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Your Money, Your Wealth

Grow Your Wealth Tax-Free & Retire Sooner: YMYW Best of 2024 - 511

Your Money, Your Wealth

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 January 2025

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

YMYW friends, welcome to 2025. Today on Your Money, Your Wealth® podcast number 511, we’re revisiting your favorite topics of 2024 as Joe Anderson, CFP® and Big Al Clopine, CPA spitball on strategies for building up tax-free retirement income in Roth accounts, determining your appropriate mix of taxable, tax-deferred, and tax-free savings (also known as tax diversification), and whether YMYW viewers and listeners can retire as soon as possible.

Access free financial resources and the episode transcript: https://bit.ly/ymyw-511

DOWNLOAD the 2024 Key Financial Data Guide for free

CALCULATE your Free Financial Blueprint

SCHEDULE your Free Financial Assessment

ASK Joe & Big Al for your Retirement Spitball Analysis

SUBSCRIBE to YMYW on YouTube

DOWNLOAD more free guides

READ financial blogs

WATCH educational videos

SUBSCRIBE to the YMYW Newsletter

LISTEN to the Best of the YMYW Podcast 2021,  2022,  2023

LISTEN to the Top Funniest Moments from the YMYW Podcast Vol. 1, Vol. 2

Timestamps:

  • 00:00 - Intro: This Week on the YMYW Podcast
  • 00:59 - Can We Afford to Spend $120k/Year Inflation Adjusted in Retirement? (Joe & Angelina Jolie, Strawberry Plains, TN)
  • 08:14 - Can I Contribute to My Wife’s Roth IRA? Can I Max Out Multiple Roth Accounts? Should We Do Roth Conversions? (Theodore & Louise, Seattle, WA)
  • 15:21 - Download the 2024 Key Financial Data Guide for free. Subscribe to the YMYW podcast, the YouTube channel, and the YMYW newsletter, and get the 2025 guide as soon as it's released!
  • 16:46 - We Want to Retire As Soon as Humanly Possible. Brokerage vs. Solo 401(k) for Surplus Funds? (Ricochet J, CO)
  • 31:05 - How Much Money Do We Need to Retire ASAP? (Barney and Betty, NE New Jersey)
  • 44:20 - Calculate your Financial Blueprint, Schedule a Financial Assessment
  • 45:39 - Ed Slott: How Much Money Can You Save in Taxes With Good Tax Planning? What About People Who Don’t Have the Money to Pay the Tax on a Roth Conversion?
  • 51:51 - Tax Diversification General Guidelines? (Brian, Naperville, IL)
  • 57:33 - Andi's Favorite Derail of 2024: Clark & Ellen Griswold, Tuktoyaktuk reading Derail from ep. 498
  • 1:01:07 - Outro: 2024 YMYW Podcast Stats

Transcript

Click on a timestamp to play from that location

0:00.0

YMIW friends, welcome to 2025. Today on YMaii, Your Wealth Podcast number 511, we're revisiting your

0:07.9

favorite topics of 2024 as joined Big Al Spitball and Strategies for Building Up Tax-Free

0:13.3

Retirement In Roth accounts, determining your appropriate mix of taxable, tax-deferred, and tax-free

0:19.5

savings, also known as tax diversification,

0:22.6

and whether YMIW viewers and listeners can retire as soon as possible. Check the timestamps

0:28.7

in the episode description to jump directly to watch or listen to any question, see which

0:33.2

episode it originally came from, and where and how you loved it the most in 2024.

0:38.9

Click or tap the Ask Joe and Big Al link in the episode description to get a retirement spitball

0:43.3

analysis of your own.

0:45.0

We'll kick things off with spitballs from two of our most popular episodes on Apple

0:48.8

podcasts, YouTube, and Spotify.

0:51.3

I'm executive producer Andy Last, and here are the hosts of Your Money, Your Wealth,

0:55.7

Joe Anderson, CFP, and Big Alclopine CPA.

1:00.0

Joe and Angelina Jolie.

1:05.1

Interesting.

1:06.1

Yeah.

1:06.8

I don't know if that's supposed to be a reference to you

1:08.9

and Angelina Jolie.

1:11.1

Oh, might as well.

1:14.0

Strawberry paints tenets C.

1:15.9

Hello, Joe, Bigel, Nandy.

1:17.5

I've watched YMIW for the last five years and watched all episodes from the beginning.

...

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