Stay NJ part III

Stay NJ Changes in 2026 Stay NJ part 1:    • The Stay NJ Program   Stay NJ part 2:    • The Stay NJ Program part II   Speak with us: https://mullooly.net/contact Stay NJ: Roth Conversions, Income Cliff, and Retirement Planning Risks Should New Jersey residents age 65+ make near-term planning changes, like Roth conversions, based on potential changes to the Stay NJ property tax relief program? As of mid-May 2026, proposed updates would lower the income eligibility cap from $500,000 to $250,000 and also reduce the maximum benefit from $6,500 (up to 50% of property taxes) to $4,000. Nothing is final at the time of this recording. The Stay NJ income calculations are broader than NJ taxable income. The income included in calculating the Stay NJ income cap include Social Security, certain pension and annuity income, IRA/401(k) distributions (including RMDs), and even tax-free Roth IRA distributions. Because the Stay NJ threshold is a cliff (there is no phase-out), you have to weigh whether it's worth it: a potentially changing annual benefit vs. long-term tax-free compounding. And staying in control of your financial decisions (not relying on Trenton). 00:00 Stay NJ Changes Looming 00:28 Program Basics and Proposed Cuts 01:23 What Counts as Income 02:20 Roth Distributions Surprise 02:42 The Income Cliff Rule 03:02 Roth Conversions vs Benefit Math 04:10 Planning Without Policy Bets 05:18 Build Durable Retirement Plans Key Takeaways: Stay NJ eligibility rules may change as early as fiscal year 2027. Roth IRA distributions currently count toward Stay NJ income limits. The proposed Stay NJ income threshold may drop from $500,000 to $250,000. Retirement planning decisions should consider both long-term tax strategy AND changing state programs. A durable retirement plan may depend more on financial decisions YOU can control. Keywords & Phrases #StayNJ, #NewJerseyRetirement, #RothConversions, #RetirementPlanning, #PropertyTaxRelief, #NJTaxes, #RothIRA, #RequiredMinimumDistributions, #RMDs, #RetirementIncome, #FinancialPlanning, #NJRetirees, #TaxFreeGrowth, #RetirementTaxPlanning, #SocialSecurityIncome, #IRAWithdrawals, #401kDistributions, #RetirementStrategy, #NewJerseyPropertyTaxes, #TaxPlanningForRetirees, Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. We act in a fiduciary capacity with our clients at all times. We primarily work with individuals and couples in Central New Jersey with at least $250,000 in investable assets. Our family of investments advisors (Tom, and his three sons - Brendan, Tim and Casey) are all CFP® Professionals. To our knowledge, WE ARE THE ONLY FAMILY firm - in the nation - with four fiduciary, fee-only investment advisors who all have earned CERTIFIED FINANCIAL PLANNER™ certification. The "Mullooly Asset Show," has over 350 episodes and over 450 unique podcasts, which can be found on the site https://www.mullooly.net. The "Mullooly Asset Show" answers questions and cover topics that YOU bring up. Our topics and questions range from those brought up, or sent in, by our viewers. Get in touch with us here: Mullooly Asset Management 1971 State Route 34 Wall Township, New Jersey 07719 Phone: 732-223-9000 Website: https://mullooly.net Facebook: www.facebook.com/MulloolyAsset Twitter: @mulloolyasset LinkedIn: @mullooly-asset-management Email: [email protected] This content is provided for informational purposes only and does not constitute personalized investment, tax, legal, or accounting advice, and should not be relied upon as such. Mullooly Asset Management, Inc. is not endorsing practices, products, or services that may be mentioned, and highly recommend consulting with a licensed financial professional about your own specific goals and circumstances prior to engaging in any financial decisions. Investing involves the risk of loss. Employees of Mullooly Asset Management, Inc. may maintain positions in securities discussed, however absolutely none of this is a solicitation or recommendation to buy or sell. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decisions. Past performance is not indicative of future results. This content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice.