#512 - How Should I Pay Taxes on My Roth Conversions?
“You do not rise to the level of your goals; you fall to the level of your systems.” James Clear
I’ve been focusing on building up my systems lately and today I’ll provide you with an example of what that looks like for me.
In addition, in this episode, you’ll hear several questions on how to optimize your tax burden. Then in the Bring It On segment, Kevin Lyles joins me to discuss the role of leisure in retirement.
Join me today to take a baby step to improve your life in retirement.
Could you be our next Retirement Plan Live case study?
In January we’ll be bringing back our annual Retirement Plan Live series and we’re looking for our next couple. This time around we’re focusing on couples who have married later in life and are interested in integrating their finances while protecting their heirs.
If it sounds like you would be a good fit and you are interested, make sure that you are signed up for the 6-Shot Saturday newsletter so that you can learn how to apply.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
PRACTICAL PLANNING SEGMENT
[2:19] Building systems
LISTENER QUESTIONS
[6:31] How to pay taxes for Roth Conversions
[14:44] On new rules for catch-up contributions
[17:07] Can Larry contribute to his wife’s HSA?
[19:26] The details on the taxes on selling a house
BRING IT ON
[22:46] The role of leisure in retirement
[25:06] The 6 categories of leisure
TODAY’S SMART SPRINT SEGMENT
[31:16] Look at your after-tax accounts and tally your realized capital gains
Resources Mentioned In This Episode
BOOK - Atomic Habits by James Clear
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Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center