Excellent case study, Jacob! The rush to Roth conversions reminds me of Mark Twain's saying about his death being printed in a newspaper when it had not happened." The reports of my death have been greatly exaggerated." As is everyone needing to do Roth conversions.
Thanks Jacob! This plan is very helpful for me 😊. Now I'm confident about retiring right now because of this presentation. I have a little bit more than Her in assets but my concern was Health insurance. Now I have charity
What was her interest rate on her mortgage? If it was anything less than 5%, wouldn't it be better to not pay it off and leave that money invested and hopefully making more % per year and then paying off monthly mortgage as is?
3.5%, and you are correct. To end up with more money, keeping those funds invested would be the better move. But for her, that isn’t her main objective. Her primary goal is to feel confident, not have more money.
That’s what I have often thought of when looking at Roth conversions for myself - it seems like an awful lot of screwing around for relatively little real benefit over the long term. After grinding away on the corporate hamster wheel for my entire career, I just want to drop out of sight in retirement and not spend my days obsessing about my portfolio or spending inordinate amounts of time trying to squeeze every last nickel of taxation out of my life…….🤔
Excellent case study, Jacob! The rush to Roth conversions reminds me of Mark Twain's saying about his death being printed in a newspaper when it had not happened." The reports of my death have been greatly exaggerated." As is everyone needing to do Roth conversions.
Yes! Roth conversions can be helpful, but they aren’t for everyone.
Excellent video. Please do a video where client needs to sell five rental properties to supplement qualified retirement savings accounts. Thank you.
Thanks Jacob! This plan is very helpful for me 😊. Now I'm confident about retiring right now because of this presentation. I have a little bit more than Her in assets but my concern was Health insurance. Now I have charity
Awesome! Glad to hear it was helpful.
Low expenses makes this possible.
Exactly right.
What was her interest rate on her mortgage? If it was anything less than 5%, wouldn't it be better to not pay it off and leave that money invested and hopefully making more % per year and then paying off monthly mortgage as is?
3.5%, and you are correct. To end up with more money, keeping those funds invested would be the better move. But for her, that isn’t her main objective. Her primary goal is to feel confident, not have more money.
That’s what I have often thought of when looking at Roth conversions for myself - it seems like an awful lot of screwing around for relatively little real benefit over the long term. After grinding away on the corporate hamster wheel for my entire career, I just want to drop out of sight in retirement and not spend my days obsessing about my portfolio or spending inordinate amounts of time trying to squeeze every last nickel of taxation out of my life…….🤔
I definitely understand this! Have to make sure the juice is worth the squeeze.
1 mil and she can pay off the house, debt, health ins til Medicaid kicks in and not run out of money? I’m retiring now!