How Retirement Changes for High Net Worth Retirees - High Net Worth Wealth Management
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- เผยแพร่เมื่อ 22 พ.ค. 2024
- This video is geared towards HNW individuals BUT even if you're not that, you can still use some of these concepts to benefit your financial future. The good news is you don’t need massive skill or some edge to take advantage of many of these strategies, but what you do need is some proactive planning.
Dave Zoller, CFP®
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00:00 - Taking advantage of these strategies
01:05 - Investment Performance
01:47 - Reducing Taxes
03:40 - The First One
06:20 - Appreciated Asset Strategy
10:03 - Estate Strategy
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It would help if you defined what you mean by high net worth. Are we talking $3 million, $5 million, $10 million, $30 million, $100 million?
If you are really wealthy, you won't be able to do a Roth conversion because you're already in the 37% bracket anyway. If you mean just moderately well-off, then you might look at Roth conversions.
For me, the number one tax dodge for wealthy retirees is the 15%/18.3%/23.3% tax rate on dividends. If all nearly all your income is qualified dividends, you can cut your Federal taxes in nearly in half.
One of the examples is a $3M 401(k), so I'm thinking "mid 7-figures and up"
At what level do you consider "high net worth"?
Great video . What about converting money from 401k to Roth after 59 when you are not earning ? Thanks
Great content! Thank you!
Great videos
With and IRA > 11M, then RMD > 500K. That looks like a serious taxable event. This will push you into the 35% tax bracket easily add any more income and your at the max bracket. What would be nice to see a chart that shows what IRA and income values really see a benefit from Roth conversions. It seems to me that folks with little IRAs don't benefit and those with very large IRAs may not benefit much either. But there is a sweet spot that may benefit a lot. For this kind of analysis would be to optimize spending level at a reasonable probability of success like 90% or 95%.
You must define high net worth if you’re going to talk about it.
Would add, in addition to the proactive planning for tax efficiency and generational transfers, augment the maneuvers with robust risk management, best performed by the financial advisor as QB.
What is your definition of "High Net Worth"? Or is it if you have to ask, it's not you....
Good advice given what I guess is legal but I don't see how, when IRA contributions are capped at like $6500 a year, you should ever be able to convert millions into a Roth IRA. If you put your money into a pre-tax 401K it should have to stay there. This is a prime example of something that would make the tax code simpler and is in there to primary benefit very few people who are most likely in the political donor class.
Why should backdoor or mega backdoor Roth conversions be disallowed? Seems like a great tool if your income has passed the phase-out range.
No limits on Roth “conversions “…not
“Contributions “