An unexpected item has made its way into Costco 🛒. Gold bars! Yep. You can now find one-ounce gold bars for sale online at Costco. Mike and Kristen discuss whether or not it’s a wise move to hedge against economic uncertainty and explore the pros and cons of investing in physical gold.

The rush to buy gold bars at Costco may be a sign of growing economic anxiety and distrust in the government, but it's essential to weigh the practicality of such an investment. Physical gold can be challenging to store and transact with, and there are more accessible alternatives like precious metals ETFs. It's a good idea to consult with a fiduciary financial advisor to explore your options and make informed decisions about protecting your wealth.

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🎃 After some fall 🍂 and creepy Halloween chat 👻 (courtesy of Mike's kids), we discuss various “safe” money options that may be on your radar, and which might be best for YOU! Retirement planning can feel like a daunting task, especially when the economic landscape seems uncertain.

With interest rates on CDs, money market accounts, and Treasury yields showing promise, the question arises: Should you consider annuities or explore alternative options? Mike and Kristen dive into the pros and cons of annuities and explore the potential benefits of Treasury bonds as a safer investment choice for retirees.

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📺 Watch our weekly YouTube show / @guardingyournestegg

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As we approach retirement, financial decisions become increasingly crucial. One is whether to convert your traditional IRA or 401(k) into a Roth IRA. Based on a recent live event attendee's question, Mike and Kristen discuss the complexities of Roth conversions and help you understand whether it's the right choice for your unique financial situation.

➡️ The Allure of Tax-Free Retirement Income: Roth IRA conversions have gained popularity due to the promise of tax-free income during retirement. The concept is enticing: you pay taxes upfront when you convert your traditional retirement accounts, and then your withdrawals in retirement are entirely tax-free. Who wouldn't want that? However, the decision to convert isn't one-size-fits-all, and there are crucial factors to consider.

➡️ Understanding Roth Conversions: Roth conversions involve transferring money from a pre-tax retirement account to a Roth IRA. While this may sound straightforward, it's essential to grasp the tax implications. When you convert, the amount transferred is treated as ordinary income, subject to your current income tax rate. Therefore, your tax bracket plays a pivotal role in the decision-making process.

➡️ Tax Bracket Considerations: Your tax bracket impacts the cost of conversion. If you're already in a high-income tax bracket, converting may mean paying a significant amount in taxes upfront, potentially diminishing the benefits of a Roth IRA. Conversely, if you're in a lower tax bracket, a conversion could be more tax-efficient.

➡️ Timing Matters: Timing is crucial when considering a Roth conversion. It might make more sense to convert when you expect to be in a lower tax bracket, such as after retirement or during years with reduced income. Assess your future income projections to determine the most tax-advantageous time for conversion. Is a Roth IRA conversion right for you? The answer depends on your individual circumstances. It's crucial to gather information, assess your financial goals, and consult with experts who can help you make an informed decision. Reach out to professionals who can guide you on this journey and ensure that your retirement strategy aligns with your unique needs and aspirations.

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🔔Subscribe to our podcast on your preferred platform to learn more about all things portfolio management.

📺 Watch our weekly YouTube show / @guardingyournestegg

🧑‍💻 For a free financial plan or to talk to an advisor, Click here.

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See omnystudio.com/listener for privacy information.