Here is what I spent this year in terms of my budget.

And here's what I earned.

And how do those two different?

And I call it mind the gap.

You want to look at what is your after inflation earnings, your performance return on your portfolio, versus your spend rate.

And if they're pretty close, then you can be retired indefinitely.

But if it's wide, then you start eating in the principal overtime.

Having some type of side project as a retiree, some other source of income, I think is critical.

That's Jay David Stein, host of the Money for the Rest of Us podcast.

Today on Your Money, Your Wealth, he tells Joe and Big Al about managing our emotions

when it comes to investing in market volatility and how to mind the

gap between income and spending in retirement. And if that gap's a little too large for you,

we've got 99 side hustles that can help you make some more cash. Also, six tax planning tips to

consider for 2017, withdrawing from a rock to fund college, and the cost basis of stock held in trust

for beneficiaries. Now here are Joe Anderson's CFP and Big Al-Clopine's CPA.

Alan, how long have you been a CPA?

I'm going to say about 33 to 35 years, somewhere there.

33 to 35 years.

Yeah.

Tell me how you got into being a CPA.

I think our listeners would like to know a little background.

Yes.

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