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- [00:03]
James Knoll
This is another episode of Ready for Retirement. I'm your host, James Knoll, and I'm here to teach you how to get the most out of life with your money. And now onto the episode.
- [00:13]
Ari
What's up, James?
- [00:14]
James Knoll
How are you doing?
- [00:16]
Ari
I'm doing well. Have you ever been happy to get a surgery? No, I don't think most people are happy, but I have a weird situation where I was really happy about the thought of getting surgery because I thought it would fix all of my problems. I went to physical therapy. I got an MRI that set up this diagnosis. I went to so many doctors, no one told me what to do. So at one point I was like, look, just open me up and just fix me. I'm in that much agony because of my hip. Cause I play soccer too much and I love it. And that's another episode. But I'll see people come to me. And I'm sure you've seen it as well, where they go, james, just tell me, what Roth conversion do I do? Is it the 22% bracket? Well, it's going to become 25, so I don't know what. What bracket do I do? They're conversion happy, and they just want to do a conversion because they think it's going to fix all of their problems in the same way I thought surgery would fix all of my problems. But before you do surgery, there are things we should look at. And so I want to talk to you today about when it does and does not make sense to do these Roth conversions.
- [01:13]
James Knoll
I like that analogy because it is like surgery, because people don't realize this Roth conversions are painful upfront in the same way surgery can be painful upfront. And I mean that, because what you're doing in the Roth conversion is you're saying, I'm going to pay more taxes today so that I don't have to pay as much in the future. I'm going to pay taxes today at a lower rate so that I don't have to pay them in the future at a higher rate. Kind of like surgery. I'm going to go through the pain today so I can continue playing soccer and have this quality of life in the future. But perfect analogy. Where should we start with this? Because to your point, people just say, open me up, do surgery, do the conversions. Not always the right approach.
- [01:52]
Ari
Let's start with the two people that deserve to get credit. And as I bring this up on my screen, can you share with everyone who have not seen the last few episodes who the heck we are? We're Doing this together. We have separate shows and I'll pull this up.
- [02:06]
James Knoll
Yes. I'm James, this is Ari. We, we work together with a lot of people did not know Ari has a podcast channel and a YouTube channel. I have a podcast channel and a YouTube channel you're watching. If you're on YouTube, you're watching this on my channel. If you're listening, you might be listening on RA's early retirement podcast or you might be listening at my Ready for Retirement podcast because we're going to take the audio content and push it to both those places. But we said, hey, we've been doing this for several years together now, separate channels. People are surprised sometimes when they say, oh, you're actually working together. We say, yes. So let's actually do a podcast episode where we get to banter back and forth about different things. Not just about things that we want to banter about, but about comments we're getting on our YouTube videos, feedback we're getting from people listening so that we can answer a lot of the questions that many of you have.
- [02:49]
Ari
Awesome. I'm going to steal one line that I believe it was your dad told you. You said your job as an advisor is not just to advise, but teach people how to think, how to organize their brain. And so my hope is for some of you is you take away from this episode today. Wow, I should never do a Roth conversion. And anytime I see someone bring it up online, or a neighbor or coworker use this fancy conversion word, I'll get to go. I don't have to worry about it. And others of you are going to be like, wow, this is going to really change how much I can spend in retirement and legacy goals and yada yada. So here are the two people that get credit for today's episode. Once again, if you have a comment that you want to leave, you want a question for us to address, please drop it in the comments and we will look to answer that in a future episode. So this comes from Linda Pipkins, 4592. When is the best time to perform Roth conversions for a couple who is 64 and 60 with a pre tax retirement value of two and a half million? Also, how much per year? Well, James, this is an easy answer. Always February 10th. Like how does this person not know it's always no, it's not February 10th. So guys, that is the first question. The second question for this is coming from thundersnow. And I just picked this because that's a cool username. Thundersnow.
- [04:04]
James Knoll
You like that username I'm following, thundersnow, whatever they're doing. Yeah, that's great.
- [04:09]
Ari
Thundersnow, that's the new name of our show. Do you have to be working to do a Roth conversion or can it be done after retirement? I can see how the biggest hesitation in doing a conversion is that you're guaranteeing that you'll pay taxes upfront since you don't know what brackets will be in the future. What do we think of these questions?
- [04:26]
James Knoll
Good questions. And I think that these questions with Roth conversions in general, there's this thought that, okay, there's a, there's a pretty quick answer to this. Whereas the reality is it depends on so many things. The question is why? Why are we doing Roth conversions? Which for a lot of people may sound ridiculous, like there's only one reason why, but it's not, hey, some people do Roth conversions for themselves of how can I keep my lifetime tax bracket as low as possible? Some people do tax brackets for potentially a surviving spouse. They know, hey, my health is not bad. I've got a younger spouse and I'm just speaking hypothetically. My health's fine, but my, I've got a younger spouse and if I pass away, they're going to have single tax brackets as opposed to married. Filing jointly, they're going to require distributions, going to push them way up to the top of that. I need to avoid that. Others do it for their kids. We actually don't need these assets, but we don't want our kids to have to inherit them and then be forced to distribute all their pre tax account balances at a time that probably corresponds with their own peak earning years. We want this to be part of our estate plan or our transition plan, even. So understanding why you're doing it is key because then you can look at, I guess I should say it this way. My first thing, Ari, is when someone says, how much should I do a Roth conversion? Before answering, I first want to start with why should you not do a Roth conversion? I want to see, is there any way we can prevent you from paying taxes up front, from eating your cauliflower upfront, like you talk about? And if there is, great. But sometimes we do the analysis, we do everything. We say, no. As much as it is going to hurt to write that check now, it's going to hurt a whole heck of a lot more than it will be to wait and do nothing and write a check for two times, three times the amount in the future.
- [06:13]
Ari
I like that. Not going straight to surgery. When should we not do this. When should someone not do this? What are those simple things to first consider before going straight to surgery?
- [06:24]
James Knoll
First thing is you're going to be in a lower tax bracket in the future. So I'll bring up a recent example. I was talking with someone. Someone, someone was working. They were 61 years old. This was a client. They were going to move to Texas when they retired. They were living in California today. They were working. And this is a little different. They were really prioritizing doing Roth contributions to their 401k. So we'll tie this to the conversion piece. Now they were working at a high income. They said, we really want to have a tax efficient retirement. And they're putting all their 401k into the Roth 401k. And we looked at it and we said, look, when you retire, your income's going to go way down because you're not gonna be making this high six figure job income anymore. Plus, when you retire, you're paying 9, 10% in California state taxes. Today you're moving to Texas and those tax, that state tax bracket will go away. So why are we paying into something? Why are we contributing to a Roth account which gives no tax benefits today, just so we can pull it out in the future when we're going to be in a lower tax bracket? It's the opposite of what we should be doing. We should be saving money on taxes, on the contribution and then pulling it out in the future. So if you're in a position today where you're in a higher tax bracket now than you will be in the future, a Roth conversion doesn't really make sense. Now you have to think through marginal tax bracket versus effective tax bracket and there's some nuance to that. But if you're not going to be in a higher tax bracket, some of this we don't really know because who knows where tax brackets are in 10, 15, 20 years. But that would be a good reason not to. Another good reason not to. And I don't want to take the whole show to talk about this, but I think this is important if you're charitably inclined. There's something called a qualified charitable distribution. I was talking to a client one time and he said, hey, I'm selling my business and I think we should, you know, take the proceeds, put it into a flip crud nimcrut. All this is really sophisticated tax plan. Use a donor advised fund as a beneficiary of this. So, well, you really want to gift a lot of money, which is Incredible. Why don't. Instead of this big, complicated estate transaction that's going to cost you a lot of money in attorney fees and be a lot to administer, what if we just treat your 401k like your donor advice fund, like your giving account, from the standpoint of you can gift up to a hundred thousand dollars per year from that directly to a charity via what's called a qualified charitable distribution, and that money never has, is never taxable to you. You just gift it right from your IRA as opposed to being forced to distribute it. The bottom line is though, the third reason I'll say is the, the main thing that prompts the need for Roth conversions is this thing called required minimum distributions, which is you might look at your income in the future and say, okay, well, I got Social Security, I've got a pension, I've got a little bit of income from investments. I'm probably going to be in a low tax bracket, lower tax bracket at least than I am now. That may be true until you factor in these required distributions, where if you've done a good job of saving and investing to pre tax account, the IRS is going to say, congratulations, you are now required to take minimum amounts out of that each year and that number grows. And so even if you're not, I guess, discretionary spending that money, there's going to be some required spending of that which could then push you into a higher tax bracket, prompting the need for Roth conversions today. But if you're not going to have a significant RMD issue, that might be another reason not to. So before I ramble on too long, I'm going to turn it back to you to regain control over the shell.
- [09:51]
Ari
Okay, Best example on required minimum distributions. This is the first year I was working with you, James. We were in the office, little office together in Solano Beach. And if you remember, if you remember the name of the client, you can say it. I don't know if we're allowed and all that, but if we're allowed to say the name, he said, james, do you know how I know I'm doing well? You're like, I don't know. And he said, it's when I know I have required minimum distributions beyond what I'm going to need. And I remember both of us looking at each other a little bit and being like, oh, that's a cool definition. Do you remember what client that was by chance?
- [10:23]
James Knoll
No, I don't. I don't remember that. Oh, sure.
- [10:26]
Ari
Oh, I remember so clearly. So the client was like, here we are I'm sure excited to begin discussing with clients. Cause, you know, in person back then and now, we do a lot of our work, literally all of our work, virtually through zoom. And I remember him saying, hey, guys, I get we're gonna talk about Roth conversions. And I get that I need to do it. I'm not saying I don't wanna do it. I'm saying I know I'm in a good position financially when I need to take out more than I'll ever need. So, yeah, there's a problem, but there's a good problem.
- [10:53]
James Knoll
I remember, for me, you're talking about. Yeah, yeah, yeah, yeah, it's coming back now.
- [10:57]
Ari
Yep. Okay. You can say his name if you want. You don't want to, you don't have to. But it made me think of a few things. So I had one couple I spoke to, and I said, how much do you want to spend? And they go, we'd love to spend 8,000amonth in retirement. I said, okay, what if I told you had to spend 10,000amonth? They go, well, that sounds cool too. I go, what about 12,000amonth? They go, oh, yeah, we could definitely do that. I go, okay, so this number is moving pretty quickly here. I said, what about 20,000amonth? They go, I don't know if I could spend that amount. I go, what if I forced you to? And they're like, well, I just. I mean, I guess we could do it, but I just don't think we'd really need to. Like, that wouldn't add to our quality of life. And I said, well, then, great, maybe we shouldn't do Roth conversions. And they're like, what do you mean? I thought we. You told me just a second ago, we have to do it. You have this whole thing about your no brainer bracket and you fill up the next bracket. And I said, yeah, but a real easy fix to decreasing the need to Roth conversions is spending more money. And you just told me you want to spend 8,000amonth. And then in the span of about six seconds, you are willing to spend 12,000amonth. So we need to really determine how much you'd love to spend. And you can spend more, and there's less of a need to do a Roth conversion. So fix number one that I see as easy is spend more money. Fix number two, that I see is easy. Retire earlier. I don't want someone to retire too early and run the risk of running out. But we also, as a true fiduciary, our role is to go, got it what is the true goal of the client? Can we act in their best interest? Sometimes acting in their best interest is saying, look, you told me that you have health conditions and that you don't know how long you're going to be in this state of mind. And I'm not saying this is you, James, or any of you listening right now, but I'll joke that I'm the meanest advisor. I'm not actually mean, okay? I'm just transparent. And the reason I say that is because some people just like this couple here. If I go back and share this screen just for this example here, they are literally asking, when is the best time to do Roth conversions? I already told them it's February 12th, but they didn't hear me. So now when is the best time for a couple 64 and 60 with two and a half million? How much per year? Hey, when do you want to stop working? Hey, how much do you really want to spend? Any thoughts?
- [13:05]
James Knoll
Yeah, I think that Big picture thought that I'm going to come back to. This is someone's. This might have been you. This might have been someone else. Someone's saying, hey, Roth conversion is kind of like a buzzword today. Roth conversion is kind of bad today. And it's like, yeah, I. I can see what they mean by that. Of everyone. To your point, is Roth conversion happy? And I think that that can be a problem when people think that the.
- [13:31]
Ari
The.
- [13:31]
James Knoll
The sign of a successful financial plan is the. The Roth conversion strategy that saves you the most amount of money. I mean, that's pretty. How do you gauge the success of your tax strategy? Well, if I can show you that this Strategy saves you $2 million and this one saves you one, obviously the one with $2 million savings is better, right? You would think that, but you then go back to, well, what does that mean? That means you're decreasing your personal spending, Ari, in retirement so that you can keep your tax bracket super low so that you can free up more space than the tax brackets we want to fill up so that we can do more Roth conversion. So don't take that trip. Don't spend time going to those shows with your wife. Don't do the things that you want to do, because I can save you $2 million in taxes instead of 1 million. Well, that. That's the worst advice in the world. We got to remember what the main goal here is. We got to keep the main thing. The main thing. And the main thing is not tax savings. The main thing is live the life you want to live. We talk about our mission of helping people get the most out of life with their money. Not necessarily just maximizing money for the sake of maximizing money. And once you fully optimized your life, then let's maximize the tax savings that can be maximized from there. But if all you're looking at is a Roth conversion piece, the best way to optimize that is to minimize your quality of life, minimize your own spending. So I forget what your actual question was, but I just wanted to tie that in because this should never be the primary thing, this should be a secondary thing. And even going back to our process with clients, where does it start? We'll talk about purpose. What do you want to do? What's important to you. Then the next step is the income plan to maximize income to support that. Then the next step is the investment strategy to fully support that. Then finally we'll talk about taxes. Because that's not the first domino. It's not even the second domino to fall. It's okay once these other things have been optimized. It's the order of operations by which you look at things. Taxes are super important, but do not ever let it become the main thing.
- [15:25]
Ari
I definitely think going through a brief financial example would help people understand if they should worry about conversions. So let's take this couple, Linda pipkins. They've got two and a half million bucks and they said they're 64 and 60. Well, let's assume that RMDs for them begin at 75. And let's just assume their investments do really well and it doubles. And let's just assume from two and a half million to five million bucks. 75. So call 11 years and 15 years later, they've now got five million bucks. And let's assume they didn't do any conversions. They never heard us do any episode. They don't want to eat any cauliflower. Well, they've now got 5 million bucks at 75 in pre tax accounts. They also have Social Security. I have no idea. They have rental income or inheritance. But let's just assume Social Security and 5 million bucks pre tax. And correct me if I'm wrong here, because I might not recall, but is it 3.8% that RMD starts in the high threes?
- [16:21]
James Knoll
Let's round up to four so by like age 76, 77 more somewhere around there. Your required distribute is based on life expectancy. And there's a table that the IRS uses, But call it 4% is the amount that you have to take out of your portfolio, okay, there's $200,000 and that's stacking on top of Social Security. And by the way, if you have two and a half million dollars in your 401 today and you're early 60s, it means you've done pretty well. You probably have some brokerage assets as well. You maybe have some real estate assets. You may be some other things that will generate taxable income. So it's not just this 200,000 required distribution, which by the way will continue to go up each year in terms of how much you have to take out. It's Social Security plus dividends and interest plus anything else you have, plus that. And so what you're doing is you're saying, okay, what will our tax bracket be in the future? And no, we don't know where tax rates are going to be. No, we don't know exactly what's going to happen. But a, a projection that's approximately right is way better than being precisely wrong, which is doing nothing. What tax bracket are we in today? And then compare the two. And if it's a much higher bracket in the future, consider a conversion today. Now, the caveat to that is if today you're still working, it's not just looking at today and the future, it's also looking at the in between years. Today, for example, if you're in the 22% bracket and in the future you might be in the 32% bracket, you might jump to the conclusion I should do a conversion. Well, maybe. But what if the next 10 years you're in the 0% bracket because you retire and you're living on brokerage accounts or whatever. So not to get too in depth, but look at the 30,000 foot view of what is my marginal tax bracket expected to be each and every year, assuming no conversions so that I know what year should I fill up, what tax brackets to normalize or even out where I'm paying the taxes and in doing so potentially save a whole lot of money.
- [18:15]
Ari
This might be a longer episode because we just love this stuff. But I want to touch on briefly Irmaa, not for too long, but some people don't even know what IRMAA is. So I just want to allude to it because some people make the mistake of going, oh my gosh, I'm not going to do Roth conversions. That's going to increase my income. And then there's this IRMAA thing. But I don't know if you're talking about a hurricane or if that's something Else, like, what am I missing here? So want to allude to that. But at the same time, I want to bring up a huge point that you just said, which is, okay, we have a tax window if we retire at 65 and Social Security doesn't begin until 70. And then RMDs don't begin till 75. Well, to answer this, one of the questions here is do you have to be working to do a conversion? Can it be done after you can do it at any time? Doesn't mean you should do it, but you can. What we want.
- [19:07]
James Knoll
I want to stop real quick on that point. That's an excellent point because a lot of people think, oh, you have to be working to make a Roth contribution. That is true. You have to have earned income to make a contribution. You can make a conversion whenever, whether you're working, not working. It typically makes more sense when you're not working because income's lower. But you can do it whenever.
- [19:25]
Ari
Good interruption, please. Keep doing that. This on my screen, you can see here, this is an example of someone who is in retirement. And you can see this is IRMAA brackets. Now, some of you are like, I don't even know what you're talking about right now. Is that like your aunt? Not my aunt. James, do you mind breaking down what the heck IRMAA means when people should or should not worry about this?
- [19:47]
James Knoll
Yeah, IRMAA is a Medicare premium or like not a premium. It's a surcharge to your premium. So when you get Medicare, there's just a cost for your Part B premium. So for this year it's $174.70. That's the 2024 number. Now that goes up as your income goes up. So you can see if you're watching on YouTube, you can see this. If you're listening on podcasts Minor Aries, check it out on YouTube. James Canals, the podcast or the YouTube channel. This is on. You can see the numbers already showing here. Once your modified adjusted gross income exceeds. These are 2024 numbers. 206,000 if you're married, half of that if you're single, there's a premium adjustment. You're paying an extra $70 for your Part B Medicare Part B, an extra $13 for your Medicare Part D. Those are monthly amounts. So an extra $83 per month. As your income continues to go up, those surcharges go up. So it's not technically a tax. And the standpoint like an income taxes of once your income goes over certain thresholds, you move from the 10% bracket to 12% bracket, 12% to 22%, so on and so forth. But it should be viewed as like a tax because the more your income goes up, it's not just your federal income taxes that you're paying more on or your state income taxes. There's also potentially Medicare premium surcharges. I will say people sometimes get too hung up on this. They think, oh, I don't want to do a conversion because of the IRMA surcharge. One way of thinking about it is the the top of the 22% federal income tax bracket somewhat corresponds with the top of the first the threshold at which IRMAA kicks in. IRMAA kicks in. If you're married, was it 206,000, 200, 3,000? Yeah, 206,000 and above is when the first IRMAA surcharge kicks in. The top of the 22% bracket for married filing jointly is $201,050. Divide those numbers in half if you want for single. So if you're just converting up to top of the 22% bracket each time, you're not crossing that threshold. The thing to be mindful of, and this is where we're probably going to lose people and it gets confusing. And I get that is one is measuring your taxable income, one is measuring your adjusted gross income, your modified adjusted gross income. So that's where it's a little bit more technical than is going to work out to describe on a podcast episode. But do your tax prep. You do this because I have a.
- [22:15]
Ari
Good one for that. Yeah. So that's the equivalent of when I went to go get a surgery that I ended up not getting. And I'll do a separate episode on that in the future if you guys really want to know which you guys can let me know in the comments if you care or not. I won't be offended either way. But we were debating which part of my hip should we attack from. Is it from the back of the hip? Is it the front? What's going to create more scar tissue? There's a level of this where when I go to my surgeon, I'm deferring to him who's seen the inside of hips and what creates most scar tissue. So the risk to this in the same example you just shared there, James, of modified adjusted gross income versus taxable income. Some people, they know enough to be dangerous. And a lot of you guys listening are trying to optimize your financial strategy. So we're not mad at you, but you'll often say, oh my gosh, I'm retired, I'm 63, I'm going to go do a Roth conversion. And then two years later you get all mad at me and I'm like, hey, what's, what's going on? And you're like, you didn't tell me about this two year look back thing. And that impacts my Medicare and my this, my that. There's so many different things, James. And I try to pick and choose what's going to be the most bang for your buck in these episodes. So not going through every single thing there, but I hear you. Yeah.
- [23:24]
James Knoll
And I'm, I'm, I'm Googling as we speak. There's a form you can actually file to say like there is a two year look back, which is how it's calculated. You can go tell Social Security, look, my income for this. For example, if your income two years ago was $300,000 and you're turning 65, you're going to have a NORMA surcharge on your Medicare payments this year unless you proactively go to Social Security. I'm trying to look up the form as we speak. Ssa44, I believe it is where you can say, look, that was two years ago. And so you're exactly right. You can be proactive about it, which is a great thing to do to say this year it's actually only going to be a hundred thousand, so that surcharge shouldn't apply. But yes, that's that. You gotta keep both in mind.
- [24:12]
Ari
Awesome. I know we have to pick and choose our moments. And we're already at 24, 25 minutes in here. Regarding Roth conversions, la, any last things you want to leave people with regarding legacy. When can people do those QCDs you were talking about?
- [24:28]
James Knoll
QCDs, you can start doing as, as soon as age 70 and a half required distribution. Start at age 73 or 75, depending on your birth year. Used to be 72. Before that used to be 70 and a half. There's a lot. I think that the main thing, like we talked about Ari, is before just jumping into them because it seems like there's almost this weirdly dopamine hit. If I'm doing something proactive, I'm doing, I'm getting the surgery and thinking it's gonna be okay, make sure it's the right thing to do. There's a lot of cases where it's not, you know, someone that has, I don't know when required minimum distributions aren't going to be an issue. Like I Just see too many people convert too much upfront. It's like you probably would have been fine with either no conversions or just at least a lesser amount. There's another thing called a Social Security tax torpedo where the way Social Security is taxed is it's based upon what's called your provisional income. And as your taxable income increases or as your provisional income increases, more and more of your Social Security benefit gets pulled into your taxable income calculation. And so what happens is you could be in the 12% bracket, but there's this Social Security tax torpedo zone where I've got a video. I'll try to link the show notes here where I walk through this probably with way more clarity than I'm describing it here. Not only are you converting, doing a Roth conversion at the 12% bracket, which seems like a no brainer, but you're also pulling more of your Social Security into your taxable income and then paying taxes on that too. And you're effectively paying a 22.2% tax, I believe it is, as opposed to just 12% federally. So the main thing is really make sure it's the right thing for many people. It's absolutely the right thing. It's a no brainer. You should 100% do it. I just see too many people where it's not and they waste money when it wasn't required.
- [26:16]
Ari
Love it. I'll leave you all with unless James, you have anything you want to chime in after this with the cauliflower example, which I share a lot. I don't have the shirt on me, but it's one of my favorite gifts I've received where I'll explain a conversion like eating cauliflower. I want you to eat a little bit of vegetables today to avoid having to eat a ton of cauliflower in the future. And I don't want any of you guys to be going, oh my gosh, my whole retirement, I'm going to eat so much vegetables, which is paying a lot in taxes. Now some of you are like, I like cauliflower. This is a terrible example. Tell me which vegetable you'd prefer and next time, maybe next episode, James, I'll whip out the shirt so everyone gets to see it. But that's all I've got on conversions.
- [26:52]
James Knoll
That's it. Yeah. For the. You may have shared this, but when you proposed to Alice, we sent Alice a big bouquet of roses and Ari a big bouquet of cauliflower. And I don't know if you ever ate it, but you got it. But yeah, eat your cauliflower. Avoid it when it doesn't.
- [27:09]
Ari
Yeah, that's. That's my best man at the wedding. It's gonna be the cauliflower.
- [27:14]
James Knoll
Love it. Well, cool, Ari. That's all I got. Anything else from you?
- [27:17]
Ari
No, that's it.
- [27:18]
James Knoll
Last thing I'll say is, yes. This is being posted on my YouTube channel. Just so people aren't confused, Ari has a podcast, Early Early Retirement Podcast. We'll have a link out to that. Make sure you listen there. I had the podcast. The Ready for Retirement podcast will link up there. We both have been working together for a very long time. Different shows. People had no idea we worked together. So we're now doing this together and wanting to make sure that people that know me also know Ari and vice versa. So we are good. We'll have links to that and we'll see you all next time.
- [27:47]
Ari
Love you guys.
- [27:50]
James Knoll
The information presented is for educational purposes only and is not intended as an offer or solicitation for the sale or purchase of any specific securities, investments or investment strategies. Investments involve risk and are not guaranteed. Any mention of rates of return are historical and illustrative in nature and are not a guarantee of future returns. Past performance does not guarantee future performance.
- [28:10]
Ari
Viewers are encouraged to seek advice from a qualified tax, legal or investment advisor professional to determine whether any information presented may be suitable for their specific situation.
- [28:21]
James Knoll
Once again, I'm James Knoll, founder of Root Financial, and if you're interested in seeing how we help our clients at Root Financial get the most out of life with their money, be sure to Visit us at www.rootfinancialpartners.com. hey, everyone, it's me again. For the disclaimer, please be smart about this. Before doing anything, please be sure to consult with your tax planner or financial planner. Nothing in this podcast should be construed as investment, tax, legal, or other financial advice. It is for informational purposes only. Thank you for listening to another episode of the Ready for Retirement podcast. If you want to see how Root Financial can help you implement the techniques I discussed this podcast, then go to root financial partners.com and click Start Here, where you can schedule a call with one of our advisors. We work with clients all over the country and we love the opportunity to speak with you about your goals and how we might be able to help. And please remember, nothing we discuss on this podcast is intended to serve as advice. You should always consult a financial, legal, or tax professional who's familiar with your unique circumstances before making any financial decisions. It.