CFP® Explains: How to Organize Your Retirement (7 Must-Have Accounts)
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- เผยแพร่เมื่อ 17 ก.ย. 2023
- How to Organize Your Retirement (7 Must-Have Accounts!)
Dave Zoller, CFP®
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Can I Get Your Opinion? Do you like the added text on the screen in this video or do you prefer the iPad drawings? 🙂
iPad drawings are my preference. Thanks for this very educational video!
Any graphics are better than none, Dave.
Ideally, text that highlight the main points (e.g., 7 enumerated points that SIMULTANEOUSLY summarize the main presentation themes herein) are preferential to hand-drawn graphics.
But again, any graphics are better than none. Thanks for having asked!
BC
On screen print looks great!
I like the text in the screen 😊
iPad drawings are helpful.
Great video.
Keep up the great work.
At the age of 63, retired 2 years ago after 30 years on active duty in the US Navy as a physician it was the best decision that I made as a Family Physician.
The downfall is that my wife died on active duty in 2014, not from her deployments, but a terminal brain tumor.
She is buried in Arlington National Cemetery with full honors based on her incredible career.
I miss her.
My biggest problem is being afraid to spend any of my savings. I’m retired 6 years and I’m still living off of SS because I’m scared to touch savings.
Most of us who worked and invested for 50 years and waited until 70 to begin our SS, now have more income as retired people than when we were working full time.
Dave - I have just retired and have been enjoying your videos, including this one, for a while. Thank you!
New video idea: The first 90 days of your retirement.
Retiring next week at 62. Your videos are very useful and I will continue to watch. Thanks!
Great video! A dedicated video on back door Roth conversion would be helpful given the complexity related to that strategy.
Great video. Feel free to talk just a little bit slower. Makes for easier following and note taking.
Back door Roth IRA conversions would be a great topic to cover.
Dave, stumbled across your feed, and want to express how much I've enjoyed your videos because you explain it where I can relate/understand. Thank you. Taking notes. Have 14 more years to go, so paying house off by retirement, putting money away to buy a "newer" car when we retire, and continue working part time into retirement for play money. We are also taking any pay increase, and dropping it into our 403(b). Not going to be where we wish we were, but will be better off then having done nothing.
I like the bullet point text on the screen when sharing Pros & Cons, or use cases, etc. But I also like your real-time diagramming when talking about a process flow or sequence of actions, with arrows and lines between steps. I do think after diagramming though it would be helpful to the summarize the points made once again with bullet points text on the screen at the same time you are verbally summarizing. In general I must say I always enjoy your videos because you explain these concepts better than almost anyone else I listen to, with easy to understand language and a very personable style of delivery. Thanks so much for putting these out.
This was a very helpful video! I would love it if you could do a video on back door Roth IRA conversions. Thanks for the great information!
Thanks for the tremendous ongoing content. Great job!
I'd like to hear details about the back door Roth conversions. Enjoyed this video. Confirmed some of my own thoughts and strategies during retirement, 2 years out from now.
Awesome video - extremely helpful information for people who are retired or still working ! THANK YOU 🙏
Well explained! It’s a huge help to watch your videos
Not nerding-out too much. You explained things very well. Thanks!
Very informative and current. Thank you!
Thank you so much. Very helpful information.
Very helpful. I’ll have to rewatch to take notes.
Great video. Keep em coming.
Good information for an overall retirement planning. Thank you!
Appreciate this video. Thank you
smart approach to retirement planning. Diversification can be beneficial.
This is very helpful information. I especially like the new "floor" of the checking account and using the high yield savings account (or similar type account) as the source of the checking account. Definitely minimizes any potential risk or having to withdraw investments when the market is low.
Simply Excellent ❤
I would add having a Treasury Direct account to the list. Easiest way to manage fixed income assets.
To your question: like the bullet text overlays (easy-to-see summary), hate the all-orange screens (distracting), love the iPad drawings (very interactive/visual). You always have a great delivery…appreciate and enjoy the videos.
Thanks for this video
Lots of good information!
Really nice (and easy to understand) presentation style. I'm going to speak with a retirement specialist as I near retirement just to ensure everything is in good shape. Subscribed!
Would love a backdoor Roth video 🙌🏽
I came here expecting to criticize buuut, i fully agree with everything said. Solid breakdown.
Definitely would like to hear more about non-deductible IRA to back door Roth conversion!
Yes, would appreciate more on roth conver sions and back-door.
Great video!
Great information. Thank you.
Glad it was helpful!
Appreciate this video
Yes to the back door Roth contribution video!
Excellent!
Yes. Please do a video on back door Roth
Thanks
Great information
I believe that Dave is the best on the Internet regarding these related topics. Solid presentation.
And as a 15 years successful retiree in his 70s, I would like to add a number 8. We all know KISS. Don't complicate this. Keep it simple.
Of course do some planning. But this is your life and retirement. Enjoy yourself. It is OK if you leave a penny or two on the table.
Thank you
Great Video, I prefer the on screen print
Yes, please do a thorough video on the Roth IRA conversion. I am in the middle of doing it at age 65.
The back door IRA video would be very helpful. The videos you produce are very informative and truly appreciated.
You always have great information. And.... I do like your ipad drawings.
Love that I subscribed to your emails which includes more info and a link to your newest video.
I am a self employed 63 yo and am ready to retire, my CFP tells me we have saved enough, but my Husband doesn't want me to, he doesnt feel as if we have saved enough. He doesnt believe the CFP is correct. I worked an extra year so far...
Hate to go against my hubby, but I am ready.
Thanks Again!
Great video. Some of these are applicable to my situation. Also, I prefer the on screen print version the whiteboard.
I meant iPad drawings…
This is a great video, very helpful - I would like to know more about the non deductible ira that can convert to a roth, thanks again.
Great video. Also, brokerage accounts can be used to harvest large gains tax free if you keep your taxable income below the limits for long term cap gains during early retirement.
Helpful for high income retirees
Thank you Dave your video's are Very Informative. You mention brokerage account. I do have one within my IRA account in Fidelity. What is your opinion percentage should be in this account?
Very helpful. I would add that the taxable brokerage account helps you avoid being retirement rich and life poor.
Thanks, Dave. Nice video. It would be great if you could speak to my issue. You allude to the fact that you need enough money in the taxable brokerage account to cover your expenses while doing traditional to Roth conversions in those years before SS. I am already in retirement and unfortunately I didn’t prepare properly for this. The majority of my funds are in my traditional IRA and I need to get some of these funds into my taxable brokerage account to have available to live off. Is there any good strategy for this or do I just have to bite the bullet and pay the taxes?
HSAs can have alot of fees that eat into your earnings on investments. At the moment I still have a lower cost employer provided health plan that is not eligible for HSA, so it makes more sense to put money elsewhere including Treasury Direct now that bond/bill rates are good.
Good topic! I recently retired at 60 and am starting to work through the income / tax plan within my different accounts so appreciate the insights.
Yes, I like the text.
Nice presentation style
Well done 👍
Thank you 👍
Looks like you passed over the DAF account. That’s a good one for planning. Especially pre-retirement
I have an internet money market with a high interest rate. There is a checking account with it so if money is needed it is transferred immediately to the checking account (it is cash after all). It is available that same day. Also there is a debit card for cash from that checking account if needed with several local ATM’s that don’t charge a fee. There is no monthly fees. I don’t see a downside here.
Great video Dave - not needing-out at all.
Excellent content. I prefer the text-on-screen but please put the entire sentence in a static moment so that a snapshot of it can be taken.
I've had a HSA for years and it will cover my healthcare costs between my retirement (62) and Medicare (65). However, it is bs that these funds can't be used to pay insurance premiums, which is obviously a healthcare expense. Now I will run the risk of having too much money in my HSA since I am very healthy and don't expect to have a lot of healthcare expenses in retirement. I will likely convert much of my 403b to my Roth and use the HSA to cover living expenses after age 65 in order to spend it down. Ideally, I want to only leave Roth funds to heirs.
How do you have an HSA when on Medicare.
Retiring next year at 67. Plan is to live off of 401K withdrawals and Treasuries for the next 3 years. Hold of SS until 70 as it is a big tax advantage in addition to the big kick up in amount! Longevity in the family on both sides into the 90s.
Can you do another session on the back door Roth? Thank you
Great video! I really do have a question. For someone with less than $200,000 to invest, how would you recommend we enter the stock market? I am looking at studying some traders and copying their strategies rather than investing myself and losing money emotionally. I would like to get the public's opinion on this approach?
What about annuities to bring in income during retirement?
If you are already retired and already taking rmd. Can you still do backdoor Roth and does it still make sense to do it if you are in your 80's?
Text is cool 😎
Fantastic explanation !! I'm 64, and this is perfect timing for more knowledge!! Thanks! I added you to my subscription !!!!!!
13:13 What better alternatives to CDs were you talking about? Please explain.
I second this question. I have done the CD ladders and have a decent amount in a few CDs now, especially with the higher rates. I also have the HYSA. I'm not sure what other investments would be better for my "cash" bucket. Please explain.
MYGAs is one.
Can you convert a portion of a traditional IRA to an existing Roth IRA or a new Roth?
On the brokerage account, if it is taxed on the year the gain happened, what happens when you sell those stocks few years down the road, the sale happen to have a gain? Would you be taxed twice? One on the recognition of the gain and the other is on the actual sale of stocks?
Can you contribute to regular and Roth IRAs at the same time?
Where does the Roth401K come into the picture? Can I use that to convert my 401K funds?
Please make a video regarding backdoor Roth IRA.
When to start brokerage account?
More info on the back door Roth please
Can you speak a bit more about what kind of tax efficient investments can we put in the brokerage accounts?
what if your employer does not offer an hsa but other types. Can u still get a hsa and if so is it worth it?
I'd like to know if someone wants to retire and have the $89K income to stay in that lower tax bracket, how much will they have after medicare, medicade, taxes etc to spend on a monthly basis
You kept saying IRA to Roth IRA conversion. Does this mean you can do the same for 401k to Roth IRA conversion? Let me take a jab at this strategy. Now I know the 55 rule where you can retire from your current employer at age 55 and access that companys 401k without 10% penalty. So for a Single filer, I can start converting for the next 10 years my 401k to Roth IRA up to the 12% tax income ceiling of $57,675 including standard deduction and pay the coversion tax annually from high yield savings account or taxable brokerage account. Any qualified dividend or long term gains of the first $40,000 from the brokerage account will be tax free and then it jumps to 15%. The catch is you have to hold the Roth IRA conversion amount for 5 years before you can access it so you would have one Roth IRA each year. Right now I am maxing out my Roth 401k to catch up with my much larger 401k savings. Some financial youtubers are saying that the borderline between 401k and Roth 401k is 24% tax bracket.
HSA only works for high deductible health insurance
Would appreciate a dedicated video on non-deductible IRA
I don’t understand the advantage of a taxable brokerage account over a Roth IRA.
PLEASE BACKDOOR ROTH CONVERSION VIDEO!!!!!!!!!
The catch with high yield savings accounts is that they typically require you to regularly have at least one source of your income deposited there. Which is no go for me ;-(.
Do you coach on how to have a TH-cam channel?
Also HSA, no RMD
Retirement 62 old
I thought that HSAs had to be spent every year?
Yes but the online banks scare me.
I think only 4% of people use HSA as an investment.
The big yellow screen with text on them were very distracting. I did not like them. I do like the iPad drawings; they are almost always helpful.
Required minimum distributions from boomers are destroying the stock market right now in Fall 2023.