Pay Today or Put Away? – Episode 046

To pay, or not to pay, that is the question on today’s episode of the Prosperity Podcast. Todd Strobel and Kim D.H. Butler respond to a client question about how to approach and handle money in a pre-tax account against when it’s in a post-tax account. Kim and Todd explain the issues that arise with the 401(k) and IRA realms. They offer alternatives to handle IRA money, as well as, options outside of traditional thinking, which include bridge loans, life settlements, and life insurance.

If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

Show Notes:

[0:00] Prologue

[0:19] Intro

[0:31] Overview

[1:16] Pre-tax vs. Post-tax Money

[4:11] ‘Net’ It Down

[5:23] Explaining the Stretch IRA

[7:41] Split-Up Your IRA

[10:04] Shift Your Thinking

[12:00] Leaving Money for a Charity

[13:57] Money in a Tax-deferred Account

[15:32] Converting to a Roth IRA

[17:53] Summary

[18:31] Financial Planning Has Failed

[18:50] Wrap-Up

[19:13] Outro

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