Current customer here.... Thanks for the great info, I learned a few things! There are so many different opportunities out there and you guys make it easier to understand them all. I converted ALL of my Traditional over to ROTH when they started and let you spread out the tax over a few years, but have made a lot of Traditional Contributions since for the tax breaks in certain years. This really helped me understand how I should go about getting more converted. Thanks, Dan from WI
I have never written a review on RUclips and watch quite often and felt apprehensive about writing a review like this but here goes .... although there was some good information, it was painful to watch and took more than twice as long as I think it should have been. I think that it would have been much more professional and concise if Mat Sorensen did all the explaining. I could get this type of information on several other channels without wasting so much time and feel frustrated while watching. I'm surprised so many people rated this favorably.
Question on the Roth’s, understand to convert my traditional balances to Roth I need to pay tax during the conversion. Do I need to do that before I am allowed to do nondeductible roth contributions (“back door”)?
Damn it. Now I want a Rockstar. Thanks for all the info guys! Just opened my Crypto Roth IRA. Rolling money on Monday. I’m scared but I’m pretty sure this is the right move.
Love this guys! I will be sharing this on my podcast as well! Maybe if I’m lucky can get one or both of you on my new podcast! You would be one of the best guests ever! 😎 Thanks for all you do!
do i pay the taxes from my savings or is it to be deducted from the traditional IRA account? oh, not so good if I have to wait 5 years after converting it. I am 63 so it sounds like I still have to wait. either way, I have to pay. then i rung into the risk of my investment declining after i pay the conversion taxes, not good for me :(
I'm in the process of transferring my Roth & traditional IRA's to you guys for IRA/LLC. Starting a new career nxt year that will significantly increase my household income (more than double), so my wife and I will never be in a better tax bracket than we are right now. Approx 60% of my funds are traditional, would like them all to be Roth, but can't absorb the 12k tax bill for the full conversion this year. In my situation, is it reckless and stupid to have the taxes paid out of the IRA and just be content to start out with a lower balance?
Current customer here.... Thanks for the great info, I learned a few things! There are so many different opportunities out there and you guys make it easier to understand them all. I converted ALL of my Traditional over to ROTH when they started and let you spread out the tax over a few years, but have made a lot of Traditional Contributions since for the tax breaks in certain years. This really helped me understand how I should go about getting more converted. Thanks, Dan from WI
Dan, thank you, this is great news!
Guys I love educating people about you both on how to get ahead
Thanks!
I have never written a review on RUclips and watch quite often and felt apprehensive about writing a review like this but here goes .... although there was some good information, it was painful to watch and took more than twice as long as I think it should have been. I think that it would have been much more professional and concise if Mat Sorensen did all the explaining. I could get this type of information on several other channels without wasting so much time and feel frustrated while watching. I'm surprised so many people rated this favorably.
Thanks for the feedback Diana. We will keep that in mind. Thanks for watching.
Question on the Roth’s, understand to convert my traditional balances to Roth I need to pay tax during the conversion.
Do I need to do that before I am allowed to do nondeductible roth contributions (“back door”)?
Damn it. Now I want a Rockstar. Thanks for all the info guys! Just opened my Crypto Roth IRA. Rolling money on Monday. I’m scared but I’m pretty sure this is the right move.
Love these strategies!
Thanks!
Movie reference - What about Bob
Love this guys! I will be sharing this on my podcast as well! Maybe if I’m lucky can get one or both of you on my new podcast! You would be one of the best guests ever! 😎 Thanks for all you do!
Off topic but can you guys do a segment on the pros and cons of partnering vs multi-member LLC.
Thanks
do i pay the taxes from my savings or is it to be deducted from the traditional IRA account? oh, not so good if I have to wait 5 years after converting it. I am 63 so it sounds like I still have to wait. either way, I have to pay. then i rung into the risk of my investment declining after i pay the conversion taxes, not good for me :(
I'm in the process of transferring my Roth & traditional IRA's to you guys for IRA/LLC. Starting a new career nxt year that will significantly increase my household income (more than double), so my wife and I will never be in a better tax bracket than we are right now. Approx 60% of my funds are traditional, would like them all to be Roth, but can't absorb the 12k tax bill for the full conversion this year. In my situation, is it reckless and stupid to have the taxes paid out of the IRA and just be content to start out with a lower balance?
Tough call. Most people are not going to use retirement proceeds to pay for taxes on conversion.
Sorry, but George W. Bush was not president in 2012. Maybe he means Barack Obama. (See 4:35 in the video)
Roths are not tax free, you pay the taxes up front! Hello! Yes the gains afterwards only are tax free.
70% babble. Can’t listen anymore