Don’t Retire Until You Can Answer These Five Practical Questions - 381

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

🗓️ 7 June 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Joe Anderson, CFP® and Big Al Clopine, CPA are all about having a plan for retirement. Using examples from past YMYW episodes, they cover five questions you need to answer before you retire - so you can stay retired. Show notes, free financial resources to help you answer each question, and Ask Joe & Al On Air: https://bit.ly/ymyw-381

1. Can We Afford to Retire?
2. When Should We Claim Social Security?
3. How Can We Reduce Taxes in Retirement?
4. Are We Prepared for Medical Costs?
5. How Will We Fill Our Time?

Transcript

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0:00.0	Joe and Big Al are all about having a plan for retirement. Today on Your Money, Your
0:05.2	Wealth podcast number 381, using examples from past YMIW episodes, will cover five questions
0:11.9	you need to answer before you retire so you can stay retired. Click the link in the description
0:17.4	of today's episode, your favorite favorite podcast app to access free financial resources
0:21.6	to help you answer each retirement question and to send in your own money queries click ask joe and big
0:27.9	out on air in the podcast show notes and send them in as an email or a priority voice message i'm producer
0:33.7	andy last with the hosts of your money your wealth joe and Jill Anderson, CFP, and Big Al Clopin CPA.
0:39.9	The first question you need to answer before you retire is, can we afford to retire?
0:45.1	I got a surprise for you.
0:46.9	Yeah, I heard.
0:47.9	We got a new retirement calculator.
0:49.8	Yeah, this is original content by Al and Clopine.
0:53.3	All right, let's see it.
0:55.2	So because Joe, we're about to start up our new TV show season, so I'm trying to come
0:59.3	up with some new thoughts because this is season five.
1:02.2	And it's like, how many ways can you have a show to say, here's how you figure out you're
1:05.2	on track for retirement?
1:06.2	Right.
1:07.2	So I guess the formula, and people have heard us say this before, but I will repeat it.
1:12.4	Like, let's just say, you know, you want to spend $75,000 in retirement.
1:18.5	So, and most people don't even know what they're spending.
1:21.7	So take a start, take a look at your net pay.
	...

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