Spitballing Early Retirement by the Ocean with Husband and Boyfriend - 395

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

🗓️ 13 September 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

What’s the next move for a 22-year-old who wants to retire early at 50? Can another YMYW listener afford to retire by the ocean in 10 months? Can Flowergirl and her husband AND her boyfriend retire next year? Joe and Big Al also check extensive retirement spitball math sent in PDF format. Plus, what are the fellas’ philosophies on single vs. married tax rates when one spouse passes, and how does high state income tax impact a retirement strategy? Show notes, free financial resources, Ask Joe & Big Al On Air: https://bit.ly/ymyw-395

Transcript

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0:00.0	The title of Your Money, Your Wealth Podcast 395, is a mashup of today's retirement spitball analyses.
0:07.5	What's the next move for a 22-year-old who wants to retire early at 50?
0:12.4	Can another YMIW listener afford to retire by the ocean in 10 months?
0:16.9	Can Flower Girl and her husband and her boyfriend retire next year?
0:21.9	Jo and Bigel also check extensive retirement spitball math sent in PDF format.
0:27.5	Plus, what are the fellas philosophies on single versus married tax rates when one spouse passes?
0:33.4	And how does high state income tax impact a retirement strategy?
0:41.3	I'm producer Andy Last, and here are the hosts of your money, your wealth, Joe Anderson CFP and Big Al Clopine CPA.
0:45.3	Hey, I'm Nick. I'm 22 years old.
0:48.3	I have $40,000 in my liquid savings.
0:51.3	I have 25,000 of my raw TSP.
0:53.3	I was in active duty Navy no longer looking at
0:56.3	rolling that over so I can put more money into it. Well, this isn't really my question. If you have
1:02.3	any suggestions on how to roll it over or what to do with it, I'm all ears. I work and go to college
1:09.6	full time, and earn $65,000 a year working in IT. I've
1:13.4	zero dead, own my car outright, and rent a small apartment in Phoenix, Arizona. Can you
1:19.3	gentlemen, please help me with what the next move to helping me retire by 50 is? Please let me know. My family is a bunch of avid listeners.
1:32.2	Thank you guys. Awesome. Thank you, Nick. Right. Family's a bunch of avid listeners. Yep.
1:39.3	Not necessarily to this show. They listen to other shows. Appreciate it.
1:44.8	A little active duty, a little Navy.
1:46.9	Yeah, yeah.
1:47.5	Nick,
	...

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