<description>&lt;p class="p1"&gt;Should the new temporary senior tax deduction change your Roth conversion strategy? Joe and Big Al spitball for Chris in Maple Grove, Minnesota, who wonders whether to keep converting to Roth now that the $6,000 Senior Bonus deduction phases out with higher income, today on Your Money, Your Wealth® podcast 554 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Teri from Salt Lake City's broker has amassed $60,000 of losses in Teri's $1.1 million account due to tax-loss harvesting. When is enough… enough? Windy Chicago in Chino Hills, California, wonders what to do about their cost basis vanishing after transferring mutual funds to Vanguard, and Larry and Sally from Michigan are planning for retirement while facing significant health challenges. Can they afford to bridge the healthcare gap and still retire safely?&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;strong&gt;Free Financial Resources in This Episode:&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;strong&gt;&lt;a href= "https://bit.ly/ymyw-554"&gt;https://bit.ly/ymyw-554&lt;/a&gt;&lt;/strong&gt; &lt;em&gt;(full show notes &amp; episode transcript)&lt;/em&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;a href= "https://purefinancial.com/white-papers/one-big-beautiful-bill-act-guide/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554" target="_blank" rel="noopener"&gt;&lt;strong&gt;One Big Beautiful Bill Act Guide&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;a href= "https://purefinancial.com/white-papers/retirement-income-strategies/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;strong&gt;Retirement Income Strategies Guide&lt;/strong&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;a href= "https://purefinancial.com/ymyw/episodes/retirement-rebound-5-plays-help-score-comeback/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;strong&gt;Retirement Rebound: 5 Plays to Help You Score a Comeback&lt;/strong&gt;&lt;/a&gt; &lt;em&gt;- YMYW TV&lt;/em&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;a href= "https://purefinancial.com/financialblueprint/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;strong&gt;Financial Blueprint&lt;/strong&gt;&lt;/a&gt; &lt;em&gt;(self-guided)&lt;/em&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s2"&gt;&lt;a href= "https://purefinancial.com/lp/free-assessment/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;strong&gt;Financial Assessment&lt;/strong&gt;&lt;/a&gt;&lt;/span&gt; &lt;span class= "s1"&gt;&lt;em&gt;(Meet with an experienced professional)&lt;/em&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s3"&gt;&lt;strong&gt;REQUEST your&lt;/strong&gt; &lt;a href= "https://purefinancial.com/ymyw/ask-joe-and-al/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;span class="s4"&gt;&lt;strong&gt;Retirement Spitball Analysis&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s3"&gt;&lt;strong&gt;DOWNLOAD&lt;/strong&gt; &lt;a href= "https://purefinancial.com/white-papers/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;span class="s4"&gt;&lt;strong&gt;more free guides&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s3"&gt;&lt;strong&gt;READ&lt;/strong&gt; &lt;a href= "https://purefinancial.com/learning-center/blog/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;span class="s4"&gt;&lt;strong&gt;financial blogs&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s3"&gt;&lt;strong&gt;WATCH&lt;/strong&gt; &lt;a href= "https://purefinancial.com/ask-pure/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;span class="s4"&gt;&lt;strong&gt;educational videos&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;strong&gt;SUBSCRIBE to the&lt;/strong&gt; &lt;a href= "https://purefinancial.com/lp/newsletter-sign-up/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-554"&gt; &lt;span class="s2"&gt;&lt;strong&gt;YMYW Newsletter&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p3"&gt; &lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;strong&gt;Connect With Us:&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s2"&gt;&lt;a href= "https://bit.ly/YMYW-YT"&gt;&lt;strong&gt;YouTube&lt;/strong&gt;&lt;/a&gt;&lt;/span&gt;&lt;span class="s1"&gt;: Subscribe and join the conversation in the comments&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s2"&gt;&lt;a href= "https://lnk.to/ymyw"&gt;&lt;strong&gt;Podcast apps&lt;/strong&gt;&lt;/a&gt;&lt;/span&gt;&lt;span class="s1"&gt;: subscribe or follow YMYW in your favorite&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s2"&gt;&lt;a href= "https://bit.ly/YMYWpodcast"&gt;&lt;strong&gt;Apple Podcasts&lt;/strong&gt;&lt;/a&gt;&lt;/span&gt;&lt;span class="s1"&gt;: leave your honest reviews and ratings&lt;/span&gt;&lt;/p&gt; &lt;p class="p4"&gt; &lt;/p&gt; &lt;p class="p5"&gt;&lt;strong&gt;Chapters:&lt;/strong&gt;&lt;/p&gt; &lt;p class="p5"&gt;00:00:00 - Intro&lt;/p&gt; &lt;p class="p1"&gt;00:00:56 - Should We Stop Roth Conversions for the New $6,000 Senior Bonus Tax Deduction? (Chris, Maple Grove, MN)&lt;/p&gt; &lt;p class="p1"&gt;00:07:44 - Lost Cost Basis After Moving Funds to Vanguard. Now What? (Windy Chicago, Chino Hills, CA)&lt;/p&gt; &lt;p class="p1"&gt;00:10:21 - Tax Loss Harvesting: When Is It Too Much? (Teri, Salt Lake City)&lt;/p&gt; &lt;p class="p1"&gt;00:18:49 - Can We Retire with Rising Health Costs and Care Needs? (Larry &amp; Sally Morgan, voice)&lt;/p&gt; &lt;p class="p1"&gt;00:33:34 - Outro: Next Week on the YMYW Podcast&lt;/p&gt;</description>

Your Money, Your Wealth

Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

Change of Roth Plans for the New Senior Tax Bonus? Tax-Loss Wins? - 554

NOV 4, 202534 MIN
Your Money, Your Wealth

Change of Roth Plans for the New Senior Tax Bonus? Tax-Loss Wins? - 554

NOV 4, 202534 MIN

Description

Should the new temporary senior tax deduction change your Roth conversion strategy? Joe and Big Al spitball for Chris in Maple Grove, Minnesota, who wonders whether to keep converting to Roth now that the $6,000 Senior Bonus deduction phases out with higher income, today on Your Money, Your Wealth® podcast 554 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Teri from Salt Lake City's broker has amassed $60,000 of losses in Teri's $1.1 million account due to tax-loss harvesting. When is enough… enough? Windy Chicago in Chino Hills, California, wonders what to do about their cost basis vanishing after transferring mutual funds to Vanguard, and Larry and Sally from Michigan are planning for retirement while facing significant health challenges. Can they afford to bridge the healthcare gap and still retire safely?

Free Financial Resources in This Episode:

https://bit.ly/ymyw-554 (full show notes & episode transcript)

One Big Beautiful Bill Act Guide

Retirement Income Strategies Guide

Retirement Rebound: 5 Plays to Help You Score a Comeback - YMYW TV

Financial Blueprint (self-guided)

Financial Assessment (Meet with an experienced professional)

REQUEST your Retirement Spitball Analysis

DOWNLOAD more free guides

READ financial blogs

WATCH educational videos

SUBSCRIBE to the YMYW Newsletter

Connect With Us:

YouTube: Subscribe and join the conversation in the comments

Podcast apps: subscribe or follow YMYW in your favorite

Apple Podcasts: leave your honest reviews and ratings

Chapters:

00:00:00 - Intro

00:00:56 - Should We Stop Roth Conversions for the New $6,000 Senior Bonus Tax Deduction? (Chris, Maple Grove, MN)

00:07:44 - Lost Cost Basis After Moving Funds to Vanguard. Now What? (Windy Chicago, Chino Hills, CA)

00:10:21 - Tax Loss Harvesting: When Is It Too Much? (Teri, Salt Lake City)

00:18:49 - Can We Retire with Rising Health Costs and Care Needs? (Larry & Sally Morgan, voice)

00:33:34 - Outro: Next Week on the YMYW Podcast