What Account Should Charlie Pull Cash From? (Roth? IRA? Brokerage?)

[@johnfallon6906]

The term "86" originated in the 1930s as a slang term in soda bars and lunch counters to indicate that an item was sold out.

[@bradleygraves5915]

I'd love a prayer at the beginning of each video. It calms me.

[@johnscott2746]

I use all three accounts. The Roth IRA helps to keep our reportable income low so my wife qualifies for the tax credits on her ACA policy.

[@kurtcaramanidis5705]

Roth, HSA, Brokerage, Tax Deferred, Cash Value Life Insurance. I'm ready.

[@rayanderson3164]

Josh, your "liquid" asset comment hit home, literally. I usually think of anything not in an investment account as just gone but in reality, adding to your home or even paying it down or off does still add to your overall wealth. It isn't gone but just needs to be viewed in a different light. I guess after so many years of saving I have learned to hate anything that makes those balances go down, lol.

[@Fred2-123]

Putting $200,000 into a remodel of your house does not necessarily make it worth $200,000 more. Also, the equity in your house is "dead" money. It is not liquid and you can't use it to spend it unless and until you sell the house.

[@rayanderson3164]

@@Fred2-123 I agree but it isn't "spent" or gone forever. It would essentially be locked up for inheritance at this point. No one is saying it is still spendable cash, just that it isn't gone.

[@BlackMan614]

A friend of mine did a great move. FP's tell us to take out Roth first. He retired at 62 and took out his Roth FIRST so he got the Obamacare subsidy. The subsidy cut a $1200/mth Gold plan to $500. Over 2 years that will more than make up the taxes he will pay on his regular IRA by keeping his taxable income under $30k.

[@thomasmoshier3920]

The whole idea of Roth conversions is tax free growth. You not getting that if your spending it on a remodel. And you’ve paid taxes on that conversion. Not that calendar year but relatively recently so there’s no real tax savings. Why wait to do a major remodel after retirement and deplete your retirement resources? It’s seems it would have been better planed during working years….

[@gcburkett]

I don't have much in a Roth but once you have converted enough it makes a lot of sense to do tax smart withdraws. Whether that home improvements are worth it is another discussion.

[@burningbush2322]

Every dollar used for a home remodel doesn’t equate to that same amount added to the home asset. Some remodels add very little to home value. It really depends on what work is being done.

[@kennethwers]

You are the best at being positive that the average guys can retire, if they want, with a little controlling of spending. Most channels focus on high income households and being negative about one's ability to retire. You are the light at the end of the tunnel for those looking at retirement. God bless

[@Frank-nh9fe]

One can also plan the renovation payments such that they are split between tax years, cuts the annual withdraw in half. Maybe even 3 years if a long project or the timing is right. Down payment in Jan, payment the following year, final payment the year after.

[@doug2202]

Great video Josh. Is there or can you do video that helps determine a breakdown of Roth conversions and how to determine dollar amount benefits and tax savings. Hope that makes sense. Also how it affects Obamacare recipients.

[@TedWesterfield]

Nice case study.

[@johnlollis9204]

Thanks Josh. Love all avenues you put out. One day, do a video on Rule Of 55. We are 60, next year we are using Rule of 55 to help position money before 63. As you know 63, is our deadline. At 63, we will all money to Roth. Probably leave 150-200k in traditional for QCD’s later. God bless friend and always give a Little Jesus

[@markfulmer2135]

It looks like your shirt is on inside out!!

[@wwz1011]

I use withdrawals to rebalance my portfolio. With several great years in a row, it's time to tap into brokerage stock mutual funds. Drawing from Roths is my last choice.

[@johnfallon6906]

🎯🙏🙏🙏🙏🙏🙏🙏🙏🎯

[@LarryDedian]

Great hat Josh!