John, your practical approach and sense of humor regarding serious issues facing retirees is priceless. This only comes with years of experience and being confident in the body of knowledge many of us, myself included, are undereducated about. Thanks so much
I just went through this - but I didn't calculate the amount that I converted properly, and my IRMA is going to bite me in a few years. I knew there would be an increase in Medicare cost, but it looks like it will be about $200/month for one year - which is more than I thought it would be. I would probably have been better off to convert over a couple of years. I also didn't do enough due diligence, and didn't know about the 5 year rule (income on the investment taken out before 5 years is taxable). It's a long story, but in the end both of these errors are on me.
New sub, very much enjoying your content. Question: if you have an IRA or 401K invested in several mutual funds, how do you determine how much of each to convert?
You have extremely informative video’s. I’ve have done deep research for my retirement. You have confirmed all of my findings. Also, I’ve learned some other good pointers from you. Scarily I came to same conclusion to convert our IRA’s to Roth IRA’s over next 5 years running up to age 70. However, better to pay taxes now then later. Thank you.
Glad yt alg found u😁. Money put in a LIRP is after tax so even though withdraw is untaxed, seems like to me it's really not tax free. Now the deferred gains on CV, if accessed by loans is tax free but you paying loan interest for the right to it. Right? Thx for such great content. I'm part time agent (engineer by day), from NC, and would be interested in knowing if working with u to maximize my life/heath/annuities license makes since.
Please make that Schedule T in the new NICER forgery proof triple permission Trust Schedule A to Z interdiction Living Trust inheritance and legacy transfer security system in July 2024 please.
Can a person have more than one Max insurance policy or is it better to have one on both or just one large one? Thanks - really appreciate your teachings!
Life insurance has no limits on the number of policies you or a trust owns. Survivorship life insurance, which includes your spouse, can be used for the same purpose. Thanks Hans
They say taxes is one of those certainties in life. Here's another one that's even more serious -- Someday each one of us will stand before God. Romans 14:12 says "So then, each of us will give an account of himself to God." When your day comes, where will your eternal home be? Jesus said “I am the way and the truth and the life. No one comes to the Father except through me."-- John 14:6 * "If you confess that Jesus is Lord and believe that God raised Him from death, you will be saved." -- Romans 10:9 *Romans 10:13 “Whoever calls upon the name of the Lord shall be saved.”
Hans is clear and concise. Very impressive information 👏
John, your practical approach and sense of humor regarding serious issues facing retirees is priceless. This only comes with years of experience and being confident in the body of knowledge many of us, myself included, are undereducated about. Thanks so much
Hans, you are my hero!
Thanks for all that free advise!
I just went through this - but I didn't calculate the amount that I converted properly, and my IRMA is going to bite me in a few years. I knew there would be an increase in Medicare cost, but it looks like it will be about $200/month for one year - which is more than I thought it would be. I would probably have been better off to convert over a couple of years.
I also didn't do enough due diligence, and didn't know about the 5 year rule (income on the investment taken out before 5 years is taxable). It's a long story, but in the end both of these errors are on me.
New sub, very much enjoying your content. Question: if you have an IRA or 401K invested in several mutual funds, how do you determine how much of each to convert?
Great info. Can you also talk about how to take In-Kind Distributions from the traditional IRA account. Thanks!
You have extremely informative video’s. I’ve have done deep research for my retirement. You have confirmed all of my findings. Also, I’ve learned some other good pointers from you. Scarily I came to same conclusion to convert our IRA’s to Roth IRA’s over next 5 years running up to age 70. However, better to pay taxes now then later. Thank you.
Great Video. This has been one of the subjects I'm trying to figure out. Thanks.
Also want to say, I learned much from Tom Morgenau’s book, Social Security Simple and Smart.
Glad yt alg found u😁. Money put in a LIRP is after tax so even though withdraw is untaxed, seems like to me it's really not tax free. Now the deferred gains on CV, if accessed by loans is tax free but you paying loan interest for the right to it. Right? Thx for such great content. I'm part time agent (engineer by day), from NC, and would be interested in knowing if working with u to maximize my life/heath/annuities license makes since.
There is a ceiling in ROTH contribution,right?How does one contribute more if there is such a ceiling?
So basically the life insurance is a type of whole life plan. What interest rates are these policies currently running at?
I've done far better paying the taxes each year and placing 20% into a regular savings account.
At 68. Ive saved 2.5 M.
Hans you can AVOID paying tax on a tax deferred account. Q. C. D. also a HSA is another way to AVOID paying tax.
Please make that Schedule T in the new NICER forgery proof triple permission Trust Schedule A to Z interdiction Living Trust inheritance and legacy transfer security system in July 2024 please.
Aren't there states that don't tax SS?
Yes. Most of them
Yes Phil I believe it's only about 13 states that tax SS . You can Google those specific states.
Can a person have more than one Max insurance policy or is it better to have one on both or just one large one?
Thanks - really appreciate your teachings!
Life insurance has no limits on the number of policies you or a trust owns. Survivorship life insurance, which includes your spouse, can be used for the same purpose. Thanks Hans
They say taxes is one of those certainties in life.
Here's another one that's even more serious -- Someday each one of us will stand before God.
Romans 14:12 says "So then, each of us will give an account of himself to God." When your day comes, where will your eternal home be?
Jesus said “I am the way and the truth and the life. No one comes to the Father except
through me."-- John 14:6
* "If you confess that Jesus is Lord and believe that God raised Him from death, you
will be saved." -- Romans 10:9
*Romans 10:13 “Whoever calls upon the name of the Lord shall be saved.”
Amen!!