PODCAST EPISODE 190: COVID CARES Act Roth Conversation + What We Learned From Trump’s Tax Returns

ByPaul Adams
YouTube player

EPISODE SUMMARY

If you had an opportunity to use the IRS’s money to reinvest in a Roth would you take it? Of course! That opportunity is here. Paul and Cory discuss on a part of the CARES Act that allows you access to your 401k or IRA penalty-free.

WHAT WAS COVERED

  • 00:00 – Special welcome message
  • 00:30 – Show starts
  • 01:05 – Paul welcomes listeners
  • 03:00 – What’s in the news today
  • 05:29 – Where the tax brackets have been
  • 08:10 – The new Sound Financial Group CFS (COVID Financial Strategy)
  • 11:50 – What qualifies you for the first strategy
  • 15:20 – Our unique Roth conversion
  • 22:05 – Reaching out for assistance
  • 24:36 – Why big-box retailer isn’t using this strategy
  • 26:00 – Paul’s encouragement to the listeners
  • 28:15 – Wrapping up the episode
  • 29:01 – Show ends, thank you for listening

TWEETABLES

[Tweet “We have not seen tax legislation that waves penalty fee’s since the advent of the Roth account. #YourBusinessYourWealth”]

[Tweet “Those of us that have accumulated more wealth, Those of us that have higher levels of income are going to be taxed more heavily. #YourBusinessYourWealth”]

[Tweet “big-box financial retail won’t show this CARES Act strategy… #YourBusinessYourWealth”]

LINKS

Access to our Covid Related Roth Conversion Strategy

Curious what you can accomplish with our help? Schedule a free 15-minute meeting with us! sfgwa.com/scheduling

Sound Financial Group’s Website for a Financial Inquiry Call – [email protected] (Inquiry in the subject)

Your Business Your Wealth on Instagram

Your Business Your Wealth on Facebook

Sound Financial Group on LinkedIn

Paul Adams on LinkedIn

Cory Shepherd on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Clockwork: Design Your Business to Run Itself

Mike Michalowicz’s Book – Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Loserthink: How Untrained Brains Are Ruining America

SHARE THE SHOW

Did you enjoy the show? We would love it if you subscribed today and left us a 5-star review!

Click this link – Your Business Your Wealth

Click on the ‘Subscribe’ button below the artwork

Go to the ‘Ratings and Reviews’ section

Click on ‘Write a Review’

MUSIC CREDITS

Contains a sample of “King” by Zayde Wølf courtesy of Lyric House.

——————————————————————————————————————————-

Transcribed by https://otter.ai

This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation.

Sound Financial Inc. dba Sound Financial Group is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Insurance products and services are offered and sold through Sound Financial Inc. dba Sound Financial Group and individually licensed and appointed agents in all appropriate jurisdictions.

This podcast is meant for general informational purposes and is not to be construed as tax, legal, or investment advice. You should consult a financial professional regarding your individual situation. Guest speakers are not affiliated with Sound Financial Inc. dba Sound Financial Group unless otherwise stated, and their opinions are their own. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. Past performance is not a guarantee of future results.

Each week, the Your Business Your Wealth podcast helps you Design and Build a Good Life™. No one has a Good Life by default, only by design. Visit us here for more details:

yourbusinessyourwealth.com

© 2020 Sound Financial Inc. yourbusinessyourwealth.com

PRODUCTION CREDITS

Podcast production and show notes by Greater North Productions LLP

Recorded using Switcher Studio: [email protected]

Avatar photo
Paul Adams

Author

Paul Adams

CEO & Founder

As CEO and founder of Sound Financial Group Paul leads a team of financial professionals dedicated to helping clients define their financial goals then developing unique, tailored strategies to reach them. Paul tells his clients often that they should always make their financial decisions based upon indisputable math and independent scholarship, not based on media hype, hearsay, or trend.

Financial Advisor
Disclosure

Related Posts

  • PODCAST EPISODE 146: THE EXCITEMENT TRAP WITH DREW KNOWLES

    EPISODE SUMMARY In this episode of Your Business, Your Wealth, Paul and Cory welcome VP of Influence Ecology and expert of human performance and behavior, Drew Knowles to analyze the break down the Excitement Trap. Drew expounds on the biology of excitement and explains how it can have a negative impact on you in the marketplace. Paul, Cory, and Drew…

  • PODCAST EPISODE 232: Ugly Retirement Decisions in a Wild Market!

    WHAT WAS COVERED [Tweet “One way that I cultivate contentment in my own life is looking back. I would rather be living today rather than any time in history, because the resources are so abundant. #YourBusinessYourWealth”] [Tweet “One of the best things you can do is own assets in an inflationary environment. #YourBusinessYourWealth“] [Tweet “Addressing Social Security literally has to happen or…

  • PODCAST EPISODE 213: Are you taking Social Security at the right time?

    EPISODE SUMMARY Topics Covered in Today’s Episode:  Here’s Exactly How to Optimize for the $3,895 Social Security Monthly Max (By The Motley Fool) WHAT WAS COVERED [Tweet “There is a long-time economics principle that is far to often left out of personal finance and that is: lost opportunity cost and time value of money. #YourBusinessYourWealth”] [Tweet “I’ve talked to clients before…

  • Podcast Episode 67: Questions From Aviv’s New Book, Create New Futures

    EPISODE SUMMARY Aviv Shahar is a former fighter pilot of the Israeli military, host of the Create New Futures Podcast and author of the book, Create New Futures. Aviv helps company executives become transformational leaders and to create new futures. In this episode I speak to him about how your present and future can update your past and how understanding…

  • PODCAST EPISODE 312 – Why Active Management Doesn’t Work

    Active asset managers promise market-beating returns, but the data tells a different story. In this episode of More than Commas, Cory explores why 90% of actively managed funds underperform over time and how patience, simplicity, and low-cost investing outperform stock-picking strategies. Through stories of legendary investors like Warren Buffett and everyday savers like Ronald Read, we uncover the power of long-term…