How to Bridge the Gap to Retirement Income: Pension Spitball - 456

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

🗓️ 21 November 2023

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Planning to retire early? Joe and Big Al spitball on bridging the gap to your retirement income when there’s a pension in the mix, today on Your Money, Your Wealth® podcast 456. Manley and his wife are in their early 50s and have teacher’s pensions. Can they retire in 2 and a half, or even one and a half years? Can Bucky in the Midwest retire in 2024, and can Henry Karl Kittensburg III retire in about 3 years, with all the milk his heart desires? How should Paul in Houston choose his pension options for early retirement? Is Greg in Southern California’s CalSTRS teacher’s pension enough for his retirement? Keaton Money in Colorado needs the fellas to help him decide between his pension’s fringe benefits and brokerage account returns, and big Paw in a mid-Atlantic state asks for a spitball on how to reduce taxes on an impending headcount reduction lump sum payout.

Timestamps:

00:58 - Early 50s, Teacher’s Pensions. Can We Retire Early in 1.5 or 2.5 Years? (Manley, Nashville)
08:17 - How to Choose Pension Options for Early Retirement (Paul, Houston, TX)
18:25 - Is CalSTRS Teacher’s Pension Enough in Retirement? (Greg, Southern California)
22:02 - Am I In Good Shape to Retire in 2024? (Bucky from the Midwest)
23:32 - Pension Fringe Benefits vs. Brokerage Account Returns (Keaton Money, CO)
32:00 - Can We Retire at Age 59? (Henry Karl Kittensburg III, Western OH)
40:42 - How to Reduce Taxes On a Headcount Reduction Retirement Lump Sum Payout? (Big Paw, mid-Atlantic state)
50:50 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-456

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Episode Transcript
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Transcript

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0:00.0	Joe and Bigel spitball on bridging the gap to your retirement income when there's a pension in the mix.
0:05.3	Today on Your Money, Your Wealth podcast number 456.
0:08.9	Manley and his wife are in their early 50s and a half teachers' pensions.
0:12.7	Can they retire early in two and a half or even one and a half years?
0:16.7	Can Bucky in the Midwest retire in 2024?
0:19.1	And can Henry Carl Kittensberg, the the third retire in about three years with all the milk his heart desires?
0:26.4	How should Paul and Houston choose his pension options for early retirement?
0:30.2	Is Greg in Southern California's Calsters' teachers' pension enough for his retirement?
0:35.1	Keaton Money in Colorado needs the fellows to help him decide between
0:38.2	his pension's fringe benefits and brokerage account returns, and Big Paw in a mid-Atlantic state
0:44.1	asked the fellas to spitball on how to reduce his taxes on an impending headcount reduction lump sum
0:49.8	payout. I'm producer Andy Last, and here are the hosts of your money, your wealth,
0:54.8	Joey Anderson, CF wealth, Joe Anderson,
1:02.1	CFP, and Big Al Clopline CPA. Let's see. We got Manley from Nashville, Tennessee. Goes,
1:07.1	Hey, Joe Big Al. Andy, my name is Manley. I live in Nashville, Tennessee. I drive a 2023, Fort Bronco. My wife drives a 2004 Nissan Exterra.
1:11.7	Had no pets.
1:12.7	However, we have two children, freshman in college, and a junior in high school.
1:17.3	No longer drink, but if I did, it'd be a little gentleman jack neat.
1:23.1	Sounds good.
1:25.0	I found your podcast three weeks ago and I'm obsessed with it.
1:29.2	I feel sorry for you, man.
1:32.3	My wife and I have been teachers our entire career.
	...

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