Brian Dobbis of Lord Abbett - Smart Ways to Save for Retirement

Jan 11, 2022

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When it comes to retirement, the difficult part is figuring out what retirement plan will work best for you. Many people are afraid to invest their money because they don't know how or where to start. Fortunately, there are lots of options.

In today’s episode, Rusty and Robyn talk with Brian Dobbis, Director of Retirement Solutions at Lord Abbett.

Having spent 19 years of his professional career carrying out various roles under the retirement umbrella, Brian has lived and breathed retirement. Being well versed in the industry, he provides clients with smart retirement savings plans tailored to their unique needs.

Brian talks with Rusty and Robyn about the ins and outs of Roth IRAs, the best retirement vehicles, and how to save smart for your retirement.

Key Takeaways

[05:58] - Brian's role at Lord Abbett.
[09:15] - How financial advisors help investors prepare for retirement.
[11:42] - What you need to know about Roth IRAs.
[14:16] - How backdoor Roth IRAs work.
[15:28] - How minors can contribute to Roth IRAs.
[17:10] - HSAs (Health Savings Accounts): What are they and how do they work.
[19:49] - What makes a good financial advisor.

Quotes

[09:25] - "What I tell the advisors to continue to focus on is taxes. Not only federal and state taxes, but all that I call stealth taxes, all the other things that can impact a retirement account withdrawal." - Brian Dobbis

[15:28] - "There is no minimum age to establish a Roth IRA. All that is needed to make a Roth IRA contribution is earned income. We're seeing a lot more teenagers that own businesses. They're entrepreneurial and they're self-employed. As long as they have the earned income, they are eligible to fund a Roth IRA up to the lesser of $6,000 or the amount that they earned for the year." - Brian Dobbis

[18:01] - "If you make an HSA contribution, you have a triple tax advantage. You receive a federal and most likely a state tax deduction, your dollars grow tax-deferred, and all your earnings are distributed tax-free for qualified medical expenses." - Brian Dobbis

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3128-OPS-12/16/2021