Ep 185: IRA Withdrawal Order with RMDs
Retire With Peace
In this episode, Dave Zaegel discusses the intricacies of Qualified Charitable Distributions (QCDs) and their tax implications, emphasizing the importance of order in IRA withdrawals, particularly when dealing with Required Minimum Distributions (RMDs) and Roth IRA conversions. He provides practical advice on how to effectively manage these financial tools to maximize tax benefits and ensure compliance with IRS rules.
info_outline
Ep 184: Never Stop Learning, Even in Retirement
Retire With Peace
In this episode, Dave Zaegel emphasizes the importance of continuous learning, especially as one transitions into retirement. He discusses how learning should not stop at any age and highlights various ways to keep the mind active, such as learning a new instrument, gardening, or exploring new cultures. The conversation underscores the idea that the brain, like any muscle, needs constant exercise to stay sharp and healthy.
info_outline
Ep 183: Why the Federal Reserve and Interest Rates Matter
Retire With Peace
In this episode of Retire with Peace, I break down what the Federal Reserve actually does, what it doesn’t control, and why relying on headlines instead of strategy can put your retirement income at risk.
info_outline
Ep 182: Something Crazy Will Happen in 2026
Retire With Peace
In this episode, Dave Zaegel discusses the expectations for 2026, emphasizing the likelihood of unexpected events impacting the market. He highlights the importance of planning for market fluctuations and preparing mentally for potential downturns. The conversation stresses the need for financial resilience, advocating for having a safety net of income outside the stock market.
info_outline
Ep 181: Accounting at 1% of Business Revenue is a Good Deal
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel emphasizes the critical importance of accounting for business owners. He argues that spending 1% of revenue on accounting services is a worthwhile investment that can prevent costly mistakes and improve financial decision-making. Zaegel discusses the operational benefits of having accurate financial records and the implications for selling a business, highlighting how poor accounting can diminish its value. He stresses the need for business owners to prioritize their financial health to ensure a successful retirement.
info_outline
Ep 180: Tax Planning is an Investment
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the critical differences between tax preparation and tax planning. He emphasizes that while tax preparation can be seen as a cost, it can also serve as an investment if it leads to significant tax savings. Conversely, tax planning is framed as a long-term investment strategy that focuses on future tax liabilities rather than immediate savings. Zaegel warns against the pitfalls of short-term tax strategies that may sacrifice future financial stability and encourages listeners to adopt a long-term perspective in their...
info_outline
Ep 179: Tax Harvesting - Automation vs. Planning
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel delves into the concept of tax harvesting, particularly focusing on tax loss harvesting. He explains the mechanics of how gains and losses on investments affect taxes, emphasizing the importance of understanding non-qualified accounts. Zaegel discusses the potential benefits of both harvesting losses and gains, and the implications of automated tax harvesting systems. He cautions listeners about the limitations of automated systems and the necessity of personalized tax strategies for effective financial planning.
info_outline
Ep 178: Roth IRAs Provide Power and Flexibility
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the advantages of Roth IRAs, particularly in the context of tax planning and health insurance costs. He emphasizes the flexibility that Roth IRAs provide, especially for clients who are retiring before Medicare eligibility. Zaegel explains how strategic Roth IRA conversions can lead to significant savings on health insurance premiums, particularly as subsidies change. He encourages listeners to take advantage of lower tax rates now to maximize their financial flexibility in the future.
info_outline
Ep 177: Roth Conversion Math (& Extra Benefits)
Retire With Peace
In this episode of the Retire with Peace podcast, host David Zaegel discusses the intricacies of Roth IRA conversions, emphasizing the importance of understanding tax implications and the timing of conversions. He uses a farming analogy to illustrate that whether taxes are paid now or later, the outcome can be the same if tax rates remain constant. Zaegel also highlights additional benefits of Roth conversions beyond tax rates, such as income management and risk mitigation in the event of a spouse's death. He concludes by stressing the need for individualized planning to optimize tax...
info_outline
Ep 176: Guardrails Monte Carlo
Retire With Peace
In this episode of the Retire with Peace podcast, host David Zaegel delves into the intricacies of Monte Carlo analysis and retirement guardrails. He explains how Monte Carlo analysis works, its relevance in retirement planning, and the common misconceptions surrounding the 4% rule. Zaegel emphasizes the importance of shifting from a percentage-based mindset to a guardrails approach, allowing for more flexibility and confidence in spending during retirement. He discusses the necessity of making adjustments based on market conditions and encourages listeners to embrace a more proactive and less...
info_outlineIn this episode, Dave Zaegel discusses traditional IRAs, Roth IRAs, backdoor Roth IRAs, and Roth IRA conversions. He explains the tax implications of each type of account and highlights the benefits of Roth IRAs, which allow for tax-free withdrawals in retirement. Dave also explains the concept of backdoor Roth IRAs, which provide a way to contribute to a Roth IRA even if your income exceeds the limits. He emphasizes the importance of tracking and reporting these transactions on Form 8606 of your tax return.
Takeaways:
Traditional IRAs provide a tax deduction for contributions, but withdrawals are taxed in retirement. Roth IRAs do not provide a tax deduction for contributions, but withdrawals are tax-free in retirement. Backdoor Roth IRAs allow high-income earners to contribute to a Roth IRA by first contributing to a traditional IRA and then converting it to a Roth IRA. It is important to track and report all IRA transactions, including backdoor Roth IRAs and Roth IRA conversions, on Form 8606 of your tax return.
Chapters:
00:00 Introduction and Sponsorship 00:57 Overview of Traditional IRAs and Roth IRAs 04:51 Benefits of Roth IRAs 05:51 Backdoor Roth IRAs 08:09 Tracking and Reporting for Backdoor Roth IRAs 09:07 Roth IRA Conversions 11:01 Conclusion and Importance of Tracking