Early Retirement: Can You Afford to Retire Now? - 320

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

🗓️ 6 April 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

William has investing experience, money in the bank, and a retirement plan. Is he ready for early retirement at age 59.5? Plus, BRRR real estate investing and Roth IRA, Backdoor Roth conversions, and "Megatron" Roth contributions. Also, capital gains vs ordinary income, and are restricted stock units (RSU) ordinary income? Do they impact Social Security benefits? When can you collect spousal Social Security? Access the transcript and financial resources, ask your money questions: https://bit.ly/YMYW-320

Transcript

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0:00.0	Today on Your Money, Your Welts podcast number 320, William has investing experience, money in the bank, and a plan for retirement.
0:09.1	So, do Joan Begal think he's ready for early retirement now at the age of 59 and a half?
0:14.7	Plus, BRRRR real estate investing and Roth, Backdoor Roth, and Megatron Roth conversions.
0:22.9	Also, a capital gains and ordinary income case study, again, and RSUs or restricted stock
0:29.6	units. Are they ordinary income and how do they impact Social Security? Speaking of which,
0:35.0	when exactly can a spouse begin collecting spousal social security benefits?
0:39.3	Click Ask Joe and Al on air at Your Money, Your Wealth.com to send in your money questions to be answered here on the YMIW podcast.
0:48.3	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Joe Anderson CFP and Big Al Clopine CPA.
0:56.8	William writes in, hi Joe and Big Al, looking for a second opinion if I can retire at each 59.5. Right now.
1:04.4	You got $1.8 million in investments. 1.1 in a 403B, $250,000 in a brokerage account. $450,000 in Roth IRAs.
1:14.6	I am an accountant. I have an MBA finance and been investing 30 years in a very experienced in the market.
1:23.6	I'm a D.YI investor, Investor, annual income of 130,000.
1:29.8	Okay. Well, what the hell are you writing into us for, Bill?
1:33.6	Because he just wants a second opinion.
1:36.0	Dude, the guy, I'm an MBA. I am an accountant.
1:41.3	You kneel down to me. I have very experienced investor.
1:45.7	I want to see what you check.
1:48.6	I have to say.
1:50.6	Well, where does he go with this?
1:52.3	Okay.
1:53.1	In retirement, I plan to spread my money over mutual funds,
1:56.5	ETFs, enclosed in funds, CEFs.
	...

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