Is it Beneficial for Individuals in High Tax Brackets to Save in Roth Retirement Accounts? - YMYW podcast 328
Today on Your Money, Your Wealth® podcast 328 with Joe Anderson, CFP® and Big Al Clopine, CPA: Roth 401(k) contributions and "Megatron" (er, mega backdoor) Roth contributions for highly compensated employees, and the Roth conversion strategy of filling the tax bracket. Plus, moving a pension to an investment plan, owning real estate in a self-directed IRA, paying off the mortgage vs. refinancing your house, spousal vs. survivor Social Security benefits, and rolling a whole life insurance policy to a variable annuity. Access the YMYW podcast show notes and Ask Joe & Al on air: 00:00 - Intro 01:13 - We Have $6M Retirement Savings and $475K Gross Income. Should We Contribute to Roth 401(k)? (Dan, NYC) 05:52 - Highly Compensated Employee “Megatron” Roth Contributions: Do These People Have Rocks in their Heads? (Nick, OH) 16:23 - Is Filling the Tax Bracket the Best Roth Conversion Strategy? (JR, Charlotte, NC) 27:30 - Should I Move My Pension to an Investment Plan