Welcome back to Friends Talk Financial Planning! In today’s episode, Bridget and John discuss the strategic world of Roth conversions. Wondering when the best time is to convert your traditional IRA to a Roth IRA? Or maybe you're unsure when it’s better to hold off? We cover it all! Key topics discussed: Ideal times to consider a Roth conversion, especially during low-income years. The concept of "tax bracket arbitrage" and why it’s essential. Detailed explanation of Roth co

Inheriting an IRA can be overwhelming, especially with the recent changes in tax laws. In this episode, Bridget and John break down the four essential things you need to know about inheriting an IRA. From understanding the new 10-year rule to tax-saving strategies, we cover it all. Make sure to watch until the end for valuable insights and tips! Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org Follow Us: - John Scheer’s Practice: https://www.trinf

Are you considering long-term care insurance but feeling overwhelmed with all the options and details? Look no further! Join us, Bridget and John, as we delve into the nitty-gritty of long-term care insurance, the importance of evaluating its relevance to your unique financial situation, and the factors that impact the decision to get insured. In this episode of Friends Talk Financial Planning (FTFP), we are armed with insights from the Alliance of Comprehensive Planners and

In this episode, Bridget and John share six important questions to ask when hiring a financial advisor or financial planner. They discuss the significance of credentials, fiduciary responsibilities, tax advice, comprehensive financial planning, advisor experience, and transparent fee structures. (1). "Are you a CFP or certified financial planner?" (2). "Are you a fiduciary?" (3). "Will you give specific tax advice or will it be, I need to talk to my tax person about those th

In this episode of Friends Talk Financial Planning, John and Bridget address a viewer's question, breaking down the differences between required minimum distribution (RMD) and qualified charitable distributions (QCD). They unravel the connection between these two concepts and providing valuable insights into how they can impact your taxes and charitable giving in later life. If you've ever been confused about these financial terms, this episode offers clear explanations a

In this episode, John and Bridget discuss all things Donor Advised Funds (DAFs) and Qualified Charitable Distributions (QCDs) and how to decide which strategy to use when making charitable contributions. They break down the highlights and mechanics of each option and provide insightful tips on making the best choice based on your specific situation. Check out our previous episodes on DAFs! Basics about Donor-Advised Funds: https://youtu.be/g7jbhnLcNDw How to maximize your