Retirement guru Ed Slott returns to the program to offer great advice during the hectic tax prep season: ABC or Always Be Contributing (to retirement!) While he favors a Roth over a traditional IRA, he just wants you to put yourself first in order to navigate this YOYO (You're On Your Own) environment.
Ed also provided analysis of President Obama's budget and its implications for owners of Roth IRA accounts; potential changes to contribution rules that could allow some taxpayers to make after-tax contributions (aka the "Mega-Backdoor-Roth"); and why we all need to be prepared for stealth tax increases in the future.
For more great information, check out Ed's website: IRAHelp.com.
Chuck from MD and his wife are planning to retire in a few years and wanted a strategy for downsizing; Marie asked about taking her Required Minimum Distribution -- here's the FINRA RMD calculator that I mentioned; and Charles asked whether he should sell a large position in a single stock.
"A Proud Grandmother" inquired about the best graduation gift and Remy is considering the best way to help out parents' in need.
Happy Valentine's Day! To celebrate, here a fun CBS This Morning segment: How to Talk to your Spouse about Money!
Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:
- Call 855-411-JILL and we'll schedule time to get you on the show LIVE
- Send an email: firstname.lastname@example.org