roth IRA

  • |

    #205: Ask Paula – Am I On-Track for Retirement?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA205.mp3" title="Ask Paula - Am I On-Track for Retirement?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Is it ever a good idea to use your 401(k) as an emergency fund?

    What’s the best way to break up with your financial advisor so that you can move all of your funds to Vanguard?

    Should you put all of your Roth IRA money into index funds, or is there a better option for your money?

    A listener has a job offer working less hours for more money, but without a retirement plan. Is this a good move?

    When running a small business as a sole proprietor, are there tax advantages to incorporating or forming an LLC? If so, what should you consider?

    What’s the best way to maximize the earnings on a large amount of savings while keeping the savings liquid? Can a robo-advisor help with this?

    Myself and former financial planner Joe Saul-Sehy tackle these six questions in today’s episode. Enjoy!

  • |

    #203: Ask Paula – Early Retirement and The Four Percent Rule

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA203.mp3" title="Ask Paula - Which House Should I Pay Off First?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Many people in their 50’s or 60’s warn us about catastrophic or ‘black swan’ events. But what’s the likelihood that this will actually happen?

    How can you use the 4 percent withdrawal rule for early retirement planning, given that your portfolio will be split among accounts with different tax treatments? How do you adjust your retirement plan for future taxes?

    Should a couple in their 30’s switch from term life to whole life insurance?

    Should a couple in their 50’s with adult children bother buying life insurance in the first place?

    Is it okay to keep all your assets at one investment brokerage, like Vanguard or Fidelity?

    And can you deduct rental losses if your income is over $150,000?

    Former financial planner Joe Saul-Sehy and I answer these questions in today’s episode.

  • |

    #197: Ask Paula – Traditional IRA vs. Roth IRA — What Should I Choose?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA197.mp3" title="Ask Paula - Traditional IRA vs. Roth IRA -- What Should I Choose?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Should Bret invest in a Traditional IRA or a Roth IRA?

    If Amanda gets married, how will her child support be affected? What about her student loan forgiveness?

    Joe is investing in bonds, which average a rate of return that’s equal to the interest rate on his mortgage. Should he switch to all-equities and redirect his bond investments into mortgage payoff, instead?

    Taunia has a car loan, a 401k loan, a home improvement loan, a primary mortgage, and a second mortgage. She also has an emergency fund that only covers two months of expenses, and she’s trying to save for college for her two children. What should she prioritize?

    Mickey has a six-month emergency fund. Should he leave it in a savings account or invest in bond ladders?

    David made $10,000 from a side hustle last year. Can he open a Solo 401k or SEP-IRA for his side hustle business? If so, which one should he choose?

    Should Andy invest in a Target Retirement Date fund, or should he split his money between a U.S. index fund and an international index fund?

    Former financial planner Joe Saul-Sehy and I answer these seven questions in today’s episode.

  • |

    #193: Ask Paula – I Spent Ten Years in School, and Now I’m Behind on Retirement Savings

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA193.mp3" title="Ask Paula - I Spent Ten Years in School, and Now I'm Behind on Retirement Savings" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Lori is behind on retirement savings, as a result of being a full-time student for more than a decade. She makes good money and lives frugally, but she’s aware that she’s behind for her age. What should she do?

    Sierra wonders whether she should apply her savings towards paying off her mortgage or building investments.

    Jenessa plans to retire at age 35, and she’s wondering if the 4 percent withdrawal rule applies for such a long time horizon. Her friend swears that it’s designed to cover a 30-year retirement, not a 60+ year retirement. Is that correct?

    Jacqui is 24 and recently married. She’d like to open a 529 College Savings Plan for her future children, which she doesn’t plan on having for another 8 to 10 years. Should she do this?

  • |

    #172: Ask Paula – Should I Buy a Nice Car or Save My Money?

    ByPaula Pant

    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA172.mp3" title="Ask Paula - Should I Buy a Nice Car or Save My Money?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]
    Should a 25-year-old homeowner with healthy savings and no debt (other than his mortgage) upgrade his car? Should he make this choice if his current car is fine, and upgrading puts him into new debt?

    Should a couple without access to an employer-sponsored retirement plan put their savings into a taxable account, or should they save for a downpayment on a rental property?

    The market is fluctuating like mad; if someone has a lump-sum of cash, should they invest it now or should they slowly meter it in?

    Should someone without an emergency fund enroll in an HSA-qualified health insurance plan? Or should they stick with a plan that has a smaller deductible?

    How should a husband-and-wife team that’s self-employed and running a company together handle their health insurance?

    Former financial planner Joe Saul-Sehy and I answer these five questions on today’s podcast. Enjoy!

  • |

    #159: Ask Paula – I Have Three Kids and I’m Hoping for Financial Independence

    ByPaula Pant
    [smart_track_player url="https://traffic.cast.plus/57b04b389655d0cb71d77f6c/traffic.libsyn.com/paulaandjaymoney/AA159_BONUS_Ask_Paula_and_Joe.mp3" title="Ask Paula - I Have Three Kids and I'm Hoping for Financial Independence" artist="Paula Pant and Joe Saul-Sehy" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Should a 36-year-old father of three invest primarily in Traditional or Roth retirement accounts? Should Rose, a grandmother of four, open a Vanguard account for each of her grandchildren?

    Should Nancy, who lives overseas and is the sole breadwinner in her family, invest in a Traditional or Roth TSP?

    Should Scott’s wife rollover her 403(b) from her former employer into an IRA?

    Should Patrick, age 35, cancel his life insurance plan?

    Former financial planner Joe Saul-Sehy and I answer these five questions in today’s episode.

  • |

    #128: Ask Paula and Joe – Should I Choose a Roth vs. Traditional IRA and 401k for Early Retirement?

    ByPaula Pant

    ​ Antonia, 27, wants to retire in 15 years. She’s trying to figure out whether to contribute to pre-tax or after-tax retirement accounts. Most financial advice for 20-somethings that she’s encountered says to contribute to after-tax (Roth) retirement accounts. These articles assume that a 27-year-old will continue earning money for the next 30+ years, presumably…

  • |

    #94: Ask Paula – The Early Retirement Episode

    ByPaula Pant

    Early retirement? Yes please. This week, I answer questions from the audience around early retirement planning, health savings and debt pay-off. Question #1: How can I avoid early-withdrawal penalties? Our first caller is Christianna, who asks two questions: I’m interested in early retirement. How can I avoid early withdrawal penalties? How does early retirement impact the…