Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: How Should I Prioritize My Spending Buckets?
Feb 22, 2024
Suze Orman answers questions on 401ks, Roths, elder care, and starting a 529 plan. Topics include maximizing Roth retirement savings, understanding insurance on IRAs with trust beneficiaries, and prioritizing relationships over money and possessions.
26:37
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Quick takeaways
- Understanding the prorata rule in retirement accounts and how it impacts backdoor Roth IRA conversions.
- Leveraging Health Savings Accounts (HSA) as a tax-free retirement option for future medical expenses and investments.
Deep dives
Clarification on Prorata Rule and Backdoor Roth IRA
The podcast clarifies two key points related to retirement accounts - the prorata rule and backdoor Roth IRA conversions. It explains that a spouse's individual retirement account does not affect a backdoor Roth IRA, highlighting the difference in tax calculations. Listeners are encouraged to revisit the previous podcast episode for detailed information on these updates.
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