6.9.2024 I Avoiding Lifestyle Creep
Episode 1 of the Your Money Radio Show podcast, hosted by Wealth Enhancement Group, titled "6.9.2024 I Avoiding Lifestyle Creep" was published on June 9, 2024 and runs 42 minutes.
June 9, 2024 ·42m · Your Money Radio Show
Summary
Lifestyle creep happens when an individual’s income increases along with their spending. Here are some strategies to help you avoid it.
Episode Description
Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. Investing involves risk, including possible loss of principal.
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