Roth Conversions Just Got UGLY (Tricky) Under the Beautiful Bill
Автор: Kevin Lum, CFP®
Загружено: 2025-07-26
Просмотров: 170990
✅Free Strategy Session ✅ https://www.foundryfinancial.org/reti...
Download the Slides: https://foundryfinancial.net/obbba-ta...
In this episode, Kevin Lum and special guest Noah Hankin, CPA discuss the massive tax implications of the recently passed 'One Big Beautiful Bill Act' on Roth conversions and retirement planning. The video provides an in-depth analysis of new tax bracket changes, enhanced senior deductions, SALT cap increases, and other tax provisions that could significantly impact your retirement strategy. Noah explains the importance of using sophisticated tax software and consulting with tax professionals to navigate these complex changes effectively. Stay informed to avoid costly tax mistakes and optimize your retirement planning.
00:00 Introduction: Why You Need to Watch This
00:32 Meet the Experts: Kevin and Noah
01:40 Overview of the New Bill
02:20 Key Provisions and Tax Implications
04:04 Tax Bracket Changes and Opportunities
05:47 Enhanced Senior Deduction Explained
09:06 SALT Cap Increase and Other Deductions
10:52 No Tax on Tips and Overtime Income
12:57 Charitable Deductions and AMT
18:05 Final Thoughts and Resources
19:40 Conclusion and Next Steps
Free Retirement Assessment // https://foundryfinancial.org/get-started
Private Facebook Group // / retirementforum
--------------------------------------------------------------------------------------------------------------------------------
ABOUT ME
I’ve always been passionate about personal finance, investing, real estate, and helping people find the freedom to live their life with purpose. But when my dad died in 2015, I tried to help my Mom find an advisor to sort out her finances. Instead of a helping hand, I found an industry of financial advisors dominated by glorified salespeople working on commission — pushing products that were not in my mother’s best interest. Or advisors with minimums that shut-out all but the ultra wealthy. Disappointed with the options, I took matters into my own hands and launched Foundry Financial, a wealth management firm with transparent pricing that specializes in helping provide clarity around money — so you have the confidence to make smart decisions.My goal is to help a million people retire without worry!
📅 THE BASICS OF RETIREMENT PLANNING
Retirement planning has several steps, with the end goal of having enough money to quit working and do whatever you want. Our goal is to help people master retirement and retire without worry.
Step 1: Know when to start retirement planning. When should you start retirement planning? The earlier you start planning, the more time your money has to grow. That said, it’s never too late to start retirement planning. Even if you haven’t so much as considered retirement, don’t feel like your ship has sailed. Every dollar you can save now will be much appreciated later. Strategically investing could mean you won't be playing catch-up for long.
Step 2: Figure out how much money you need to retire, The amount of money you need to retire is a function of your current income and expenses, and how you think those expenses will change in retirement.
Step 3: Prioritize your financial goals. Retirement is probably not your only savings goal. Lots of people have financial goals they feel are more pressing, such as paying down credit card or student loan debt or building up an emergency fund.Generally, you should aim to save for retirement at the same time you're building your emergency fund — especially if you have an employer retirement plan that matches any portion of your contributions.
Step 4: Choose the best retirement plan for youA cornerstone of retirement planning is determining not only how much to save, but also asset allocation. It can make a massive difference in your retirement plan.
Step 5: Select your retirement investments. Retirement accounts provide access to a range of investments, including stocks, bonds and mutual funds. Determining the right mix of investments depends on how long you have until you need the money and how comfortable you are with risk. It’s often helpful to talk with an adviser to discover the right mix of stocks and bonds.
❣ SPONSORED No, this video was not sponsored.
⚠️ "DISCLAIMER:⚠️This is not financial or investment advice. This Channel is meant for EDUCATIONAL AND ENTERTAINMENT PURPOSE only. None of this is meant to be construed as investment advice, it's for entertainment purposes only. #retirementplanning #retirement #passiveincome
Доступные форматы для скачивания:
Скачать видео mp4
-
Информация по загрузке:
