take take airlines airlines to to recover recover because because it's it's a a function function of of the the virus virus I'm I'm Julie Julie Walker Walker

Julie Julie Walker Walker Deep Deep South South East East Coast Coast David David Roth Roth Massachusetts Virginia Midwest Henry Henry Harteveldt Harteve
'Sports & Entertainment News Compilation' (#4) ft. The Ball & Buds All-Stars (Ball & Buds Podcast Episode #30)

Ball

05:00 min | 1 year ago

'Sports & Entertainment News Compilation' (#4) ft. The Ball & Buds All-Stars (Ball & Buds Podcast Episode #30)

"Obviously i lost but it was a huge huge matchup between me and you know. Cluber de the com- badge was able to take me out this weekend. Anti whoa. Whoa whoa kind of music. Quite let me clear my throat. He a relief. Rake and if you don't like that i'm breaking your mom's off later hold on. Oh yes i've beat you. I took you out just like your mom. Took me out and she paid. why why. Why slow down slow down. Did you say fan simple. 'cause you know cluber dis all over the place. I love fantasy football and ask some shits. I can't stand about things football sometimes. Okay i got some things to get off my chest. And i'm not talking about your mother. Yes she likes that too anyways. Now when it comes to football common sense and the knowing that it's fantasy football people need to understand that it's fantasy football all right. Don't complicate it all right commissioners. I'm a commissioner and my league. i'm in other leagues. Where people trays to equal. I asked my does day. Oh i would trade. i'm a trade receivable for receiver. Why five would you trade a receiver for receiver in the words. Jim cornet. Why are you going to put a hat on a hat. Does that make sense unless the person you're trading for you might get double points with the core back you have other than that. There is no point. There's no reason to trade or allow a train to go through four position for position. You're not gonna trade a receiver four receiver. Why would i trade for michael thomas. What i had jerry. Judy does that make sense. I have somebody say well. You know. I like to let those trade go by because you know maybe that person he's a means a new scenery just is fantasy football. It's not real. It doesn't matter if they're on another team. It's the same damn thing it's a receiver. You already have a receiver. Why trading for receiver. You know what clobbered easy little angry they. Mcconnell dowell calmed down just to stupidity. I get with this all the time. You're putting a hats on a hat another thing. Don't trade to people for one. I can't adjust my roth or to add that. Extra person that i should be getting points for trade away Points for one person that don't make sense. They need to be equal to one from one. No three people for one person. No two people for one person. What are you doing. It makes says come on people get better than add on a ahead. Jim cornets fez. Only tom put a hat on a hat. It's going in hot in your mother okay. It could be the red cafe down there. I might get humphrey who cares. So what judge away. Oh god no god please. But why people facing football. It's easy okay. If you wanna better your team better at at a different position if you already have good receivers or decent receivers you don't need a trade for another you trade for running back you train for a high quality tied in you do something of that nature. You don't trade to upgrade the same same can you know it. Let me come down. let me see. Oh this is what happens by spider cisco talking about football i need inject because the combat g. is always in a place to be and what we're talking about fancy free. Oh ask them out because she knows where i'd be would these bars. I tell you you know what i'm saying. It's the free back in the day. Me the guy to kane rockingham. You know what i'm saying. All the people your mom. Your mom listened to the freaked out with them. But that's another story here nor there. Yeah listen that's cool mother fucking barge nick. Can you know nothing but football

Pop Culture Movies Music Entertainment Sports Football Jim Cornet Mcconnell Dowell Michael Thomas Jim Cornets Judy Jerry Humphrey TOM Kane Rockingham Cisco Nick
'Sports & Entertainment News Compilation' (#4) ft. The Ball & Buds All-Stars (Ball & Buds Podcast Episode #30)

Ball

04:20 min | 1 year ago

'Sports & Entertainment News Compilation' (#4) ft. The Ball & Buds All-Stars (Ball & Buds Podcast Episode #30)

"I wanted to hit on fantasy football. Because i have had a great year. This far i was five. I know i've lost the past two weeks pretty upset about but it's okay still in second place. I actually had a primetime matchup. This past weekend was the first and second place teams. I was five and one. We had a six team. We played against each other. Obviously i lost but it was a huge huge matchup between me and you know. Cluber de the com- badge was able to take me out this weekend. Anti whoa. Whoa whoa kind of music. Quite let me clear my throat. He a relief. Rake and if you don't like that i'm breaking your mom's off later hold on. Oh yes i've beat you. I took you out just like your mom. Took me out and she paid. why why. Why slow down slow down. Did you say fan simple. 'cause you know cluber dis all over the place. I love fantasy football and ask some shits. I can't stand about things football sometimes. Okay i got some things to get off my chest. And i'm not talking about your mother. Yes she likes that too anyways. Now when it comes to football common sense and the knowing that it's fantasy football people need to understand that it's fantasy football all right. Don't complicate it all right commissioners. I'm a commissioner and my league. i'm in other leagues. Where people trays to equal. I asked my does day. Oh i would trade. i'm a trade receivable for receiver. Why five would you trade a receiver for receiver in the words. Jim cornet. Why are you going to put a hat on a hat. Does that make sense unless the person you're trading for you might get double points with the core back you have other than that. There is no point. There's no reason to trade or allow a train to go through four position for position. You're not gonna trade a receiver four receiver. Why would i trade for michael thomas. What i had jerry. Judy does that make sense. I have somebody say well. You know. I like to let those trade go by because you know maybe that person he's a means a new scenery just is fantasy football. It's not real. It doesn't matter if they're on another team. It's the same damn thing it's a receiver. You already have a receiver. Why trading for receiver. You know what clobbered easy little angry they. Mcconnell dowell calmed down just to stupidity. I get with this all the time. You're putting a hats on a hat another thing. Don't trade to people for one. I can't adjust my roth or to add that. Extra person that i should be getting points for trade away Points for one person that don't make sense. They need to be equal to one from one. No three people for one person. No two people for one person. What are you doing. It makes says come on people get better than add on a ahead. Jim cornets fez. Only tom put a hat on a hat. It's going in hot in your mother okay. It could be the red cafe down there. I might get humphrey who cares. So what judge away. Oh god no

Pop Culture Movies Music Entertainment Sports Football Jim Cornet Michael Thomas Mcconnell Dowell Judy Jerry Jim Cornets TOM Humphrey
'Sports & Entertainment News Compilation (#4)' ft. The Ball & Buds All-Stars (Ball & Buds Podcast Episode #30)

Ball

04:20 min | 1 year ago

'Sports & Entertainment News Compilation (#4)' ft. The Ball & Buds All-Stars (Ball & Buds Podcast Episode #30)

"I wanted to hit on fantasy football. Because i have had a great year. This far i was five. I know i've lost the past two weeks pretty upset about but it's okay still in second place. I actually had a primetime matchup. This past weekend was the first and second place teams. I was five and one. We had a six team. We played against each other. Obviously i lost but it was a huge huge matchup between me and you know. Cluber de the com- badge was able to take me out this weekend. Anti whoa. Whoa whoa kind of music. Quite let me clear my throat. He a relief. Rake and if you don't like that i'm breaking your mom's off later hold on. Oh yes i've beat you. I took you out just like your mom. Took me out and she paid. why why. Why slow down slow down. Did you say fan simple. 'cause you know cluber dis all over the place. I love fantasy football and ask some shits. I can't stand about things football sometimes. Okay i got some things to get off my chest. And i'm not talking about your mother. Yes she likes that too anyways. Now when it comes to football common sense and the knowing that it's fantasy football people need to understand that it's fantasy football all right. Don't complicate it all right commissioners. I'm a commissioner and my league. i'm in other leagues. Where people trays to equal. I asked my does day. Oh i would trade. i'm a trade receivable for receiver. Why five would you trade a receiver for receiver in the words. Jim cornet. Why are you going to put a hat on a hat. Does that make sense unless the person you're trading for you might get double points with the core back you have other than that. There is no point. There's no reason to trade or allow a train to go through four position for position. You're not gonna trade a receiver four receiver. Why would i trade for michael thomas. What i had jerry. Judy does that make sense. I have somebody say well. You know. I like to let those trade go by because you know maybe that person he's a means a new scenery just is fantasy football. It's not real. It doesn't matter if they're on another team. It's the same damn thing it's a receiver. You already have a receiver. Why trading for receiver. You know what clobbered easy little angry they. Mcconnell dowell calmed down just to stupidity. I get with this all the time. You're putting a hats on a hat another thing. Don't trade to people for one. I can't adjust my roth or to add that. Extra person that i should be getting points for trade away Points for one person that don't make sense. They need to be equal to one from one. No three people for one person. No two people for one person. What are you doing. It makes says come on people get better than add on a ahead. Jim cornets fez. Only tom put a hat on a hat. It's going in hot in your mother okay. It could be the red cafe down there. I might get humphrey who cares. So what judge away. Oh god no

Pop Culture Movies Music Entertainment Sports Football Jim Cornet Michael Thomas Mcconnell Dowell Judy Jerry Jim Cornets TOM Humphrey
"roth" Discussed on Money Rehab with Nicole Lapin

Money Rehab with Nicole Lapin

07:57 min | 1 year ago

"roth" Discussed on Money Rehab with Nicole Lapin

"Money charge for wasting our time. I will take a shot. You recognize her. Anchoring on cnn cnbc and bloomberg the only financial expert. You don't need a dictionary to understand the cold lap in a couple of weeks ago. I had money rehab or katryn on the show for a listener intervention. you remember. She was worried that she had over contributed to her roth. Ira because of an unexpected bump in her earnings this year one topic hatred and i covered that we didn't have time to put in the final episode. Was a conversation about a pro move to open a roth. Ira even if you don't qualify for one. Here's a behind the scenes clip from that conversation. When they wanted to tell you in the beginning was how you can indirectly invest in a roth. Ira do you know about this. Is this the back door roth. Ira okay here's my knowledge. Goes i know it exists. But i don't know how to bridget and do you know anything else about it. Just that it's champagne problem where people who shouldn't or can't be investing in traditional roth. Ira's can use this to invest in a roth ira so what the fuck is a backdoor roth. Ira it sounds like it would be a retirement account run by the mob. One where you make your contribution in some tony. Soprano like figure makes your taxes disappear while the name. Sounds sketchy a back door roth. Ira is a totally legit legal way to get into the roth ira game. Even if you don't qualify as we've mentioned before the big benefit of a roth ira is that you pay taxes on your contributions when you contribute and then today die. You're denzo with taxes. You don't need to think about the big t word ever again at least with a roth. So if you think you'll be in a larger tax bracket dumb line which if you keep listening to money rehab obviously you will be then roth. Ira's or great option for you. Plus taxes will probably go up across the board in the future so when you get the option to either pay taxes now or stick it to your future self usua- pony up now fun. It's not quite that easy in two thousand twenty one you are eligible for a roth. Ira if you make less than one hundred twenty five thousand dollars a year as a single unmarried no ring on it person if you make more than that first of all ua good for you. You're raking it in. But second of all the bad news or at least as bad as bad news is when you're making six figures you can't set up a roth. Ira or so you may think one way to get around this eligibility role. Is you guessed it through the back door setting up a backdoor roth ira or flake this. You create a traditional ira which has no income limits. You can sign up. No matter how much you make. Then you convert traditional ira into a roth ira which actually isn't as tricky as it sounds. You basically just need to sign some paperwork. Whatever institution you used. Sign up for your traditional. Ira can likely help you with that. However here are some words of caution. This move comes with taxes galore. There is a chance you will be taxed on this money now once not twice but three times. If you do this back door move you'll need to pay. What are called conversion taxes before starting this process you should estimate how much you'd pay in conversion taxes and ask yourself self. Do i have enough money in my bank account to come for late. Cover those taxes. You may be thinking silly nicole. I'll just take the money out of my ira to pay these taxes. No no year silly. That is a bad idea if you're younger than fifty nine and a half you'll face a penalty for taking the money out of your ira early. Plus the money you take out could be taxed yet again. Taxation around number two the amount you choose to convert from your traditional ira will be counted and taxed as income therefore if you're teetering on the upper limit of your tax bracket as is having your converted ira money count towards your income may push you into yet a higher tax bracket if you decide to opt for a back door roth ira choosing amount to roll over. That will not push you into a higher tax bracket. This is a totally fair. Move you don't need to roll over everything in your traditional ira into a new roth ira account after all. Why have one ira when you could have to taxation round number three if you've earned money on investments within the traditional ira. You'll need to pay cap gains taxes on the interest earned. Yep that is a triple whammy. Here's today's tip. You can take straight to the bank one last disclaimer on back door roth. Ira's once you've rolled over your traditional ira into a roth. Ira really can't touch the money for the next five years. If you take money out earlier than that you have to deal with. You guessed it more taxes. Loss fatty ten percent penalty in general. If you aren't eligible for a front door roth. Ira and you can pay the taxes and make the five-year freeze work. Then i recommend you take a closer look and even go for the back door roth. Ira but if you're thinking you'll need to pull money out of your ira within the next five years. You should definitely keep the back door. Closed this money. Rehab is a production of iheart radio. i'm your host nicole. Lapin our producers are morgan lavoix. And my cost rally. Executive producers are nikki tour and will pearson are mascots are penny and mindy huge thanks you. Og money rehab team. Michelle lands for her development. Work catherine law for production and writing magic and brandon dicker for his editing engineering and sound design. And as always thanks to you for finally investing in yourself so that you can get it together and get it all. We're all better off with an ally that's why ally invest is committed to providing you with actionable market insights and information from investing pros to help you invest with confidence from the basic principles of investing to exploring advanced strategies and everything in between ally invest covers. It all so you can make the most of your investments head over to ally dot com slash market insights to sign up for weekly market insights from chief. Investment strategist lindsey bell. That's a. l. l. y. dot com slash market i. n. s. i g. h. t. s. Millions of americans are getting back to work. Careerbuilder calls it the great rehire and we want to help you get the best jobs before everyone else. Careerbuilder gives you the competitive edge to get the job you want at the salary you want with the benefits. Yuan's we even sent job alerts. So you're perfect job lens right in your inbox go to careerbuilder dot com. Today or get left with whatever. Jobs are left. Find your next job fast. At careerbuilder dot com careerbuilder is made for people. Who have that thing you know those superpowers that make you good at your job. The skills you bring to work and careerbuilder knows those skills make you write for other jobs to higher paying jobs with benefits jobs. You never thought of trying. Are you a people person. Work from home as a customer service rep. Are you and like driving become a delivery driver. You have the skills it takes and careerbuilder dot com. Has the jobs to get. You hired fast. Visit careerbuilder dot com..

roth Ira cnbc bloomberg bridget Soprano cnn nicole tony morgan lavoix nikki tour will pearson brandon dicker Lapin lindsey bell Careerbuilder mindy
"roth" Discussed on KGO 810

KGO 810

05:26 min | 1 year ago

"roth" Discussed on KGO 810

"I have to tell you that I do have an old fidelity IRA account and I also have a traditional and Roth account balance on that account So I didn't know if because of that broth I can open up another one with the TSP And I didn't know if that was going to be a problem later on Okay so you've got a traditional IRA you have a Roth IRA and you're a federal employee and you have a TSP Now for those who are not familiar the TSP is basically the federal employee version of their employer workplace 401k So right now you said Tom you're putting money into the traditional component of the TSP which means it's pre-tax Correct So what's happening is let's say you make a $100,000 a year You put $10,000 a year into your TSP or traditional TSP And so on your tax forms it shows that you really only made 90,000 because that 10,000 was taken out pre-tax and put over there into your traditional TSP account Now in however many years when you decide to retire you're going to have to pay tax on that money that you take out So Tom a couple things that I would need to know in order to think about whether or not that Roth 401k or TSP in this case makes sense But I'll start out with having the Roth IRA and traditional IRA already outside of the TSP doesn't impact your ability to add to a Roth 401k or in your case TSP So if your employer offers it not only can you participate in it but there are not the same income limits as there would be for traditional Roth IRA and well I'm getting confusing here because it's not a traditional It's a Roth but the normal IRA Roth contributions So you have the ability to if you happen to be a high income earner to make contributions to a Roth within your TSP that you would not otherwise be able to make in your IRA But it doesn't in and of itself interfere with your ability to do the Roth TSP Now the bigger question though is should you do it So tell me Tom a little bit more about your demographic here What your income range and how much you're putting in and how long you have until you're going to be using the money Okay My salary is it varies It's about a 140 to a 150,000 a year And I'm going to retire in about 7 to 8 years And do you need to know that fidelity balance No that really doesn't play a role because those are really completely separate In theory right Because you've already made those contributions now those accounts are just there to grow And to use in 7 or 8 years or whenever you decide that you're ready to use them most of the time people use them when they're retiring but maybe it's later than that or maybe it's before who knows So if we're talking about the TSP here you make a range of a 140 to a 150 you're gonna retire in 7 or 8 years how much are you contributing to your traditional TSP right now or traditional 401k for those who have a 401k Okay Now I contribute about 10% from my salary to the TSP Okay so that means you are adding somewhere around 14 to $15,000 a year and that is coming off of your income pre tax Are you married Yes I'm married Okay did your wife work Yes She also works for the government too Same income range as you A little bit less about a 110 110 but between the two of you you're closing in on close to $300,000 of income So you're in what I would call a high tax bracket So you are well over the average You are in a higher tax bracket type category Meaning you could use tax breaks right If you're in a high tax bracket now before retirement adding money to that traditional TSP means you're taking that money off of your tax return now You're not paying taxes on it And you're getting a deduction in fact for putting that money in Now it's already deducted off of your paycheck so you're not taking another deduction for it but you're in essence It's reducing your income So you're not paying your top tax bracket on that money that you're putting in you and your wife theoretically and hopefully she's putting in money too So in your case what the question would have to be is is there a benefit in paying the taxes now by adding some money to the Roth so that you can not pay taxes later So when you retire is your tax bracket going to be the same or higher than it is now I anticipate I think because of my pension social security and I guess the proceeds of the TSP taking that out I think we're going to be higher actually I think we're actually going to make more money in retirement than we currently do Wow That's a pretty good place to be Well yeah I guess that is at the crux of it The Roth IRA.

Tom Roth TSP
"roth" Discussed on The Money Guy Show

The Money Guy Show

03:06 min | 1 year ago

"roth" Discussed on The Money Guy Show

"So when he's saying is a maximum rothen. Amassing our hsa. And i'm hitting twenty five. Can i just jump straight to step number eight or should i put something in my 401k. This is why. I love the financial order of operations. It really does try to account for all scenarios that come your way and now this is the free deliverable does a great job because you can. Actually we don't hide it. We just tell you what the non steps are. But this is one of those questions. Bruce where you probably need a little more into the weeds of the full course because if you go to learn dot money got dot com. We actually have a full course on this. This is where we differentiate. Now go ahead and share with you. How this plays out. He mentioned something very key talked about step eight but we also know what's in play here is step two because we got an employer plan. We know that he's talking about roth in hsa's and then we all also know step six. Is max our retirement. So how do we get here. So let's just kind of walk through. His employer plan doesn't offer a match will step two is employer match so it. There's cerro the employer match then we can move on. And if i'm assuming based upon this question there's no high interest debt so we go to step four. I'm assuming his emergency reserves in a great place because he's already asking. Hey i'm saving twenty five percent of my income but twenty-five percent because my incomes at thirty five thousand dollars a year is fulfilled with just my roth and my hsa. So that is. He's already hit hyper accumulation. So he's already since he's already hit hyper accumulation of saving twenty five percent of his gross income. He kind of look if he had extra money that you know or higher income situation. He probably would get pulled into step. Six is where to get to twenty five percent. The roth isn't the roth. Ira wouldn't be enough money plus hsa to reach twenty five percent. You would need to top off at step. Six with the max out retirement. But he's already a twenty five percent so he goes a step seven hyper accumulation. Why and this is something that you can have a little bit discussion on the fact that because what i like about hyper accumulation as twenty five percent of your gross income going towards long term investments. But you want to get into the triple the bucket strategy here your after tax which is your brokerage account your tax deferred which is probably your employer matching account for somebody who's in a lower income situation like this and then your tax free bucket. We like to have a mix of all three. He gets to kind of move forward because think about when you're at thirty five thousand dollars. Saving twenty five percent is going to be so powerful because he's still close to the social safety net. Social security is going to be a huge portion of his retirement. He's not living off of that. Spending a ton of money plus she stack on top of that roth money you tack on top of that. Hsa money for medical expenses. He's always get access to that. Roth principal payments even if he retired early really powerful. So yes. I would say bruce..

roth Bruce Ira Roth bruce
"roth" Discussed on The Money Guy Show

The Money Guy Show

06:27 min | 1 year ago

"roth" Discussed on The Money Guy Show

"Will this require yeah. So what's interesting. Is that a lot of what they wrote in there. Where folks have these really really large balances if you have. Ira balances over ten million dollars. You won't be able to contribute anymore to them. And then you do have a balances over ten million dollars you will have. These advanced are md's and there's sort of a calculation figured how much you have to take out. And then once it even crosses over twenty million dollars you have to begin distributing that money for us. So there's a lot that they are kind of playing into these folks that have these ten and twenty million dollar balances but brian. I don't think this is about to show you know. It's pretty uncommon. I mean we were talking about the free show. Prep it's pretty uncommon for folks to have roth. Ira or any ira balance in like the tin twenty. Thirty forty million dollars. Because it's just really hard to make that many contributions in there and you have to have a really unique investment that allows that. So i think that some of this probably is not gonna hit a lot of folks. We're talking about a very small segment of the population these balances but there were some changes that they talked about specifically related to higher income. Earners that i do think is gonna hit a lot more folks. I think it is going to hit a lot of the financial mutants that we. I feel like that because of this leaked article in because they went after. Peter i do think it was a domino effect. That 'cause i get it okay. Ten million dollars. Twenty million dollars on the roth accounts but the next one is this is where it gets slightly punitive emma's because this does hit a lot of you financial mutants out there is that they are ending roth. Conversions for high income. Earners in this happens in multiple ways. This when i get so sad about because roth conversions are a huge piece of the planning that we talk about all the time whether it be for our accumulators. That are still building up towards your tom. Because we talk about the three distinct tax want to have the tax deferred the tax free in the after tax. Well a roth. Conversion strategy is a great way to be able to do that. Or even if you're someone who retires early and you want to begin converting pretax dollars to roth roth. Conversions are a great way to do that. Well they are now putting some lars limitations. That haven't been there for over a decade back on who can actually participate in these types of roth conversions. And it's not uncommon back pre twenty ten realized doing taxes. As long as i have. That was back then. You couldn't do any roth conversions. Once your income was like over one hundred hundred dollars so that was the limit and then that twenty ten tax code change allowed. There was no cap on doing roth conversions. And that's what created back door roth contribution to. That's what created mega roth. And all these other things that occurred but what this is actually going to do and this is where the government got a little clever. I give them. I mean it was small. You're trying to figure out how to pay for a tax bill and you're like man. I know that at the cbo they're going to be looking at. How much is going to generate what it's going to cost. How can we accelerate bringing more revenue in these first ten years of this plan and what the answer was yes. We're going to make it where high income people can no longer do conversions to roth. But we're gonna put a time limit we're gonna say let's not do this this actual legislation or this rule until twenty thirty one so exactly ten years and guess what that is. That's going to encourage create scare city. Where more and more people who have large retirement accounts. So they're they're they're trying to figure out how you know. Whoa or these. Do roth conversion so forth. They're going to accelerate those decisions into this ten year period. Also increase how much money people paying taxes. So it's actually. Kudos is kind of brilliant and a in a very mastermind way. It is a brilliant strategy. One of the things that we do for a lot of early retirees. And certainly if you're out there in your members of the fire movement you've seen this. Is it a lot of times. It makes sense to do roth conversions after you retire you begin converting pretext dollars in toronto dollars. Well depending on where income falls ten years from now. That may not be an opportunity. More what i think is probably going to be the natural consequence of this. There's there's going to be a lot of conversion plan. It's got to take place over the next ten years. A lot of folks will have to figure out. Do i want to begin. Converting some of these pretext dollars inderal dollar. So i won't be subject to our these so i won't be subject to different tax brackets in the future There's a lot of plans to have to take place in the next ten years because of that i mean it is. It's going to accelerate create a moment of scarcity where people go recognize. Hey we need to get some of this money converted before the deadline or this is not even legal or possible anymore. And i think you know watch what go have i think it will naturally accelerate how many people do conversions but then imagine what years eight nine and potentially ten are going to do from a tax standpoint and leads to. Here's the one that actually this is the most painful. This one is the one lead to some tears in your beer. I mean it really. Could i mean because this one this one made me so sad is that we are essentially watching the death of back-door roth so look back door and megabucks back door roth mega roth. I mean guys. They'll be extinct after this year unless something changes now. Look if you if you're one of these people who you're you're you can do you get one more year to play the album one more time. Because they're gonna let you do this in twenty twenty one so let's go creative planning opportunity. Then there's a lot of folks and we've been telling if you've been doing after-tax. Ira contributions traditional after-tax. Ira contributions but you didn't have the ability to roll this money into your 401k. So you could turn that whatever balance was in these. Raz's traditional ira's into roth guys. You probably between now and when this legislation assuming this this part of the language doesn't change in the legislation. You've got to figure this out quickly. Because 'cause you're going to lose the ability to turn after-tax traditional ira's into roth starting in twenty twenty two and that's essentially creates a roadblock or do not enter moment to wear you'll no longer be able to do these backdoor roth contribution if you're someone out there. You have an employer. You work for a large company and they have three types of 401k. Contribution you can make you know. Normally you can make pretax contributions or you can make roth contributions. Well there's a third type that we've talked about a number of times over the past couple of years called an tax contribution..

roth roth roth brian emma cbo Peter toronto Raz ira
"roth" Discussed on The Money Guy Show

The Money Guy Show

04:36 min | 1 year ago

"roth" Discussed on The Money Guy Show

"Let's see what this thing has. And then i even asked the staff. So can you tell me what you think. This proposal will do to help families and the only thing we came with this is probably the key component for tax payers of what the benefits that are coming out of. This is that it is. It's not really changing but it's locking in the expanded child tax credit that previously was two thousand that was previously before that a thousand. It's now going to stay at that. Three thousand dollar level unless your child is under six and then it's thirty six hundred dollars and it's going to be locked in until twenty twenty five. I believe so. That's the right where they got. The title of american families that is going to be helpful for parents but outside of that. There's not a lot of other things in there because you know it's not uncommon to see incentives in there for home purchases. Other things you know to try to encourage behavior. This is primarily k. Good for if you're having children but then the rest is let's tax people who were in that higher tax bracket of really incomes over four hundred thousand dollars. So we're talking about the folks you know. Obviously there are. These tax bracket changes on the marginal tax rates are talking about as well as capital gains. But there is also a lot of conversation. There was a lot written about specifically retirement accounts and how individuals have been able to use retirement account previously and how that is probably going to be changing moving forward again as we go through this. We have to remind you. This is not law yet. This has not been signed into law so of this stuff. Don't run out and start immediately planning and moving around and changing things because we don't know what the laws actually going to look like but we're gonna walk through specifically as it relates to retirement account. Some of the major items that are being discussed. Yeah first of all. We know that they're going to start limiting our contracts and this is one that you know if you have a big balance they're going to essentially make you take force are md's i mean look specifically they focus on roth account show we all know what. Why do we love. Roth accounts is because yes. It's true with roth accounts. You don't get a tax deduction when you make the contribution you use your funding these with after tax contributions and then they grow tax free. And you guys know. I'll love compound in growth at one dollar for a twenty year. Old has the potential becoming eight dollars at retirement. So it's always been very exciting from a roth. Tax standpoint. is that eighty seven dollars. A potential growth could be completely tax-free well then if you guys remember. There was a data leak of a lot of our s information on the wealthiest folks out there pro public did a whole expose and one of the big reveals of that was is that there was a holder of a roth. Our a that was worth five billion dollars and you can even see the title. They titled him the lord. Ross i mean it. It's what i this this. This is a hard precedent for me. Because i remember i've been doing taxes since the mid nineties a problem. We had in the nineties when i was doing taxes and then just went into two thousand. Was this thing called alternative minimum taxes. You know a lot of this has been fixed. But if people don't realize alternative minimum taxes were added to the tax code to target just a a very small select group of people that the legislators felt like we're taking advantage of many deductions on their tax returns so they implemented this alternative minimum tax. And then we know the rest of the stories fast forward now. Like i said it's fixed so you guys don't remember but i'm telling you for my experience was as people what was capturing just a small group of select people ended up becoming a huge thing down the road and what i worry about is whenever we try to make tax code punitive to go after just a small group of people be careful of unintended consequences but but it is interesting. How do you get in by the way this article also shared. Warren buffett has millions of dollars in a roth. Ira we could like. How does warren buffett dollars off. This is so. I think the common denominator with a lot of these folks was that they actually own the businesses that they that they invest in this one right here. So we we have peter who has the billion dollar roth. What he did was if you guys are.

roth Roth Ross warren buffett peter
"roth" Discussed on The Money Guy Show

The Money Guy Show

06:50 min | 1 year ago

"roth" Discussed on The Money Guy Show

"The money guy. Brian this is show now. Look i know this doesn't happen very often. I don't know that. I'm super excited about this. Well let me refer. I am excited about this. 'cause i'm excited because we're going to get to educate you guys on some potential legislation. That's coming down the pipe. But man there a few things that are going to hit some of our financial mutants brethren. Yeah you guys know. We don't do politics but it is one of those things where when tax policy swerves into we have to cover it. So you guys know. How is this going to impact your your savings. Your investments and i will tell you. This legislation definitely impacts financial mutants. Because what we tell you to do all the time is if you pay attention to what we teach. Your money is going to go four to ten percent greater than your peers. Just because you're going to be better with it and i gotta tell you somebody out there in the audience. You shared our secrets sad to me. I felt to somebody new a novel about financial planning that. They're like hey when we're crafting this thing. It's such a small subsection of the people who use the tax code bill. Let's get them that. i think they said hey. You go check. The money got show for these secret strategies of the wealthy. And we're going to start acting some that stuff so let's jump into this thing. I kind of like to talk about some of the key components of the legislation then is is the headline that we put up there. I want to go deeper into retirement accounts short civically roth because i think a lot of people are curious. Does this mean roth. Ira's or are they going to lose a lot of power. What does this mean for some of the planning strategies. We'll do a deeper dive on that. So we we hopefully will check a lot of the boxes. So you'll know what's actually coming from this initial proposal towards his legislation. I think the first thing. Brian that has as i was reading through the proposals. And it sounds like for folks whose income is above four hundred thousand dollars so somewhere in that range four hundred singular maybe four hundred fifty thousand dollar married if your income your household income falls into that range. Odds are your taxes are going kind of across the board. There's a number of different things that are likely going to happen. That could happen. That are going to cause your tax bill to increase. It's probably better to see this from a visual. So if you're listening to this on the podcast. I would encourage you to go out and check some of our slides that we have You can check it out on youtube you can. Also this'll probably be something that you'll just want to follow up with. I don't know if we put it on the show notes but look at the look at the tax rates for ordinary income. Because what. I like when you look at the visual. This shows that pretty much. Everything is staying the same on tax rates from ten to thirty two percent. Those are all the marginal rates but then look what happens to that. Thirty five percent bracket it kind of gets completely gets. Compressed runs out a lot. Sooner a lot earlier and county gets compressed meaning more income is going to be subject to the brand new proposed thirty nine point six percent top rate and then thirty seven percents gone. They just threw that away brought in much brought in a higher thirty nine point six but then lowered where your income needs to be because for instance a single person that thirty five thirty five to thirty seven thirty seven percent kicked in around five hundred. Twenty three thousand dollars now. It's gonna be four hundred thousand dollars now. I feel like one of the disclaimers. Brian when you say and we should probably say this over and over and over the course of this show this is not law yet. This has been signed into legislation. These are the proposals. So there's a chance that all of this could change a number of times before we actually have some concrete numbers to work with but with the most recent proposal. We're sort of educating you on what it could look like so don't sound the alarm bells. Yeah this is not written in stone but this is what it's looking like it could move towards reading tea leaves. Oh i think a lot of based upon what president biden laid out initially and then what came out of the house ways and means committee negotiation has already occurred behind the scene. So i think it is firmer than this thing getting thrown out and starting over completely so i would pay. You definitely need to be paying attention and be mindful of everything we share so you our understanding. Is there something i need to do. And and kind of getting back onto to the rates here you can see if your married filing jointly that thirty five percent bracket ran all the way up into six hundred twenty eight thousand dollars. It's actually now going to going to the top thirty nine point six at four hundred and fifty thousand dollars. So there's a there's a lot of impact there for for people because you not only raising the top rate but you're also compressing or going whoa or with where that tax rate kicks in. What i think is a lot of folks because one of the beautiful part about us. Doing this live is that we have the live chat. I'm going to come in and a lot of function. well you know. My my income isn't at that level. So maybe these things. Don't just wait because there are some things that if your income's at that level there's a chance that it will hit you. I think another thing that's interesting is it wasn't just ordinary income tax rates. They talked about adjusting. There was also some conversation around changing proposed capital gains rates in the brackets where those take place look. I was pleasantly surprised to see. Yeah we kept the zero percent tax rate for those that. If you're single under forty thousand those who are married under eighty thousand still have the fifteen percent bracket that's been changed a little bit. In the fact that once again we went woah. On where higher rates kicked in. So you can see. Currently under the current legislation the fifteen percent bracket ran all the way up to four hundred and forty five thousand for single folks. Five hundred and one thousand for married people. Now it's going to be four hundred thousand for single four fifty for married in your when you jump into that top rate which was twenty percent. That's completely gone. We're going to twenty five percent on your capital gains going. The big thing that this is suggesting to me is the folks that are in these higher tax brackets. Maybe you have to to spouses and a household. Earning in your income crosses into these thresholds tax plannings become even more important because if rates are going up you want to figure out okay. Well how do. I figure out ways to plan around that. No unfortunately some of the ways that we've done that previously are going to be changing a little bit. But i do think it. It causes people to think man. What do i need to start thinking about that. Maybe i was not thinking about previously. I will tell you the thing i got from. This legislation is typically always think about tax policy as the carrot or the stick approach on. Because you're trying to incentivize certain behaviors. You're trying to to pop people around. That's why we have syntax on all your booze your smokes and all that stuff. So tax policy is used to to nudge people in directions. And when i saw this and i saw the title was american families plan. I was like okay..

Brian president biden house ways and means committee roth Ira youtube
The Not so Digital Workforce

Think: Sustainability

02:04 min | 1 year ago

The Not so Digital Workforce

"You may think of the digital workforce as zoom meetings and shed google docs but this trend encompasses a wide range of industries and types of work. This labor refers to a really wide suite of different types of work quite often The moment is being used to refer to digital knowledge. Work so any works. That's that can be undertaken through computers. I virtually remotely roth than having to be in a specific geographical location. That's david vissel. David is a human geography at the university of melbourne and he researches the changing relationship between people and place. There's a wide spectrum of other types of works that could equally be referred to as digital works so the economy in in cities. So things like uber and delivery and all of those new types of services that we're seeing springing up in in our cities that are absolutely reliance on networks of connected mobile phones and algorithms that drive that drive both the workers and consumers so even sectors threats we traditionally associate with being very different and very not digital say things like mining for example are increasingly using. Ai and different types of autonomous developments. So yes a labor certainly a massive consideration through across a lot of different sectors of the moment and it's very variable bull people participating in the digital workforce than ever before this rapid change is something. That's come out of necessity with the emergence of the pandemic but as david explains this influx of flexible and digital workers has an impact on the way how cities function well hit potentially involves all of us in terms of the effects that it has so even if you don't work at all and no doubt you purchase things and you use different online services so even consumers are using dish labor.

David Vissel University Of Melbourne Google David
Buster Posey's 18th Homer Helps Giants to Ninth Straight Win

AP News Radio

00:43 sec | 1 year ago

Buster Posey's 18th Homer Helps Giants to Ninth Straight Win

"The red hot giants continue to roll winning their ninth straight game as they beat the Padres six to one coinciding with the win streak San Francisco scored six or more runs in each of its last nine games this is giants catcher buster Posey sense of side of things and being able to play two different positions throughout the game it's definitely a collective effort when you're able to to route a lost nine in a row Posey homered while Darren Roth and Brandon belt each with RBI doubles Anthony DeSclafani had not won a game since August thirteenth and he pitched six and two thirds strong innings allowed one run on three hits to earn the victory the Padres are struggling having lost five in a row and game behind St Louis for the second wild card spot Ryan Lee Aung San Francisco

Red Hot Giants Padres Buster Posey Darren Roth Anthony Desclafani Giants Brandon Belt San Francisco Posey St Louis Ryan Lee Aung
China Preparing to Recognize Taliban if Kabul Falls

The Glenn Beck Program

00:47 sec | 1 year ago

China Preparing to Recognize Taliban if Kabul Falls

"China is now seeking a bigger role in afghanistan to support the taliban now chasing. Why would they do that belt and road. That's their entire goal over there and they're you know plan for what is it by twenty. What is it probably twenty thirty. That's the year a everything's happening. I think it's twenty thirty but yeah by then. That's the time that they're expected to take over everything trade commerce and you're pretty much everything but afghanistan is very key for them to go through the trade route. Maybe twenty five. Isn't it china. Twenty five. I think it was. And they're they're moving forward on that and they don't care who they work with. No there's already. There's already rumors that they're working outside. Channels going through pakistan to work directly with the taliban that they know exactly. Who's about to be in control. They don't care

Afghanistan Taliban China Pakistan
"roth" Discussed on Beer Guys Radio Craft Beer Podcast

Beer Guys Radio Craft Beer Podcast

05:03 min | 1 year ago

"roth" Discussed on Beer Guys Radio Craft Beer Podcast

"We are broadcasting from the beer guy's radio studios in marietta georgia in this week. We're talking with exhibit a bruin. I'm tim dennison with me as always is my good friend and co host. Brian hewitt tim joining us. Today we have kelsey roth. General manager of exhibit a. We're gonna talk about award winning cultures new ip as and possibly the right way to pour a beer. Because i saw that it was a topic. It's a burning question. Earning question yes doing all the burning questions kelsey. Thanks for joining us. Thanks for having me absolutely massachusetts beer. It's a hot topic on guys radio. Recently it is wandering all last week. Good times and He mentioned. I think kelsey before the show. You mentioned you do know matt over there wandering soul and so good yeah. Seems like a lot of good stuff half. There's little berea near boston. I think that's pretty hot for the northeast. Ipa's and stuff so. Yeah there's one two little out there but i may be biased but we got the best beer here in massachusetts. i think. Yeah yeah good stuff man. Good you know beer. Prices vary everywhere delta. Kelsey wherever you go you may find a little price. Have you been a fly through laguardia recently. No not recently. Okay anywhere recently. Well let me tell you what you expect if you were grabbing you a beer at laguardia so the internet lit up a few days ago with some beer prices. Air one person posted a menu that they had some of the beer prices. What would you expect to pay from. Michelob ultra at laguardia. I would say that at any airport but especially anything new york laguardia. I would expect nothing less than probably twelve to fifteen dollars. Okay thirteen a bargain right celtics. Thirteen bucks from culture there now if you want to upgrade to fat tire that's going to set you back twenty one dollars but if you want to go super premium a sam summer l. was almost twenty eight dollars. Twenty seven dollars and eighty five.

tim dennison Brian hewitt tim kelsey roth kelsey marietta massachusetts georgia berea laguardia matt Kelsey boston new york laguardia celtics
The Importance of Working as a Teen

Clark Howard Show

02:33 min | 1 year ago

The Importance of Working as a Teen

"Believe that it is essential that teenagers work. Maybe some part time during the school year indefinitely during the summer. I know today a lot of parents. Don't see it that way. They want their kids learning how to do something like a year round sport that maybe makes them look better applying for college or They want them to learn how to play some kind of musical instrument to an extreme or whatever and those things are absolutely valid. I think it is invaluable for a kid to be in the workplace. Know what that means. No what it's like to get a paycheck and think you're making so much per week and see after all the deductions how much you actually net out in also to know what it's like to be on the other side with customers sometimes. That couldn't be difficult others very kind and others complicated. And so you learn all that as a kid then my rule for my three children was they all had to start working in a traditional work kind of job when they turned fifteen so my oldest is now thirty two worked in a restaurant as a hostess. My daughter is now twenty. One worked in a restaurant as expo. Which is where you're in the kitchen making sure every orders right as best you can before it's delivered to the table so you don't have take backs to the kitchen. Pig cost to a business and reputation and in loss food and then my son who's fifteen has his first job working as a lifeguard at a waterpark and all three of them the fifteen year old now the two older ones they took lessons and my son taking lessons from being in the workplace. That are absolutely phenomenal in again. Because there's such a labor shortage right now. Teenagers who may have had difficulty finding decent employment for some part time work now can

"roth" Discussed on Money Rehab with Nicole Lapin

Money Rehab with Nicole Lapin

08:23 min | 1 year ago

"roth" Discussed on Money Rehab with Nicole Lapin

"Left on the 401k. All right well. Let's introduce you to another candidate. The ira ira stands for individual retirement account similar to a 401k. You can open an ira with pretax money. And you don't have to worry about paying tax until you need to use the money but unlike a 401k an ira is not offered through an employer. You have to set it up yourself and you keep that account forever and always no matter where you work hence the individual part in the individual retirement account. Ira's are all the rage these days that. How do these darlings of the retirement savings world actually work. I found out by opening one. When i was at cnn. I started a 401k. Because it was recommended to me. I never stopped to even consider that there were other options and now of course i wish i had live and learn from me folks when i finally did look into other options. I found that there were three major prose of an ira for me number one. The money i put in actually reduced my taxes. At the time i was in the twenty five percent tax bracket so when i put six thousand dollars into my ira by taxable salary or income was reduced by that amount that met my tax bill was reduced by a cool fifteen hundred bucks which is twenty five percent of six grant which is nice mean is not that i saved that money per se since tax refunds are. Technically you remember this. Just your money coming back to you. But i didn't have to pay more for it number two. i could still have a 401k. And if i had enough money to max both of them out. I cooled number three. The ira rules were withdrawal. Aren't super stringent. If you're using the money for medical expenses to buy a house for educational purposes you can even skirt around that ten percent penalty fee well. Ira is have a lot of pros. There is one notable con- you are limited by the amount you can contribute each year and that contribution limit is lower than 401k's by a lot in two thousand twenty one you can only contribute six thousand dollars if you're under the age of fifty seven thousand dollars if you're older than fifty you can do all of this at once or you can do it at any time up to tax day following the year for which you're making that so for example you have until april fifteenth of twenty twenty two to make the contribution for twenty twenty one assuming of course that's the actual date. It's going to be next year. Once you max out the ira as you should try to do. Annually the show's over until next year. So having an ira alone isn't going to catapult you into retirement rock stardom when i started working for myself. I really didn't know where to start when setting up an ira so here are the steps. That i took step once call companies that offer. Ira is like vanguard or fidelity you can also do this online step to go through the account. Setup process also easily done online step at three decide what to invest the money in index funds. And jill step for fund the account that is put your money in and woah. You have an ira step. Fis claim the amount you contributed as a deduction on your tax return but wait there is more. I have been saving the very best for last the superstar of the team. The roth ira roth ira's or just roths for short are a lot like traditional ira's except you put money in after you pay tax so unlike a 401k or traditional ira. You don't have to pay tax on the money when you take it out when you're an old sexy lady or an old sexy guy because you already paid for it. This makes your nest egg a lot easier to account for over time. I mean we can't see into the future. We can't predict what tax rates are going to be. In the year you retire but tax rates will likely increase so those investing in a 401k. Or ira have this unknown tax bill looming while those with a roth. Ira are going to have no surprises. The rule in twenty twenty one is that you're eligible for a roth. Ira if you make less than one hundred twenty five thousand dollars as a single person. So if you're given the option you should absolutely put money into a roth. Don't hesitate pas the podcast right now and. Please open up an account seriously. Yes you are paying taxes on whatever. You're contributing now but you're paying it before your money has even grown when you pay taxes later like you do with a 401k or traditional ira. You're going to be paying taxes based upon the amount that it has grown to assume you have eighty thousand dollars in the account when you want to take the money out decades from now with a traditional ira that eighty thousand dollars is all taxable as ordinary income. Which is the same rate that you pay tax on for the salary you make. If you assume a twenty five percent tax rate the amount of money you really have. After-tax is sixty grand in other words. You're going to have to give twenty thousand dollars to the government before you can use it for all the fun things you plan for with a rough you get to keep the full eighty grand. That's right you don't have to give twenty thousand dollars to the taxman when you turn fifty-nine because you already paid taxes on the money when you put it in the account in the first place the only thing you gave up on to get this awesome deal was a deduction when you made the original contribution you can't actually deduct the contribution to roth. Ira's lake you would if you qualify for a traditional ira. That would be double dipping. Sticking with our assumed twenty-five percent tax rate. You paid an extra one thousand five hundred dollars of tax when you started twenty five percent of six grand for the privilege to not pay twenty thousand dollars later. That's a very very good deal if you ask me which you are because you're listening to me right now sued. Don't pass up on making roth contributions if you can. Here's today's tip. You can take straight to the bank. A 401k can be good. It can be great but it all depends on you your death situation your goals and your company plan if your employer doesn't match contributions or there are high fees involved or the plan doesn't come with the right investment choices for you you might wanna rethink it if you're eligible for a roth. Ira start one today. The best time to do this is when you're in a lower tax bracket because you'll pay less now and still not later this money. Rehab is a production of iheartmedia. i'm your host nicole. Lapin our producers are morgan lavoix and catherine law money. Rehab is edited an engineered by brandon. Decker with help from josh fisher. Executive producers are men gap cheddar and will pearson huge thanks to the og. Money rehabbed supervising producer michelle lambs her pre production and development work. And as always thanks to you for finally investing in yourself so that you can get it together and get it. All when the brightest minds at the university of florida come together. Something extraordinary happens. Engineering empowers medicine data scientist rice. Agriculture geology fuel space exploration and artificial intelligence transforms learning and research. The ideas that go on to change the world. They're launching right from here. At the collision of big ideas and massive potential something momentous becomes possible at the university of florida ufl dot. Edu paper ghosts is a true crime. Podcast that returns with a new season investigating the tragedy that took place in a small ohio town where the massive farm house of a wealthy family erupted in flames. All four residents died but not because of the fire. My brother says carol. Something's up there is too much. Listen to pay per ghosts on the iheartradio app apple podcasts. Or wherever you get your podcasts..

ira Ira cnn Fis roth ira jill roth morgan lavoix josh fisher michelle lambs Lapin
Is Your 401k Working for You?

Money Rehab with Nicole Lapin

01:58 min | 1 year ago

Is Your 401k Working for You?

"401k as a retirement account established by employers for employees. That's tied to the stock market if you're out of company that offers a 401k. You can make contributions before the money hits your paycheck and then your contribution is invested in an account with your name on it. They will get super excited about 401k's because sometimes the employer can make a matching contribution to your account which is like getting free money and any money. You contribute goes in before taxes. However don't think this money is tax free because you do have to pay tax when you take the money out if you take it out before your fifty nine and a half yes. That's really the number of the. Irs up with you have to pay penalty fees. 401k's do tend to be the most popular retirement plan. But that doesn't necessarily mean it's the best one for you. Remember trusting your employer with your money is trusting your employer with your money. Why not trust yourself instead. Most people don't even realize that 401k's aren't actually meant to be retirement accounts for your entire retirement. They're technically profit sharing accounts because they allow you to have one hundred percent of your money in your company's stock which you should never do hello worldcom tyco and ron lehman brothers folks. Maybe it's just me but the basic idea of having your retirement and your job. So closely linked seems wrong after all familiarity might breed contempt in family but it breeds blindness in business. If you put all your money in your company's stock and the company goes out of business your livelihood is doubly screwed now with losing your job and later with losing your retirement savings. Let me repeat 401k's aren't and were never intended to replace your entire income when you retire. It's just how we started using them once traditional pensions which are meant to replace your income when you retire started becoming less

Worldcom Tyco Ron Lehman
Are Black Creators Really on ‘Strike’ From TikTok?

This Week in Startups

02:07 min | 1 year ago

Are Black Creators Really on ‘Strike’ From TikTok?

"According to my best and friend of the pod taylor law from the new york times of twenty one year old content creator and dancer posted a fake out. Dance on tiktok. His name is eric. Lewis or louis. I'm not sure how he pronounces it in the video. He looks like he's about to dance to Medicine the stallion one of my favorites New single Thought algebra even at that and when the beat drops he basically flipped the bird and says to the camera psych. You don't know what psych means that means like I trust you in Slang from the eighties and he basically puts a caption that says. This app would be nothing without b. l. k. People black people. The video has racked up over one hundred. Twenty eight thousand likes on tick tock And it went viral on twitter. According to laurenz. And i'm going to quote here. Some tweets suggests that black raiders on tiktok had seemingly agreed not to choreograph a dance to the song which would force non black users to come up with dances on their own and prove how essential black raiders are to the platform in a later. Tiktok eric. the person who promoted this video sad black folks have always had to galvanize and riot and protest to get their voices heard that same dynamic is displayed on tiktok. Said we're being forced to collectively protest a user deja on twitter Said that black creators are telling each other to not make a dance to the new megan the samsung to prove they are the backbone of the app another quote. We are being exploited. And that's the core issue. Black folks have had in terms of labor. Mr lewis or louis. Sorry if i'm pronouncing correctly. These millions of likes. That should all translate to something. How do we get real money. Power and proper compensation reserve and the tweet from taylor today to frame this as an issue around dance credits misses the point. It's about so much more and speaks to broader issues of labor in the creator economy. We are being exploited. And that's a core issue. Black folks have always had in terms of labor. Eric said

The New York Times Of Twenty Laurenz Tiktok Tiktok Eric Lewis Eric Louis Twitter Mr Lewis Raiders Megan Samsung Taylor
"roth" Discussed on The Swearwolves

The Swearwolves

04:23 min | 1 year ago

"roth" Discussed on The Swearwolves

"It wasn't like a full on blackberry. Like a like a model underneath and she got an iphone iphone three g s. Oh man the pinnacle of then for my birthday. She bought me one. That's how i knew it was meant to be between me and her birthday gift. She got me an iphone. That's pretty awesome. What a gift that was. I'm easily pleased. I mean couple neka figures and couple of my pants on fulfill mary finger in your asshole. Who i fono. Maria's that's what they did he go but yeah but back in two thousand six having those phones. That was amazing. Anyway she comes up to him and she's like look she's speaking like broken english but she's saying here's a picture of your friend and mine together and they're both not smiling in the picture. It looks like a picture that take somebody who's being held hostage. Yes it's not a good photo but passes like send that picture to me. I wanna see that. And so she does but they're like all right you hang out here. We'll come back. We're going to go look for our friend and see where he is but you hang out here so they go looking around and they see somebody who's wearing like the sandies there he is and so they run after them and they go into this torture museum. I want to go to that. Place makes fun but they run into the guy and it's not him. It's not only in like where'd you get that jacket. What was his response. I don't know probably none of your fucking business. A jacket store make more than one job and then they get a text from oli and it says i go home like oh yeah. That's weird Selfie of him. Yeah and then. We see elsewhere always always decapitated head just head and there was the head that was in the photo. Yeah like that's all that's left of. So they cut off his head and we see that like whoever killed him cut his head off his texting them. Yep like you know. Similar to our criticism of cabin fever pacing wise. And eli roth movies. This is now thirty three minutes into the movie that something happens. Yeah okay..

iphone thirty three minutes iphone three g s. eli roth two thousand blackberry one english more than one job both couple Maria six couple of my pants figures
How Much Do I Contribute to My 401(k) if There's a Match?

Chris Hogan's Retire Inspired

01:44 min | 1 year ago

How Much Do I Contribute to My 401(k) if There's a Match?

"I've got a 401k question. The company that i worked for does a very generous Match every year at the profit sharing thought actually a match and it can range between ten and fifteen percent of my total salary. Not sure on what it's going to be every year it's not set in stone. Kind of fluctuates Right now we are putting fifteen percent into the 401k. The traditional 401k. Every year good And have been for the last three or four years so we're looking good but my question is this. Do i need to be. According to the baby steps. I need to be putting dot much in giving companies also and then the second part is do i needed looking at adding the 401k. Roth option in as well in addition to or separate. Well the if you change your 401k will either be traditional or will be roth and it's better for it to be roth and so i would change it to raw from this point. Forward now the matching portion that they give you cannot be roth. It will be traditional bylaw. Okay the matching portion does not affect our baby. Step four. maybe four as you put in fifteen percent of your income if you get gravy on the biscuit extra gravy on the best get called a match. That's just that much more wealthier half. But i don't depend on them at all. The point of baby steps is you are controlling your destiny and so you put in fifteen percent if they match. If you have a match you certainly take that match and so matches better than roth is better than traditional. That's the order of attack the rock paper scissors so to speak and So out switch it to a roth and you put in fifteen percent which it sounds like you are and you just continue to do that

Roth
"roth" Discussed on Just Don't Lose The Money Podcast

Just Don't Lose The Money Podcast

03:17 min | 1 year ago

"roth" Discussed on Just Don't Lose The Money Podcast

"The great thing about the roth. Ira down the road. The withdrawals attacks free okay. So there's no taxes on the growth but the issue that they have is that you have to qualify there's income limitation. So if you're a mary couple. In you're modified adjusted gross income is above two hundred. Eight thousand you're not able to contribute to a roth. Ira well one of the things that we've talked about in the past is that that limitations kinda thrown out the window if you're going to convert money over right. Yeah so there is this back door roth. Ira so not all is lost. If you're a high income earner the idea is to use the strategy that they called the the back door strategies with that is in twenty ten. I think there was a new tax code. That was created that allowed high income earners to legally make indirect contributions to a roth. Ira using the back door strategy in what it really is an individual's going to open up. An ira account told the pause at six or seven thousand into that account it will be a non deductible contribution so it's not like you put putting seven thousand into the ira and then you deducted that on your tax return so this will be a non deductible contribution then what happens is you'll convert that ira to a roth ira. So you'll take the ira converted to a roth now. That individual has a roth. Ira now moving. Forward that ira. Because the conversion that individual has to keep that money in there for five years before any withdrawals become tax free so that is one way using the back door strategy for high income earners to contribute to a roth. Ira where once before they couldn't another great benefit of a a roth ira is that. There's no required minimum distributions at age. Seventy two as we sting the. Irs has been kind enough to let you grow this money in your ira's tax deferred until eight seventy two then at seventy two. They require that. You take out a minimum distribution that you have to pay taxes on so the roth does not have that. So these are all things that are on. Everybody's mind right now taxes in the way you're thinking about it right now is what's coming out of my check. How much did i pay. How much did i. Oh how much am i getting back but when you get into retirement it kind of shifts a little bit you wanna think about how you're taking your money from a tax standpoint. You wanna have what we call tax forward thinking and putting yourself in a good position when.

roth ira Irs
"roth" Discussed on BiggerPockets Money Podcast

BiggerPockets Money Podcast

05:02 min | 2 years ago

"roth" Discussed on BiggerPockets Money Podcast

"It into a savings account because obviously if you need money within five ten putting it in stocks is not a good idea. 'cause we can see what happens and nine days in march and you don't want your deposit to be gone so yes so when i this is where i get a little controversial is some folks but when i started out with in my career i did not contribute to retirement accounts. They did contribute to a roth But i didn't contribute to a 401k. It was making about fifty thousand dollars a year And my goal was to house. Hack and i saw that i took my match my 401k match like you like you say At at the company. But i did not contribute sent to retirement accounts other than my roth. You know for the reasons kind. We just highlighted. And i instead built up about twenty thousand dollars in five. In my roth fiber i was limited back then and then The rest in my savings account and use that to buy duplex. That i that i lived in half and rented out the other half that was i think really appropriate step for me at that point in time because the roi on that house heck was way higher than all of the are wise. You know with market investments inside these retirement accounts after a year or two. Though i was able to then have enough cash where i could do both. I could begin taking advantage of their retirement accounts and i slowly stepped up my contributions over those years and began maxing those contributions out over time. So just you know. That's all in the in the context of these strategies. There's probably some points. In some specific. Instances where the strategy don't apply. Don't make sense in the short run in some cases absolutely. Yeah no exactly boils back down to the being personal and you were able to do much better things with that money where you know elise guy like me who doesn't want to deal with people or buildings was like this is the best choice for me so yeah no the absolutely correct so in that case if i was you back in your early days when you're just starting out then yeah i would definitely still hit that ma- that match is free salary doubling or boosting and then from there on then yeah. Don't don't touch any of these accounts because you're going to be able to do far more with your sweat equity and your real estate documents in that thing so yeah again definitely boils down to personal so glad you brought that up because yeah it's it's easy for people to be overwhelmed by these things and then feel like they're doing it wrong if they're not maxing out every single thing but a lot of cases it doesn't make sense at all. Yeah i'm glad you brought that got because the purpose of me bringing brandon back onto the show. Today isn't for brandon to say you have to do step one step two step street step for. This is the only way to do it. It's to introduce the concept of the back door. Roth the mega backdoor roth roth. Conversion ladder to people. Don't know what this is this back. This mega backdoor roth. I'm so excited. I have a self directed solo 401k because a real estate agent so i have self employment income..

Hack elise ma brandon roth roth Roth
"roth" Discussed on BiggerPockets Money Podcast

BiggerPockets Money Podcast

04:20 min | 2 years ago

"roth" Discussed on BiggerPockets Money Podcast

"I don't know what it is but let's say sixty it somewhere around there. So that would mean thirty thousand. You could put in after tax and then so you've put in twenty thousand pre-tax and your employers put in ten thousand and then you can put in another thirty thousand just again to make the math easy and so you put thirty thousand in the after tax portion of your four 401k and then you do something similar to the back door in which you just invert that after tax money. That's sitting in your traditional. Ira which again it's traditional ira. So it's tax deferred and you're gonna have to pay tax on the growth that comes off of that even though you've paid tax on the actual contribution because that's the definition of after tax the growth is still going to be taxed when you withdraw it. Say when you're sixty so what the smart thing to do is you immediately put thirty thousand into the 401k but then you roll that over to a rough 401k roth. Ira and then that is going to grow tax free. And you're going to be able to withdraw all of that money at retirement age. So simplify it. It's just a way to put like another ten twenty plus thousand dollars into a roth if you have the money available to do that and if you have the plan that allows after tax contributions okay. Great so so. I'm going to be selfish. Because this is something that i might be able to take advantage of so i've got we've got a 401k and a roth 401k through our workplace retirement a plan we. We don't have a matching program. We have a gift so regardless whether you contribute we give three percent or so too. So let's say in my case. Let's say let's use the twenty thousand. I contribute twenty thousand two to four one k. And then i get three percent match as well. So i've got was twenty two whatever into the into the ira. I can then take another twenty two k. input that into my roth. 401k or i take that into my put that in after-tax into a traditional enrolled over immediately into a roth. So you think he said. Put an extra twenty two k. In your area which you wouldn't be able to because of the the contribution limits for roth. Ira or whatever six so what you would be able to do. Is take whatever. That chunk is twenty x thousand. Put it into your traditional 401k. And depending on whether they allow inservice withdrawals you could immediately with immediately convert that into a roth and then therefore that's protected from tax growth so you can just have tax free growth on that money so it's effectively allowing you to increase your contribution limit from whatever it is sixty five hundred seven thousand. I don't know what it is these days but up to whatever the max. 401k is stay. Sixty thousand minus. Twenty thousand minus. The whatever. Bigger buckets is putting in and it just allows you to really juice..

roth
"roth" Discussed on BiggerPockets Money Podcast

BiggerPockets Money Podcast

05:33 min | 2 years ago

"roth" Discussed on BiggerPockets Money Podcast

"So i use that. I use interchangeably with backdoor roth incorrectly. Saying thank you for correctly on yes right so so yeah so that's has nothing to do with any sort of back door. That one's just straight up roth conversion louder. The back door roth is probably simpler to explain the mega backdoor start there but so earlier. I mentioned that when you asked me if you can contribute to a 401k an-and ira. I said yes but there are income limits. So i said if you make a certain amount you won't be able to make tax deductible contributions to a traditional ira and then if you make a little bit more you won't be able to contribute directly into a roth ira. So or the people in the scenario where they make too much to be able to contribute to a roth. Ira then that's where the back door roth. Ira comes in so it's really stupid. It's an insane loophole. That is out in the middle of everyone's faces and everybody can see it and they know it exists and it's so blatant but it's never been shut down so it so i'll explain it and you'll see why it's so crazy so like i said you make too much money to contribute directly to a roth. Ira so the way you get around it is you say you want to contribute five thousand dollars to a roth. You make too much. You can't contribute it so what you do. is you. Put it into a traditional ira. And like i said before if you make too much to contribute to a roth yard. Make too much to get a deduction on your traditional. Ira so what what. That's called a After-tax contribution because you're putting money into a traditional ira but you're not getting a tax deduction for so what you do. Is you put that five thousand dollars into your traditional ira and then you immediately roll that over to your roth because there's no income limits for rollovers so you're putting your actively just contributing to a roth ira but you're getting around the income limits by first going through the traditional and that that is the toros in it's just a way for people who make more than the income limit for contributing to a roth. Ira let's them. Contribute to a roth ira. Yeah it's this..

roth
"roth" Discussed on BiggerPockets Money Podcast

BiggerPockets Money Podcast

05:36 min | 2 years ago

"roth" Discussed on BiggerPockets Money Podcast

"A year To begin getting into those higher tax brackets and they're not going to go to be earning a very low amount of income in early retirements and the plan kind of relies on that. So you know. I don't think this is the core fundamental strategy towards early retirement. But it's a great tactic too. You know boosted. If that's your specific lamb. Going to travel or or go through a period. Where i i really do. Earn very little income in the years following my departure from my job Are there any other gotcha is to watch out for or folks for this may not make sense for you. Well just to give you an example cow plans sometimes change so i was full on board with this because for me it was like i just wanted to get to that number as soon as i could and this allowed to really juice investments because i was paying a lot less tax than i was investing the difference and it allowed me to hit my goal a lot sooner. Which was the whole point for me at that time then. Ironically after leaving work than some of the businesses that had been building for the last ten years swallow was working. They started earning money. So i've never actually been able to convert and you might traditional counts. So i potentially going to get to You know retirement age in have big required minimum distributions. Potentially just because it's not making sense to convert so but that at that stage it's like that's that's a good problem to have. It's not really something you're going to really cry too hard about. I don't think so. But it. But it is risk. So if i if i know what i know now going back i probably should have done more roth and you just never know the future but i just always felt at the time that i wanted to take advantage of every single potential advantage. I had at that time so that meant taking advantage of my 401k contribution deduction in my traditional ira deduction. Because i can't go back to two thousand twelve and say actually i. i should have contributed my 401k. Back then the government's not letting me do that. So i my thinking was like maximize for today take all the benefits that are available to me and lower taxes as much as legally possible and then worry about tomorrow tomorrow obviously not completely disregarding tomorrow but knowing that tomorrow is uncertain so you can't really plan as much as you can for today so so even though yeah looking back on it. I should probably done more roth at the time i'm happy. I made that decision. Because i took advantage of what i had available to me. Then and now. I'm going to have to figure out ways to take advantage of what i have available to me now and and that's a problem and i love that you have You're not prevented from doing it. You would pay taxes. That would make the shift uneconomical right because you had you have a high income tax bracket because you're businesses are successful in early retirement As the owner of the businesses. Now here let me let me just point out one thing. Though that you're still not screwed. I guess this luxury problem. But you still may be able to do the roth. Ira one day because business. Owners often Sometimes we'll have a year where they'll have a large taxable loss depending on how capitalized business..

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