Investments vs. Retirement Withdrawal Strategy, FDIC Insurance - 424
Your Money, Your Wealth
Your Money, Your Wealth
4.6 • 791 Ratings
🗓️ 11 April 2023
⏱️ 44 minutes
🧾️ Download transcript
Summary
Should retirement living expenses be drawn from your stable value fund, your CD or money market, brokerage account, or FDIC insured bank accounts? Can you even trust the banks after the recent bank failures? What about sequence of returns risk? Which investments are best for long-term retirement savings when you're early in your career? Joe and Big Al explain why your strategy for retirement savings and withdrawals should be your first step - before you consider investments, asset classes, or sectors.
Timestamps:
- 00:49 - Stable Value Fund Vs. Brokerage Account for Living Expenses? (Sharon, Waukesha - voice)
- 09:08 - Sequence of Returns Risk: Should I Save for 5 Years in CD, Money Market or Brokerage Account? (Carlos, Tampa Bay)
- 15:46 - High Income and Tax-Deferred Savings, Low Tax Rate: Where Should I Save? (Josh, Boston, MA)
- 21:40 - Am I Overcomplicating My Investments at Age 35? (Mike, VA)
- 29:44 - I'm 28. Should I Max Out Pre-Tax or Post-Tax 457 Plan Retirement Savings? (Michael)
- 33:55 - How Does FDIC Insurance Work? SVB and Signature Bank Failures (Jon, Powhatan, VA)
- 39:46 - Should We Roll 401(k) to Several FDIC-Insured IRA Accounts to Live Off Of? (Joan, Long Island, NY)
Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-424:
- YMYW Guide to Growing Your Wealth
- Register for the Q1 2023 Market Update / Q2 2023 Financial Market Outlook Webinar, April 26, 12pm PT / 3pm ET with Pure Financial Advisors' EVP and Chief Investment Officer, Brian Perry, CFP®, CFA.
- Episode Transcript
- Ask Joe & Big Al On Air
Transcript
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| 0:00.0 | Should retirement living expenses be drawn from your stable value fund, your CD, your money market, |
| 0:05.2 | what about your brokerage account, or what about FDIC insured bank accounts? Can you even trust the banks |
| 0:10.5 | after the recent bank failures? What about sequence of returns risk? Which investments are best |
| 0:15.3 | for long-term retirement savings when you're early in your career? Today on Your Money, Your Wealth |
| 0:20.1 | podcast number 424, |
| 0:22.0 | Joe and Big Al explain why your strategy for retirement savings and withdrawals should be your |
| 0:27.3 | first step before you consider investments or asset classes or sectors. I'm producer Andy Last |
| 0:33.1 | with the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Al Clopine CPA. |
| 0:38.5 | Get your money questions answered. |
| 0:40.7 | Go to Your Money, Your Wealth.com, and click Ask Joe and Big Al on air to send them in as an email |
| 0:45.9 | or a priority voice message like this one. |
| 0:48.9 | Good morning, Joe, Big Al, and Andy, Sharon from Waukesha. |
| 0:53.6 | First, thank you for your podcast again, one of my faves. |
| 0:57.2 | I'm still driving the 2016 Honda CRV. |
| 1:00.7 | Still catering to my two rescue cats, Izzy and Baby. |
| 1:04.4 | And I wouldn't turn down a cup or two of red wine. |
| 1:09.0 | Hey, a couple questions around stable value funds and the use, the purpose |
| 1:13.6 | of them, I guess. I have a stable value fund. It's called the annual fixed rate fund in my 401k. |
| 1:20.1 | Really my main question is figuring out where to pull money for living expenses in 2024. |
| 1:25.2 | I retired at the end of 2021 and I'm currently draining all my cash as I ride |
| 1:30.6 | out this down market. The cash runs out end of 2023. My annual expenses are about 55K. I've already |
| 1:38.7 | rolled my 401k into an IRA, but I do have some funds in my 401k, specifically, 58K in a 2030 target fund, |
... |
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