DiscoverYour Money, Your WealthWhat to Do When You Get a Huge Pay Increase - 417
What to Do When You Get a Huge Pay Increase - 417

What to Do When You Get a Huge Pay Increase - 417

Update: 2023-02-21


How should your financial strategy change when your income increases dramatically? We’re talking like $450K one year to a million and a quarter the next? (If you guessed Roth conversions might be in the answer you’d be correct!) Joe and Big Al also spitball strategies for when your income is too high to make Roth contributions, and can you use capital gains to contribute to Roth? Can “Alligator Joe” afford to retire early, or does he need to keep gutting it out at his current job wrestling alligators? Should Catherine contribute to her 401(k) or buy company stock before she quits her day job to start a business? The fellas also spitball retirement planning involving structured settlements, inherited assets, and ACA credits, and they discuss transferring annuities to a CD vs. deferring the interest into another annuity. 


  • 00:58 -  Income Increased Dramatically. Should Our Retirement Tax Strategies Change? (Cookie Baron, Texas)
  • 08:59 - Can I Use Capital Gains to Make Roth Contributions? (Aaron)
  • 12:12 - Early Retirement Spitball: Should I Keep Gutting it Out at My Current Job? ("Alligator Joe Frazier", The Sunshine State FL)
  • 18:11 - Contribute to 401(k) or Buy Company Stock Before Quitting to Start a Business? (Catherine, TX)
  • 20:32 - Retirement Spitball: Income is Too High for Roth Contributions (Kelly, Owensboro, KY)
  • 25:10 - Retirement Spitball: Structured Settlement, ACA Credits, & Inherited Assets (Kara from PA)
  • 29:42 - Should We Transfer Annuities to CD, or Defer Interest Into Another Annuity? (Norma, Chula Vista)
  • 34:00 - The Derails

Access this week's free financial resources in the podcast show notes at

  • The Complete Roth Papers Package
  • 10 Ways the SECURE Act 2.0 Changes Your Taxes and Retirement Planning (webinar)
  • Episode Transcript
  • Ask Joe & Big Al On Air
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What to Do When You Get a Huge Pay Increase - 417

What to Do When You Get a Huge Pay Increase - 417

Joe Anderson, CFP® & Alan Clopine, CPA