Ep 92: Roth Conversions, Rental Property & Income, Inheritance Decisions – Mailbag Episode

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Show Notes

Today we’re going to open up the mailbag to answer your financial questions and we’ll be covering some great income, tax and investing topics.

First, we’ll talk about a popular topic in planning right now and that’s the Roth conversion. Is this a strategy you should utilize now or wait until you get closer to retirement? Or should you wait until RMD age?

Then we’ll discuss rental properties and how they fit into an income planning strategy. Real estate can be a good investment opportunity but there’s a lot to consider before buying a property you want to turn into an income-producing asset. We’ll do our best to help answer layout some of the factors that will help determine whether a rental property is right for you.

Finally, we’ll spend some time on inheritances and the options you have for putting a lump sum of money to work for you. We’ll talk about the thought processes and steps to make sure you’re getting the most out of that new money.

We hope this episode provides some great information that you can take and implement into your financial plan to help you build wealth and retire with confidence.  

Here’s more of what you’ll learn on this episode:

  • Should I start converting as much as my IRA to a Roth IRA [4:24]
  • The two main factors you need to consider before doing a Roth conversion.  [7:09]
  • Here’s what we’d recommend to decide on a Roth conversion.  [12:54]
  • Which rental property option is better? Cash out investments and pay cash, take out a home equity loan, or just have a mortgage on the property? [15:18]
  • The pros and cons of each option for buying the property. [20:08]
  • How should you use the money from an inheritance? Here are the usual priorities we run through. [27:49]

Thanks for checking out this episode of the podcast. If you’d like to learn more about financial and retirement planning, check out our YouTube channel here.




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