Summary: <br> Taxes suck. They erode away your income, savings and investments. One strategy to maximize your retirement savings is to convert your IRA to a ROTH IRA. ROTH IRAs are a powerful tool to help you do this but there are lots of tax and planning issues to consider first.<br> That's why I turned to <a href="http://www.theslottreport.com/" target="_blank" rel="noopener">Ed Slott</a>, America's IRA expert. He is a nationally recognized IRA-distribution expert, a professional speaker, and the creator of several public television specials, including the most recent, Ed Slott’s <a href="https://www.youtube.com/playlist?list=PL06A15095BC711D86" target="_blank" rel="noopener">Retirement Rescue!</a><br> Investing Corner--The Importance of Dividends<br> When most people thing of making money in equities, they think of buying low and selling high. That's a great strategy, but it's only part of the story. This week I explore the importance dividends can have in any investment portfolio.<br> I discuss these 5 reasons dividend can be a benefit to any portfolio:<br> <br> * How dividends have comprised over 50% of the total return of the S&P 500 index<br> * The favorable tax treatment dividends can receive<br> * How dividends can be a good hedge against inflation<br> * Why dividends can help you control risk in your portfolio<br> * What are the attributes of most companies that pay dividends<br> <br> Retirement Tip of the Week<br> During my conversation with Ed Slott, we cover:<br> <br> * Best places to save for retirement<br> * The benefit of contributing to a ROTH IRA<br> * Ed's "Forever Tax to Never Tax" strategy using a ROTH IRA<br> * The importance of understanding the ROTH IRA conversion rules<br> * When it doesn't make sense to use a ROTH IRA<br> * How to use ROTH IRAs as an estate planning vehicle<br> * The types of people that should consider converting to a ROTH IRA<br> * The order to draw from your taxable, IRA & ROTH IRA accounts during retirement<br> * The benefits of drawing from your IRA in order to delay Social Security during retirement<br> * Biggest mistakes people make with IRAs<br> <br> Have you considered converting to a ROTH IRA?<br> If you have a question, ask me here and I'll respond.<br> Read the Full Transcript<br> [spoiler] The Retirement Answer Man Episode #29<br> Well, hi there! Good morning or good evening or good afternoon, whatever time of day you’re listening to this. My name is Roger Whitney and welcome to The Retirement Answer Man. This is the show dedicated to helping you live well today without sacrificing your tomorrow. Financially speaking, I think that’s what we’re all trying to do ultimately. I know that’s what I work towards in my life.<br> I’m excited that you’re here with me today. We have two great topics that will help you along that journey.<br> In our Investing Corner, we’re going to talk about dividends and the importance – historically – dividends have had to the total return of an investment portfolio and why dividends might be an important part of any investment strategy, not just when you’re closer to retirement.<br> And then, in our Retirement Tip of the Week – and I think I need to rename that so, if you have any suggestions, shoot me an email at <a href="mailto:roger@wwkllc.com">roger@wwkllc.com</a> with a name. I don’t like the “Retirement Tip of the Week” anymore since it’s a regular segment. But, anyway, I talk with Ed Slott. Ed is the IRA expert, educator extraordinaire on the rules and strategies surrounding IRAs and ROTH IRAs and retirement planning in general. Ed has a wealth of knowledge and we had a great conversation about a lot of these rules and strategies that I think you’ll find really helpful.<br> You can find me, Roger Whitney, at my home on the internet at rogerwhitney.com – that is the home of The Retirement Answer Man and that is also the ...
