Your Retirement Might DEPEND on This One Choice

[@prepperchannel]

It is always a highlight of my week seeing Paula on KZbin.

[@affordanything]

🥰🥰🥰🥰🥰 thank you!! 🙏🏽🙏🏽

[@CameronFussner]

Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

[@JohnsonAshley-sy3lx]

Rising prices have affected my intention of retiring at 52, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.

[@williamDonaldson432]

You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £360k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@foreverlaura-fq4eu]

@@williamDonaldson432 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@foreverlaura-fq4eu]

I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@williamDonaldson432]

Annette Marie Holt is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@thehoopscoop]

Another thing folks don't consider is that money in an IRA or 401k does not qualify for capital gains tax rates but it's instead taxed as regular income.

[@Krazybonejabs]

Time will tell what happens with that. Especially when the current administration is trying to push for double the capital gains tax. As taxes rise, they will implement future legislation to get as much taxes as possible from the working population.

[@casa87blue]

I think CA residents paying tax in the higher marginal brackets are more likely to defer taxes in the Traditional 401k. I guess the main question is do you want to pay taxes 'top down' now at your marginal rate or 'bottom up' later...maybe taking state taxes out of the equation? I like Katie's strategy of maxing out 401k deferral and taking the immediate tax savings to contribute to Roth IRA.

[@thebestthingthatneverhappe6729]

that's exactly what we do here in Hawaii with similarly high tax rates

[@Krazybonejabs]

I do roth if I go below 32% bracket and switch to traditional if I hit 32% marginal bracket or higher depending on each years income. Easy peezy.

[@Fjjfuffnr244]

what it boils down to: everyone wants an answer to what they should do without having to do the work of examining their personal situation. do the work. spend the effort. you just might find out your assumptions/conclusions are wrong. anyone who tells someone else that one is always better than the other is just wrong.

[@anabanannapants]

Im glad this wasn't the first episode that i watched cause then i would not have watched another!

[@criminalelement494]

Sadly, reality means almost no one will invest the money they are saving from the tax break with traditional methods. Like many advisers, they often leave out the human factor.

[@casa87blue]

I disagree. Many have the discipline to contribute the maximum every year into 401k Roth…they also have to pony up the tax for that contribution at their marginal rate for that year. If you are in a high tax state many believe a better strategy is to defer into Traditional and convert into Roth later.

[@criminalelement494]

@@casa87blue You must not have watched this video. The claim was people would invest the money they save from the tax savings outside of their 401K. With that said, my statement still firmly stands. Most people will spend it instead. It takes a lot of discipline and desire to go even further with investments. People barely invest in their 401K, let alone into another account simultaneously.

[@casa87blue]

I am an exception to your assumption. There are a lot of homeless here in CA, so I think Iget where your ‘sadly’ comment may be coming from when you consider the entire population.

[@criminalelement494]

@@casa87blue Homeless has nothing to do with my comment. It sounds like you are having a totally different conversion. I am commenting about the video.

[@casa87blue]

@@criminalelement494 elaborate the context of your ‘human factor’ comment where you accuse them to have left out?

[@CraigYup]

My only comment is this.. how can you possibly answer this question without showing a single number on the screen? You can’t philosophize about finance.. you need to run spreadsheets or other models…

[@southduck]

Affordable care act subsidies is a concern with traditional

[@BalancedFinance]

This whole podcast was ‘building the plane while you fly’. On one side, I love the entrepreneurial continuous learning but be a bit caution on where you get what advice. Some of this was basic tax knowledge (for an expert podcast level) and the answers were struggles. Painful to watch at times.

[@albert1558]

Hopefully social security will be there. As to population we can take care of that through immigration letting more or the right amount of people in even with just green card.

[@rolandosouffrain7957]

If if if. Just do Roth amd u will have all that money in that Roth account ❤❤❤❤❤❤❤

[@buyerclub2]

This is SO bad advice. If you did not contribute the same amount and contributed less in the Roth cause you had to pay taxes on the income, it will be a wash. Or the same amount. (Just do the Math). But if you contributed the same amount, then Roth is such a better solution. Why? because for both, because of compounding, when you retire, the compounding will have grown the portfolio MUCH larger than the amount you had contributed. BUT the Roth withdrawals will be tax free, the traditional will NOT. So, what ever you hear, read on the Internet, just do the math and you will be better off.

[@66scooterdaytona]

It’s answerable; higher than you think.

[@isiah675]

Ed Slott rolling in his grave

[@antillie7]

Ed Slott isn't dead lol.

[@isiah675]

@@antillie7 yeah I'm teasing. He released a book this year on this topic lol

[@moneymoments8307]

Lol. Ed Slott rolling in his bed.

[@casa87blue]

I think Ed’s target audience is the super rich. If you look at historical tax rates converting to Roth at today’s top bracket is a bargain. His target audience can afford the tax hit.