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Apar\u2019s income has more than doubled after he started his own business. His advisor recommends Roth contributions but he\u2019s skeptical due to his high income. Who\u2019s right?<\/p>\n
Keith is frustrated by the conflicting advice he\u2019s heard about Roth conversions. Is it better to do it while he\u2019s young and earning a lower income, or should he wait until closer to retirement?<\/p>\n
Krish is fascinated by cryptocurrency and its impact on global investing. What opportunities should he capitalize on, and how?<\/p>\n
Former financial planner Joe Saul-Sehy and I tackle these three questions in today\u2019s episode.<\/p>\n
Enjoy!<\/p>\n
P.S. Got a question? Leave it here<\/a>.<\/p>\n _______<\/p>\n Apar asks (at 03:26 minutes<\/strong>): My income recently increased from $300,000 to $700,000 after starting my own business. I expect to maintain this income for at least five to ten years. Should I invest my solo 401(k) contributions in Roth or traditional (pre-tax) dollars?<\/p>\n I\u2019ve been a listener since my first year of residency, about seven years ago.\u00a0 I\u2019m now an attending physician and I\u2019ve come a long way financially. I recently opened a solo 401(k) and made a large contribution.<\/p>\n The advisor connected to the plan suggested I make all Roth contributions. However, I\u2019ve always thought that during peak earning years, it\u2019s better to prioritize pre-tax contributions to take advantage of the tax savings now.<\/p>\n My wife and I have $400,000 in pre-tax retirement accounts and $250,000 in Roth accounts, mostly from contributions I made during residency. I plan to continue with contributions, but I\u2019m unsure whether to prioritize Roth or stick with pre-tax during these high-income years.<\/p>\n What\u2019s your take on this?<\/p>\n Keith asks (at 06:58 minutes<\/strong>): I\u2019m 34 years old and have some traditional money in my TSP (Thrift Savings Plan). I\u2019ll be allowed to make Roth conversions in a couple of years, and I wonder if it\u2019d make sense for someone my age to begin converting.<\/p>\n I currently earn a gross income of $60,000. I\u2019ve heard different perspectives: some say it\u2019s better to start early so the Roth money has more time to grow tax-free, while others recommend waiting until closer to retirement when your income might be lower.<\/p>\n What\u2019s your take on the best time for a Roth conversion, and why? Is it a complicated process that requires professional help, or is it straightforward enough to handle on my own?<\/p>\n Krish asks (at 59:48 minutes<\/strong>): I\u2019d like to know about opportunities in the American, Indian, and Singaporean markets. What are the best apps or platforms for investing in these markets?<\/p>\n Additionally, I\u2019m curious about the future of cryptocurrency and how blockchain technology could impact investing globally.<\/p>\n Thanks to our sponsors!<\/p>\n Policygenius<\/strong><\/a> NetSuite<\/strong><\/a> Wayfair<\/strong><\/a> <\/div>\n![\"listen](\"https:\/\/affordanything.com\/wp-content\/uploads\/listen-to-afford-anything-on-itunes.png\")
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