Show Notes
Retirement is about more than your net worth. In this listener Q&A episode of the Retire Sooner Podcast, Wes Moss and Christa DiBiase discuss Roth IRA conversions, retirement withdrawals, empty-nest moves, and the personal side of life after leaving the workforce.
· Unpack Roth IRA conversions and tax considerations, including tax withholding questions and how to cover the conversion tax bill.
· Investigate financial advising as a potential career path for other professionals amid industry staffing shortages.
· Look beyond net worth to examine how income, accessible assets, and overall wealth may fit into the broader picture of retirement readiness.
· Weigh the financial and emotional considerations of relocating after the kids leave home, including how to stay connected with adult children.
· Examine retirement withdrawal decisions across brokerage accounts, traditional IRAs, and Roth IRAs, including the roles of required minimum distributions (RMDs), taxes, and individual circumstances.
· Revisit the connection between wealth and happiness, including how inflation may influence financial benchmarks and your definition of “enough.”
· Untangle the two Roth IRA five-year rules and explore why account history and conversion timing may matter when evaluating withdrawals.
· Compare brokerage accounts, traditional IRAs, and Roth IRAs as potential homes for retirement “dry powder,” with a look at asset location considerations.
· Explore bunching charitable contributions through donor-advised funds, including potential tax benefits, applicable limitations, and timing considerations during higher-income years.
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