Early Retirement Spitball Analysis - 341

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

🗓️ 31 August 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Some YMYW listeners have had enough of the 9 to 5 and are ready to punch early. Joe & Big Al spitball on whether they’re financially ready for a long, early retirement. Plus, the ever-popular Roth IRA conversions: how much to convert to Roth, when and how to pay tax on a Roth conversion, and why not pay tax on Roth conversions out of the retirement account you’re converting from? Podcast survey (final day!), financial resources, Ask Joe & Big Al On Air in the podcast show notes: https://bit.ly/ymyw-341

Transcript

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0:00.0	Today is the last day. Tell us your opinions about the YMIW podcast by 4 p.m. Pacific Time today, August 31st, 2021, for your chance to win that $100 Amazon E gift card.
0:13.2	Click the link in the description of today's episode in your podcast app to go to the show notes and access the survey using the word pure p u.s. residents only no purchase necessary
0:24.6	survey giveaway closes and winter will be chosen today at 4 p.m. Pacific time now some YMIW listeners
0:31.5	have had enough of the 9 to 5 and they're ready to punch early today on your money your wealth
0:36.9	podcast number 341,
0:38.8	join Big Al Spitball on whether they are financially ready for a long and early retirement.
0:44.1	Plus, the ever-popular Roth IRA conversions, how much to convert to Roth, when and how to pay
0:49.1	the tax on a Roth conversion, and why not just pay Roth conversion taxes out of the retirement
0:53.7	account you're
0:54.3	converting from? I'm producer Andy Last, and here are the hosts of your money, your wealth,
0:59.9	Joe Anderson, CFP, and Big Al Clopin CPA.
1:04.0	YMYW team. I really enjoy your show. Thank you for all the information. Share. I started listening
1:09.4	back in 2019 during my one-hour commute in my 2013 Mazda hatchback.
1:16.1	But I've been mostly working from home, so now listening to your show helps me mentally separate the work time from home time since I don't commute as much.
1:25.0	Oh.
1:25.6	I'm 37. My wife is 41.
1:27.4	We've saved $2.3 million take for our early retirement.
1:31.5	Jesus, Adam.
1:32.9	Yeah.
1:33.6	That's wonderful.
1:35.0	Did you have that much at age 37?
1:36.8	Oh, yeah.
	...

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