Are You Cutting Retirement Too Close? - 542
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 12 August 2025
⏱️ 36 minutes
🧾️ Download transcript
Summary
"Rubble and Skye" in Minnesota want to spend $65,000 a year in retirement, and they’ll have $67K in annual fixed income. Are they cutting it too close? "Atouk and Tala" in New Jersey will have retirement money, Social Security, and “Lumpy,” their lump sum pension - will they be okay? We’ll find out today on Your Money, Your Wealth® podcast number 542 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, should David in Redondo Beach California use his Roth money to buy a home? And what do the fellas think about "Charlie Pepper" in Colorado using a home equity line of credit (HELOC) for retirement spending, instead of living off of pre-tax money?
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Timestamps:
00:00 - Intro: This Week on the YMYW Podcast
00:43 - $250K Saved, $67K Fixed Income, $65K Spending. Are We Cutting Retirement Too Close? (Rubble & Sky, MN)
05:20 - We Have a $700K Pension, $335K Retirement, Plus Social Security. Will We Be OK? (Atouk and Tala, NJ)
13:14 - Watch Financial Boot Camp on YMYW TV, Download the Investing Basics Guide
14:03 - Should I Use My Roth Money for a Home Purchase? (David, Redondo Beach, CA)
21:03 - Complete the 8th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (secret password: ymyw)
22:01 - HELOC vs. Pre-Tax Account for Retirement Spending (Charlie Pepper, CO)
34:23 - Next Week on YMYW Podcast: Guest Co-Host Marc Horner, CFP®
34:53 - YMYW Podcast Outro
Transcript
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| 0:00.0 | Rubble and Sky in Minnesota want to spend $65,000 a year in retirement, and they'll have $67,000 in annual fixed income. |
| 0:08.6 | Are they cutting it too close? |
| 0:10.3 | Atuk and Tala in New Jersey will have retirement money, Social Security, and Lumpy, their lump sum pension. |
| 0:16.8 | Will they be okay? |
| 0:18.0 | We'll find out today on Your Money, Your Wealth, podcast number 542. |
| 0:22.0 | Plus, should David in Redondo Beach, California, use his Roth money to buy a home? |
| 0:26.7 | And what do the fellows think of Charlie Pepper in Colorado using a home equity line of credit |
| 0:30.9 | or he lock for retirement spending instead of living off of his pre-tax money? |
| 0:35.4 | I'm executive producer Andy Last, and here are the hosts of your money, your wealth, |
| 0:39.7 | Joe Anderson, CFP, and Big Alclopine CPA. |
| 0:43.1 | All right, we got Rubble and Sky. |
| 0:46.5 | That's from Paw Patrol. |
| 0:48.2 | Oh. |
| 0:48.9 | Not sure if you know that one from being a parent now for the last few years. |
| 0:52.3 | Yes. |
| 0:53.3 | Paw Patrol is on every morning you know |
| 0:58.1 | rubble in sky personally oh yeah yep whenever you're in trouble pop patrol pop baby got it |
| 1:06.9 | i'll get there on the double i take it it that's a cartoon. Yeah, right there. |
| 1:11.4 | There's Paw Patrol. Oh, there it is. Okay. So there's 65. When I'm 65, I'm going to be watching |
| 1:20.7 | Paw Patrol for sure. Going to pop out some more. My husband and I are 65. We enjoy a little Corona. He enjoys Corona, and I enjoy |
| 1:32.2 | Pinot Grisio. We drive older, paid out vehicles. My husband has worked in manual labor's |
| 1:38.4 | whole life and is done working at the end of this year. His words, I'm not sure we're ready. We need about |
... |
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