Multi-Million Dollar Retirement: Roth Conversions & Estate Planning
What does it take to manage a multi-million dollar portfolio once you’ve stopped adding to it? In this episode of Money Matters, Scott and Pat dive into the complexities of high-net-worth retirement, focusing on the critical shift from "saving" to "strategic spending."
Through real-world case studies, they explore why "tax location" is often more important than "tax allocation," particularly when it comes to bonds and individual stocks. They also tackle the psychological side of wealth—learning how to upgrade your standard of living and find joy in charitable giving through "warm hand" estate planning.
In this episode, they discuss:
- Markets & AI: The impact of economic warfare and whether AI productivity gains are sustainable.
- Prediction Markets: Why you should be wary of platforms like Polymarket and Kalshi.
- Portfolio Cleanup: Why "over-diversifying" into 30+ funds can be a retirement trap.
- Strategic Giving: Using the "warm hand" approach to fund legacies and charitable causes today.
- Roth Conversions: Navigating tax efficiency for portfolios in the $2M–$10M+ range.
Featured Case Study: A deep dive into bond location and estate planning for a multi-million dollar estate.
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