1060. Dreaming of retiring early or taking an extended career break, but worried your money is locked away until age 59.5? Host Laura Adams explains a powerful strategy to retire early and avoid expensive penalties.

Key Takeaways

• A Roth conversion ladder allows early retirees to move tax-deferred funds into a Roth IRA and access the converted amount tax- and penalty-free before 59.5.
• Each Roth conversion requires a separate five-year waiting period before you can withdraw it penalty-free.
• Building a Roth conversion "ladder" means executing annual conversions so that starting in year six, you unlock a new amount of penalty-free funds to spend.
• Doing Roth conversions in low-income years, such as at the start of early retirement, allows you to pay less income tax.
• Have a plan to pay taxes on a Roth conversion from savings or a taxable brokerage account and not from your retirement account.
• Be aware that having higher income due to a Roth conversion could inadvertently reduce ACA health care subsidies.

Discover more from Money Girl!

Facebook

Newsletter

Transcripts available at QuickandDirtyTips.com.

Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

Hosted on Acast. See acast.com/privacy for more information.

1059. Host Laura Adams sits down with Courtney Alev, Consumer Financial Advocate and Director of Product Management for TurboTax. They discuss real listener questions about budgeting, tax refund strategies, and paying down debt. You’ll learn strategies and tips for saving more, managing debt wisely, adjusting tax withholding, and curbing impulse spending to improve your financial life.

Key Takeaways

• Treat savings like an essential bill or subscription by automatically transferring even a small amount into a dedicated savings account every payday before paying other expenses.
• Tracking your total monthly spending is the best way to take control of your cash flow and see where small cuts can make a big difference.
• Rent is the maximum you might pay per month, but a mortgage is the minimum, due to property taxes, insurance, maintenance, and unexpected repair costs.
• A large tax refund means you overpaid taxes throughout the year; however, you may be able to adjust your W-4 withholding for higher monthly paychecks.
• Tackle credit card balances from highest to lowest interest rate to save the most money over time.
• Pause for at least 24 hours before making a non-essential purchase over a certain amount to help eliminate impulse purchases.

Discover more from Money Girl!

Facebook

Newsletter

Transcripts available at QuickandDirtyTips.com.

Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

Hosted on Acast. See acast.com/privacy for more information.

952. Not sure whether you need a financial advisor, or which kind to look for? Laura Adams explains the seven types of financial professionals: bankers, insurance agents, tax accountants, estate attorneys, stockbrokers, registered investment advisors (RIAs), and certified financial planners (CFPs). She covers what each one does, how each is paid, and which are fiduciaries legally required to act in your best interest.

You'll learn the difference between fee-only, fee-based, and commission-based advisors, and how to spot conflicts of interest. Laura also shares where to search for and verify credentials, including LetsMakeAPlan.org, FINRA.org, AdviserInfo.SEC.gov, the IRS preparer search tool, and the National Association of Personal Financial Advisors. She closes with a list of questions to ask in a first meeting. These are especially helpful after a windfall, a new business, a divorce, a growing family, or when you're planning for retirement.

This episode originally ran in August 2025.

Discover more from Money Girl!

Facebook

Newsletter

Transcripts available at QuickandDirtyTips.com.

Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

Hosted on Acast. See acast.com/privacy for more information.