Retirement Year End Planning: Contributing to Assets

Update: 2024-11-13

Description

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

(01:01 ) Rock Retirement Club is having its last open enrollment for the year.

(02:26 ) This month the theme has been to look at year end planning items in order to optimize your plan of record.

(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.

(05:30 ) The second thing we want to look at is contributing to an IRA or Roth IRA.

(08:37 ) The next account you might consider contributing to is your health savings account.

(10:07 ) Another thing you might consider contributing to is a donor advised fund or any type of charity.

(15:03 ) The next one I’ll talk about today is 529 education plans.

(17:00 ) Another account you might want to contribute to is your after tax investment account.

LISTENER QUESTIONS

(20:00 ) Roger talks about 51 missions that his grandfather flew during World War II in honor of Veterans Day.

(21:10 ) Reid is concerned about IRMAA in 2026 regarding Roth conversions.

(24:35 ) David asks a question about projected required minimum distributions for Roth conversions.

(28:30 ) Joe asks about tax brackets and Roth conversions.

(31:13 ) Denise says the more she reads about Roth conversions, the more confused she gets.

SMART SPRINT