Can You Retire at Age 57 and Spend Big? - 543

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 19 August 2025

⏱️ ? minutes

🔗️ Recording | iTunes | RSS

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Summary

Is it possible, common even, to spend a lot early in retirement to celebrate your financial freedom? How do Roth conversions and withdrawals work if you do plan to call it quits around age 57, and spend big early on? Should you convert retirement funds to tax-free Roth after you stop working? Joe Anderson CFP® and our special guest co-host, Marc Horner, CFP® spitball on these topics for "Beavis and Daria" in Texas and "Clark Kent" in Pennsylvania, today on Your Money, Your Wealth® podcast number 543. Plus, the sooner 56-year-old "Tony Soprano" in New Jersey can retire, the better. What tips do Joe and Marc have for him? By the way, Marc is one of the newest principals here at Pure Financial Advisors. He’s the founder of Fairhaven Wealth Management, which has just become the newest Pure Financial Advisors Chicagoland office in Wheaton, Illinois - so help us welcome him for his YMYW debut.

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Timestamps:

00:00 - Intro: This Week on the YMYW Podcast

01:00 - Spending Higher Earlier in Retirement to Celebrate? How to Convert? Where to Withdraw? (Beavis & Daria, TX)

12:30 - Watch Withdrawal Trap Doors on YMYW TV and Download the Withdrawal Strategy Guide for free

13:36 - Can I Retire at 57 Even With a High Draw Down Rate? Should I Convert After Retirement? Should I Consider an Annuity? (Clark Kent, PA)

28:23 - Complete the 8th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (secret password: ymyw)

29:09 - When Can I Retire? The Sooner the Better. (Tony Soprano, NJ)

37:43 - Next Week on the YMYW Podcast

38:01 - YMYW Podcast Outro

Transcript

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0:00.0	Is it possible, common even, to spend a lot early in retirement to celebrate your financial freedom?
0:05.9	How do Roth conversions and withdrawals work if you do plan to call it quits around age 57 and spend big early on?
0:12.6	Should you convert retirement funds to tax free Roth after you stop working?
0:16.8	Joy Anderson, CFP, and our special guest co-host, Mark Horner, CFP,
0:22.3	spitball on these topics for Beavis and Darya in Texas, and Clark Kent in Pennsylvania. Today on Your Money, Your Wealth
0:27.8	podcast number 543. Plus, the sooner 56-year-old Tony Soprano in New Jersey can retire, the better.
0:34.7	What tips do Joe and Mark have for him by the way Mark is one
0:37.8	of the newest principles here at pure financial advisors he's the founder of
0:41.6	Fair Haven wealth management which has just become the newest pure
0:44.7	financial advisor Chicago land office in Wheaton Illinois so help us welcome him for
0:49.5	his YMIW debut I'm executive producer Andy Last and here are the hosts of your
0:54.0	money your wealth Joey Anderson CFP and sitting in for Big Al Clopine C YW debut. I'm executive producer Andy Last and here are the hosts of Your Money, Your
0:54.5	Wealth, Joey Anderson, CFP, and sitting in for Big Al-Clobine CPA for the next two episodes,
1:00.0	Mark Horner CFP. Mark, first time. So there's a couple rules. No advice given. Right.
1:08.2	And we'll just kind of spitball of what direction that our listeners want to
1:13.4	where they should go with with some of the answers that we're going to give i'm with you
1:18.9	can i can i throw out one suggested rule sure uh keep the hate mail that about where's big
1:25.2	al down uh to it to an absolute an absolute minimum i mean i got
1:29.0	i got some i'm trying to step into some big shoes here today so so bear with me yeah but well big
1:34.4	al is halfway into retirement so we got to we got to figure something out so all right let's uh let's get
1:40.8	to this it's uh how do y'all uh it's it's Beavis and Darya. No, Beavis. I was going to say, you get both of those references, right? You got Beavis from Beavis and Butthead and you got Darya, both of which were animated TV shows from the 90s, I guess. So this is totally Gen X. Well, did you know that Beavis is actually a financial planner?
2:03.7	What?
	...

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