Roth Conversions, Pension Lump Sums & Annuities: Is Bigger Always Better? - 581

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June in Washington State is 62 with $2.5 million saved and a $350,000 pension on the table. Should she take the lump sum or the monthly check for life? Spoiler alert: there's a 3-to-1 vote in the studio, and Big Al is the one, today on Your Money, Your Wealth® podcast number 581 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Plus, how aggressive should “Homer and Marge” get with Roth conversions, and is it smart to pay the conversion tax from an inherited IRA RMD? Pompous Assets drops his big, fat wallet on the YMYW table next: with millions in tax-deferred and taxable accounts, why is his financial advisor fighting him on a Roth conversion? Of course, Joe and Big Al have some thoughts on the subject. Finally, Johnny Mercer in Georgia is eyeing an immediate income annuity and a MYGA. The fellas break down why that 7.5% “rate of return” might not be what he thinks.

Free Financial Resources in This Episode:

https://bit.ly/ymyw-581 (full show notes & episode transcript)

Ultimate Guide to Roth IRAs - free download:

https://purefinancial.com/white-papers/roth-ira-white-paper/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-ultimate-guide-to-roth-iras&utm_content=ymyw-pod-ep581-description-whitepaper

Financial Blueprint (free, self-guided):

https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep581-description-blueprint

Your 11 Step Path to Financial Freedom - YMYW TV:

https://purefinancial.com/ymyw/episodes/your-11-step-path-to-financial-freedom/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep581-description-tv-s10e13

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Chapters:

00:00 - Intro: This Week on the YMYW Podcast

01:08 - Should I Take the Pension Lump Sum or Monthly Income? (June, WA State)

09:23 - How Much Should We Convert to Roth Each Year? (Homer & Marge)

16:26 - Should I Convert My Entire IRA to a Roth? (Pompous Assets, Arkansas)

23:00 - $5M All in Pre-Tax. Should I Buy an Annuity Before It's Too Late? (Johnny Mercer, GA)

36:00 - Outro: Next Week on the YMYW Podcast