Join us as we dive into year-end financial planning strategies to optimize your retirement plan. This episode unpacks the essentials of contributing to various accounts like 401(k)s, IRAs, Roth IRAs, HSAs, and donor-advised funds before the year ends. We also discuss Roth conversions and answer listener questions about IRMAA brackets and required minimum distributions. Plus, hear a special tribute to veterans, featuring the first mission of Roger’s grandfather, a WWII bomber pilot. Don’t miss this comprehensive guide to maximizing your retirement savings and honoring those who served!
SMART PLANNING SEGMENT
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01:01) Rock Retirement Club is having its last open enrollment for the year.
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02:26) This month the theme has been to look at year end planning items in order to optimize your plan of record.
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03:40) This week we focus on contributing to assets between now and the end of the year. We will start off by discussing contributing to your 401K account.
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05:30) The second thing we want to look at is contributing to an IRA or Roth IRA.
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08:37) The next account you might consider contributing to is your health savings account.
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10:07) Another thing you might consider contributing to is a donor advised fund or any type of charity.
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15:03) The next one I’ll talk about today is 529 education plans.
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17:00) Another account you might want to contribute to is your after tax investment account.
LISTENER QUESTIONS
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20:00) Roger talks about 51 missions that his grandfather flew during World War II in honor of Veterans Day.
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21:10) Reid is concerned about IRMAA in 2026 regarding Roth conversions.
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24:35) David asks a question about projected required minimum distributions for Roth conversions.
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28:30) Joe asks about tax brackets and Roth conversions.
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31:13) Denise says the more she reads about Roth conversions, the more confused she gets.
SMART SPRINT
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35:00) If you want to try to do some optimization, grab the worksheets from Six Shot Saturday and go through the lists.
IN HONOR OF VETERANS DAY
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35:54) In honor of Veterans Day, I'm going to share some missions from my grandfather to thank all of our veterans.
REFERENCES
What is Retirement Answer Man?
A top retirement podcast. Roger Whitney, CFP®, CIMA®, CPWA®, RMA, guides you on how to actually do retirement well financially and personally. This retirement podcast isn't afraid to talk about the softer side of retirement. It will teach you how to retire with confidence. Two-time PLUTUS winner for best retirement podcast / blog and the 2019 winner for best financial planner blog. This retirement podcast covers how to create a paycheck, medicare, healthcare, Social Security, tax management in retirement as well as retirement travel and other non-financial issues you'll need to address to rock retirement. Retirement isn’t an age OR a financial number. It’s finding that balance between living well today and feeling confident about your retirement. It’s about gaining more freedom to pursue the life you want. Join the rock retirement community at www.rogerwhitney.com