4 Ways to Optimize Your Investments and Savings in 2024

[@drz400sy8]

Interesting and informative presentation. There are good points in here. Not sure why the emphasis is on saving the max of everything possible. I really wonder how most people that don’t do this seem to survive or am I just missing how bad it is out there? I still respect all your videos.

[@TheFedCorner]

The emphasis on saving the max is that you have more choices if you do than if you don’t. It’s hard to catch up from missed savings, but you can always retire early if you over saved. By no means do I encourage people to have terrible lives until retirement-on the contrary. However, there is a massive under-saving crisis in the US, and everyone is responsible for their own retirement paychecks, so start young and start strong, every dollar counts! -TG

[@logroller3122]

Umbrella Insurance - should it cover your entire retirement portfolio? For example, I think many Umbrellas are probably written for $1 million dollars - just a guess as that's a round number. But maybe you have double or triple in your retirement portfolio. What's at risk? Should you up your coverage? What is current advice on Umbrella Insurance? Thanks for the video - always great information.

[@TheFedCorner]

You're correct, most umbrella insurance policies are in multiples of $1M. How much you need is dependent on your financial position. In general, IRAs have state-specific rules in terms of liability protection, so you'd need to know what state laws apply. However, umbrella insurance is cheap enough that it doesn't hurt to cover your portfolio or other assets like real estate. If things are in trust, that can change the answer as well, but make sure to check all with your advisors. Thanks for tuning in and for your question! -TG

[@kuulvisualtips9785]

How good it is to tranfer traditional TSP to Roth IRA when you have 3 more years to retire

[@Harry_16710]

You may want to wait until retirement to convert a traditional TSP to a Roth IRA because if your tax bracket lowers (due to less income) then you'd pay less tax on the conversion.

[@TheFedCorner]

As Harry mentioned, consider whether you'll be in a higher or lower bracket in the future. Factor both what your income needs will be, as well as what may be happening to tax rates in the future. -TG

[@kuulvisualtips9785]

@@TheFedCorner Thanks🙏

[@kuulvisualtips9785]

@@Harry_16710 thanks🙏

[@nicholasrunowich371]

Hi. at the 5:32 timemark you show the Obama Era vs Trump Era comparison of the brackets and thresholds. I did my own "time-jump" and I have a different answer than you. I took the 2017 Obama Era and each year pretended that is what we had for 2018 to 2024 - using the CPI-U (not the C-CPI-U which is what the Trump Era uses) (Obama era used the CPI-U ) With my inflation for the 10% to 10% and 15% to 12% , they are identical on the thresholds. The 10% in 2107 was 18650 and the 10% in 2018 was 19050. And when you even up the 2017 Obama to make it 2018 (with the CPI-U for that year) , they are even. Same goes for 75,900 to 77,400 for Obama to Trump respectively. I have no idea why you have such a disconnect in what you are showing as year to year as the years go by - that thresholds are neck-and-neck - (or very close). Since they are identically brought up in 2018 , then using the CPI-U (Obama) and C-CPI-U (Trump), they will continue to rise together with a slight variation for the difference between C-CPI-U and CPI-U from year to year. I am very curious on how you did your math on this. Because, in retirement if you can stay in that 15% bracket in 2026 and beyond - the difference is really just the 3% more - as the thresholds stay the same between them.