On this retirement investing podcast, financial planner Joe Anderson, CFP® and certified public accountant Big Al Clopine answer your money questions...Full Bio
On this retirement investing podcast, financial planner Joe Anderson, CFP® and certified public accountant Big Al Clopine answer your money questions...Full Bio
On this retirement investing podcast, financial planner Joe Anderson, CFP® and certified public accountant Big Al Clopine answer your money questions about investing, portfolio diversification, how to reduce taxes, creating retirement income, collecting Social Security benefits, how much you can spend in retirement, Roth conversions, and more. Retirees and pre-retirees listen to this irreverent and informative personal finance podcast to laugh as they learn strategies that can help them retire successfully. Ask your personal finance questions, read YMYW podcast episode transcripts, and access free financial resources at http://YourMoneyYourWealth.com
How is Kimberly’s strategy for reducing her retirement taxes by doing Roth conversions and qualified charitable distributions? Is Patrick’s tax loss harvesting transaction a wash sale? At what marginal tax rate should Brian stop making Roth 401(k) contributions? Joe Anderson, CFP® and Big Al Clopine, CPA are back this week on Your Money, Your Wealth® podcast 486 to answer these questions and to spitball on the importance of international stock in John in Seattle’s diversified investment portfolio, David and Terri’s Roth conversion and I bond strategy, Blake’s severance package, and the impact of a new home purchase on John in DC's retirement spending. Free financial resources and transcript: https://bit.ly/ymyw-486
DOWNLOAD | Retirement Rescue Guide - limited-time special offer! Download by Friday, July 19, 2024!
WATCH | Retirement Rescue Plan - YMYW TV
DOWNLOAD | Investing Basics Guide
DOWNLOAD | 10 Steps to Improve Investing Success
REGISTER | Equity Compensation Basics Webinar - Wednesday, July 24, 12pm Pacific / 3pm Eastern
Request your own Retirement Spitball Analysis
YMYW on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter
Schedule a free financial assessment
Timestamps:
00:00 - Intro
00:57 - Should We Do Roth Conversions to Top of the 24% Bracket to Minimize $240K I-Bond Profits? (David & Terri, Southern California, voice)
07:32 - Roth Conversion & Qualified Charitable Distribution Strategy Spitball (Kimberly, IA)
13:12 - Should I Take the Severance Package Now at 59 and a Half or Work Until Age 63? (Blake)
18:00 - Is My Tax Loss Harvesting Transaction a Wash Sale? (Patrick, Vancouver, WA)
24:42 - How Important is International Stock in a Diversified Portfolio? (John, Seattle, WA)
30:40 - At What Marginal Tax Rate Should Roth 401(k) Contributions Stop? (Brian, NC)
33:58 - What Impact Will Our New Home Have on Our Retirement Spending? (John in the DC)
42:32 - The Derails
He's 56, she's 32. How does this 24-year age difference impact retirement plans for "Bonnie and Clyde", and what strategies should they implement now for the most tax-efficient retirement possible in the future? While Joe Anderson, CFP® and Big Al Clopine, CPA are on vacation, Your Money, Your Wealth® podcast producer Andi Last enlists the help of Pure Financial Advisors' Managing Director Jake Greenberg, CFP®, ChFC® for a video case study (complete with visual aids!) on YMYW Extra number 6. Into which types of accounts should Bonnie and Clyde save for retirement? How much of their savings should they convert to Roth and when? Free financial resources and transcript: https://bit.ly/ymywe-6
Download the Key Financial Data Guide
Watch the video spitball: https://youtu.be/YwG3pZ3U8IU
Request your own Retirement Spitball Analysis
YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter
Schedule a free financial assessment
01:19 - Bonnie & Clyde's Financial Situation
06:56 - Health Savings Accounts Explained
08:16 - Real Estate Plans
09:42 - Contribute to Brokerage Account or Roth 401(k)?
11:01 - Bonnie & Clyde's Pre-Financial Assessment: A Video Case Study
23:28 - Tax Diversification Visualized
30:02 - Roth Conversions: When and How Much? Current and Future Tax Brackets Visualized
35:53 - Age Difference and Retirement Date Differences
27:15 - Bonnie and Clyde's Cars, Drinks and Pets
39:57 - Final Thoughts
Will their $5 million nest egg get them to ages 85 and 100? Pa and GiDi are 65 and 60 and retiring now. As they consider moving to the no-income-tax state of Nevada in retirement, they have some decisions to make: should Pa take Social Security before age 70? How should they bridge the gap until Social Security? And most importantly, how can they minimize their taxes in retirement? Should they wait to do Roth conversions until after the move? That’s on this bonus episode of Your Money, Your Wealth®, aka YMYW Extra. While Joe Anderson, CFP® and Big Al Clopine, CPA are on vacation, YMYW producer Andi Last enlists the help of senior financial advisor Kyle Stacey, CFP® from Pure Financial Advisors in San Diego, California. Free financial resources and transcript: https://bit.ly/ymywe-5
DIY Retirement Guide - Limited time Special Offer! Download by Friday, July 5, 2024:
https://purefinancial.com/ymyw/#ymyw-special-offer
It's a two-fer! Watch the video spitball for Pa and GiDi from Nick Rose, CFP® from the Pure Financial Advisors office in Woodland Hills, California: https://youtu.be/N-hsXonqgMM
Watch Strategies for Diversifying Concentrated Stock Positions
Request your own Retirement Spitball Analysis
YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter
Schedule a free financial assessment
Timestamps:
00:00 - DIY Retirement Guide Limited-Time Special Offer
01:05 - Intro
02:31 - Pa & GiDi's Cars, Drinks & Finances
07:51 - High-Level Thoughts and Retirement Assumptions
11:26 - Roth Conversions to the Top of the 24% Tax Bracket
12:45 - Claiming Social Security and Portfolio Diversification
13:43 - Other Suggestions
How much do retirees really spend in retirement? Does the Social Security Primary Insurance Amount (PIA) continue to rise with inflation? Is all the talk about higher future tax brackets just fear-mongering? Can "Johnny Mercer" afford to leave money for his heirs, and what should his strategy be for converting his retirement savings to Roth IRA for tax-free growth on his money? While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, Your Money, Your Wealth® producer Andi Last enlists the help of senior financial advisor Rachel Fuss, CFP®, MPH from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in Mercer Island, WA, to see if they can "Ac-cent-tchu-ate the Positive" for Johnny in YMYW Extra number 4. Free financial resources and transcript: https://bit.ly/ymywe-4
Watch the video of this spitball! https://youtu.be/wKi-VDALJAo
Withdrawal Strategy Guide - free download
Request your own Retirement Spitball Analysis
YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter
Schedule a free financial assessment
Timestamps:
00:00 - Intro
01:17 - Johnny Mercer's Cars, Drinks and Pets
02:19 - Will Social Security Primary Insurance Amount Continue to Rise With Inflation?
05:20 - Retirement Spending: What's Reality?
06:40 - Are Future Higher Tax Brackets Just Fear-Mongering?
08:21 - How Much Can We Afford to Spend and Still Leave Money for Heirs?
11:07 - Final Considerations & Roth Conversion Strategy
Cinderella and her Prince Charming have a nest egg of $2.3 million and are hoping for retirement income of up to $150K/year. When can they afford to retire? How should they coordinate paying for some big purchases, paying off debt, and collecting Social Security benefits as they plan for retirement?
While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, YMYW producer Andi Last enlists the help of senior financial advisor Jack Dugan, CFP®, from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in San Diego, to spitball on whether Cindi and her prince can live "happily ever after" on YMYW Extra number 3. Free financial resources and transcript: https://bit.ly/ymywe-3
Watch the video of this spitball! https://youtu.be/zmmCuxEsHiA
Retirement Income Strategies Guide - free download
Request your own Retirement Spitball Analysis
YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter
Schedule a free financial assessment
Timestamps:
00:00 - Intro
02:28 - Cinderella and Prince Charming's Cars, Drinks & Pets
03:38 - How Much Retirement Income Can They Realistically Expect?
14:05 - How to Pay Off Major Purchases?
15:35 - Other Retirement Savings Strategies
Market declines just before you retire, or early in your retirement, can really screw up your retirement income strategy. If you’re in the middle of the expensive kid years, how do you avoid this sequence of returns risk when making your retirement plans? That’s “Jaclyn Smith’s” question, today on Your Money, Your Wealth® podcast 485 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, can Vern’s wife collect Social Security at age 63, then switch to spousal benefits at age 70? Matt wants to know if 2026 catch-up Roth contributions will be subject to the pro-rata rule, and Tom and Amy are trying to figure out how to avoid Medicare’s monthly income-related adjustment amount, or IRMAA, in their plan for Roth conversions. Free financial resources and transcript: https://bit.ly/ymyw-485
How to Build a Recession-Proof Portfolio - YMYW TV
Recession Protection Guide - free download
The Election is Coming: Should You Sell? - read the blog
Investment Vehicle Selection: SMA vs. ETF vs. Mutual Fund – Which One Best Fits You? - read the blog
Is Roth IRA Money Taxed Twice? Watch the latest YMYW Extra
Schedule a free financial assessment
Ask Joe & Big Al for your Retirement Spitball Analysis
Timestamps:
00:00 - Intro
00:49 - How to Minimize Sequence of Returns Risk When Spitballing Retirement in the Expensive Kid Years? (Jaclyn Smith)
17:18 - Collect Social Security Early at Age 63, Then Switch to Spousal Benefits at Age 70? (Vern, Beautiful Portland Oregon)
23:30 - Will 2026 Catch-Up Contributions to Roth Be Subject to Pro-Rata Rule? (Matt, TX)
23:47 - Should We Do Roth Conversions? What About Medicare IRMAA? (Tom & Amy, Northern MN)
31:51 - The Derails
Should Mike in Virginia keep using his IRA money to pay the tax on his Roth conversions? How do you do a Roth conversion when you don’t have the money to pay the tax? That’s PeterLemonJello’s question, but is it the question he should be asking? Spitballing Roth IRA conversion strategies to reduce your taxable required minimum distributions (RMD) in retirement - that’s today on Your Money, Your Wealth® podcast 484 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Susan and Mike in Ohio are retired, in the 24% tax bracket, and considering converting $50k or $75k to Roth - should they do it? How is D-Rock and Matilda’s strategy for selling rental properties and doing Roth conversions as they bridge the gap to early retirement? And finally, how do required minimum distributions work on inherited Roth accounts? Free financial resources and transcript: https://bit.ly/ymyw-484
Navigating Your Financial Future Single - YMYW TV
Going Solo Guide - free download
Asset Location & Roth Conversion Retirement Spitball - YMYW Extra Ep. 1
Ask for your own Retirement Spitball Analysis
Schedule a Free Financial Assessment
Timestamps:
00:00 - Intro
00:54 - How to Pay the Tax on a Roth Conversion: Are You Asking the Right Question? (Peter LemonJello, FL)
05:45 - Should I Keep Doing Roth Conversions and Paying Tax from the IRA? (Mike, VA)
14:24 - Retired, in the 24% Tax Bracket. Should We Convert $50-$75K to Roth in 2024? (Susan, OH)
18:28 - Roth Conversions and Selling Rental Property to Bridge to Early Retirement (D-Rock & Matilda, New York)
28:11 - Required Minimum Distributions for Inherited Roth IRAs Explained (Elisa, Fremont)
34:12 - The Derails
Sunshine in Orange County has been waiting patiently since January for a full Retirement Spitball Analysis: how are her assumptions for rates of return and inflation, her plans for Roth conversions, her asset allocation and asset location, her tax planning, her retirement income and retirement spending plans, and so much more? What missed opportunities is she overlooking?
So many excellent Retirement Spitball requests have come in that Your Money, Your Wealth® hosts, Joe Anderson CFP®, and Big Al Clopine CPA can't handle them all.
On these bonus episodes, called YMYW Extra, producer Andi Last enlists the help of the experienced professionals on Joe and Big Al's team at Pure Financial Advisors. In today's YMYW Extra number 1, thanks to David Cook, CFP® from Pure Financial's San Diego headquarters, Sunshine finally gets her Retirement Spitball Analysis. Free financial resources and transcript: https://bit.ly/ymywe-1
Request your own Retirement Spitball Analysis
EASIretirement.com - free retirement calculator
Why Asset Location Matters - download the free guide
More Guides | Blogs | Educational Videos | YMYW Newsletter
Schedule a free financial assessment
Timestamps:
00:00 - Intro
02:35 - Rate Assumptions
05:58 - Retirement Spending
06:54 - Retirement Income Strategy
12:08 - Retirement Planning: Asset Allocation vs. Asset Location
15:50 - Sequence of Returns Risk
17:53 - Social Security Tax Torpedo
20:01 - Goals & Questions
22:50 - Other Strategies: Qualified Charitable Distributions
24:23 - IRMAA & Tax Optimization
26:37 - Likelihood of Success & DIY Tools
Are women better investors and financial planners? Today on Your Money, Your Wealth® podcast 483 with Joe Anderson, CFP® and Big Al Clopine, CPA, three different husbands want to retire, while their wives feel they need to work longer. Can Jack and Diane, Mark and Belle, and Mike and his wife hit the slopes now, or do they need to keep wearing their suits? Joe and Big Al spitball on who’s right. Plus, should Ellie take her pension in a lump sum or in monthly annuity payments? The fellas also consider a solo 401(k) strategy for self-employed types from our buddy Will. Free financial resources and transcript: https://bit.ly/ymyw-483
Withdrawal Trap Doors: How to Avoid Them - Watch YMYW TV
Withdrawal Strategy Guide - free download
Subscribe to YMYW on YouTube - comments are now open!
Ask Joe & Big Al On Air for a Retirement Spitball Analysis
Schedule a Free Financial Assessment
Timestamps:
00:00 - Intro
00:40 - Can We Retire Now or Do We Need to Wait a Few Years? (Jack & Diane, Houston - voice)
09:35 - How to Bridge the Gap in Early Retirement? (Mark & Belle, VA)
19:44 - Help Me Convince My Wife to Retire This Summer! (Michael, MN)
26:28 - Should I Take the Pension Lump Sum or Monthly Annuity Payments? (Ellie, PA)
31:52 - How’s My Solo 401(k) Contribution Strategy? (Will)
36:51 - The Derails