Get to Zero Tax – Part 1, Roth IRAs

Mark is back with an all-new Weekly Webinar full of market updates, an overview of current economic headlines, and a special financial planning topic meant to help you better prepare for retirement. This weekly webinar is kicking off a four-part series on how to achieve zero tax in retirement, this week’s focus is all things related to Roth IRAs.

The discussion kicks off with a look at some of the mailbag questions and updates coming out of the Ed Slott Group for the week. The first question revolves around whether a solo 401k contribution affects the pro-rata rule when considering a backdoor Roth IRA. Mark goes over the answer and takes some time to explain what the pro-rata rule is and how it may play into your own financial situation. The second question Mark addresses is in regard to RMDs under the SECURE Act for designated beneficiaries who are adult children inheriting an IRA during the death of their parent. This sort of situation can be confusing, so Mark takes some time to explain how RMDs may work in this specific situation, taking the SECURE Act changes into consideration.

From here, Mark pivots to go over some of the major market updates we’re seeing. Some of the highlights revolve around reporting numbers coming out of the Commerce Department, a conversation about inflation rates, and what we’re seeing in today’s bull market. Mark also shares the numbers coming out of Wall Street this week, showing that despite economic uncertainty, the market continues to be resilient. He also shares an interesting article from the Wall Street Journal that reported on different index performances, which he explained in a previous episode but takes some time to readdress.

Taking Advantage of Roth IRAs to Achieve Zero Tax Retirement

As stated earlier, this week kicks off a four-part series that centers around different strategies you can employ to achieve a zero-tax retirement. Using a client that he’s worked with, Mark provides a real-life example of a couple that’s working to have zero tax. This process has a lot of moving parts and requires a well-thought-out comprehensive plan, so it can be an overwhelming task to take on. However, Mark is here to help and uses the example of his client to walk through all things to do with Roth IRAs: how you can use Roth contributions and Roth conversions to strengthen your tax strategy and ultimately, boost your net worth. The impact that your tax burden will have on your financial security in retirement cannot be overstated, so it’s crucial that you take time now to plan out ways that you can minimize your future tax burden so that you set yourself up in the best possible position once you retire.

This is an episode you don’t want to miss, especially if you’re worried about your taxes in retirement. Tune in now to learn more!

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The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

Attleboro Wealth Management, LLC is a Registered Investment Adviser. This program is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Attleboro Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Attleboro Wealth Management, LLC unless a client service agreement is in place.

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0:00 – Introduction & Upcoming
04:36 – Slott Updates
18:20 – Market Update
27:46 – The Financial 15 – Get to Zero Tax, Part 1