Does Your Financial Advisor Just Want to Collect Fees? - 473
Your Money, Your Wealth
Your Money, Your Wealth
4.6 • 794 Ratings
🗓️ 19 March 2024
⏱️ 47 minutes
🧾️ Download transcript
Summary
Why would a financial advisor suggest that Frank in Lake Wobegon sell a piece of inherited property, pay 25% tax, and invest the lump sum? Mark in Florida is 72 and invested in CDs. Should he go back to his financial advisor, or just buy more CDs? That's today on Your Money, Your Wealth® podcast 473 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Adam in Tennessee will have deferred income in 5 years. Should his asset allocation be more conservative? And in order to retire early at age 55, should Lewis in Arkansas delay starting Roth conversions? But first, if Mike's wife outlives him, how can he keep her in a similar tax bracket? Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-473
Timestamps:
- 00:00 - Intro
- 00:48 - If My Wife Outlives Me, How Do We Keep Her in a Similar Tax Bracket? (Mike)
- 06:49 - Long Term Capital Gains: Retirement and Real Estate Spitball (Frank, Lake Wobegon)
- 15:58 - 10 Tax-Cutting Moves to Make Now - YMYW TV
- Top 10 Tax Tips - free download (for a limited time only!)
- 2024 Tax Planning webinar
- 17:04 - I'm 72. Should I Go Back to an Advisor or Just Buy More CDs? (Mark, FL)
- 21:32 - Should My Deferred Income Asset Allocation Be More Conservative? (Adam, Franklin, TN)
- 30:16 - Investing Basics Guide - free download
- 31:13 - Should We Delay Starting Roth Conversions to Retire Early by Age 55? (Lewis, AR)
- 41:11 - The Derails
Transcript
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| 0:00.0 | Why would a financial advisor suggest that Frank in Lake Wobagon sell a piece of inherited property, pay 25% tax, and invest the lump sum? |
| 0:09.9 | Mark in Florida is 72 and invested in CDs. |
| 0:13.3 | Should he go back to his financial advisor or just buy more CDs? |
| 0:17.4 | That's today on your money, Wealth podcast number 473. |
| 0:21.3 | Plus, Adam in Tennessee will have deferred income in five years. |
| 0:24.6 | Should his asset allocation be more conservative? |
| 0:27.8 | And in order to retire early at age 55, should Lewis in Arkansas delay starting Roth conversions? |
| 0:34.7 | But first, if Mike's wife outlives him, how can he keep her in a similar tax |
| 0:39.6 | bracket? I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, |
| 0:45.0 | CFP, and Big Al-Clopine CPA. |
| 0:48.3 | Hi, Andy, Joe. Yeah. You may want to skip to the bottom for my question. |
| 0:53.4 | The very last sentence. |
| 0:55.0 | Should we do it? |
| 0:55.9 | Sure. |
| 0:56.2 | Let's do it. |
| 0:56.8 | I got to read it. |
| 0:59.0 | You want to go to the whole thing? |
| 1:01.7 | I enjoy the podcast while I'm exercising or walking my two and a half-year-old golden retriever, |
| 1:08.3 | who is well-trained expert who cannot contain his joy when meeting new |
| 1:13.5 | people. It may try jumping on them. I've been listening for a few years and sent a crappy limerick |
| 1:20.2 | when that was a thing. You remember that one? Yeah, I do. Yeah, that was a long time ago. |
| 1:24.9 | I loved this. I liked it myself. Wow. |
... |
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