Spitballing Retirement From Apple to a Tax-Friendly State | YMYW Extra - 5

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

🗓️ 2 July 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Will their $5 million nest egg get them to ages 85 and 100? Pa and GiDi are 65 and 60 and retiring now. As they consider moving to the no-income-tax state of Nevada in retirement, they have some decisions to make: should Pa take Social Security before age 70? How should they bridge the gap until Social Security? And most importantly, how can they minimize their taxes in retirement? Should they wait to do Roth conversions until after the move? That’s on this bonus episode of Your Money, Your Wealth®, aka YMYW Extra. While Joe Anderson, CFP® and Big Al Clopine, CPA are on vacation, YMYW producer Andi Last enlists the help of senior financial advisor Kyle Stacey, CFP® from Pure Financial Advisors in San Diego, California. Free financial resources and transcript: https://bit.ly/ymywe-5

DIY Retirement Guide - Limited time Special Offer! Download by Friday, July 5, 2024:

https://purefinancial.com/ymyw/#ymyw-special-offer

It's a two-fer! Watch the video spitball for Pa and GiDi from Nick Rose, CFP® from the Pure Financial Advisors office in Woodland Hills, California: https://youtu.be/N-hsXonqgMM

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Timestamps:
00:00 - DIY Retirement Guide Limited-Time Special Offer
01:05 - Intro
02:31 - Pa & GiDi's Cars, Drinks & Finances
07:51 - High-Level Thoughts and Retirement Assumptions
11:26 - Roth Conversions to the Top of the 24% Tax Bracket
12:45 - Claiming Social Security and Portfolio Diversification
13:43 - Other Suggestions

Transcript

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0:00.0	It's that time once again. The DIY retirement guide is the special offer right now at Your Money, Your Wealth.com, and it's only available until this Friday.
0:09.8	Nearly all our other white papers, guides, and handbooks are always freely available in the financial resources section of our website, but the 40-plus pages of this guide are packed with so much practical do-it-yourself information that we only
0:22.9	make it available on a very limited basis and it won't be offered again for a few months.
0:27.9	Learn steps to understand and plan for your retirement income. Sophisticated strategies for
0:32.9	choosing a tax-efficient distribution method, guidance on developing an investing strategy that meets
0:38.0	your needs, tips on preparing for the unexpected and other actionable information that's
0:43.5	normally only available in our retirement classes or one-on-one meetings.
0:48.0	Click the link in the description of today's episode in your favorite podcast app, go to the show
0:52.2	notes, and claim the DIY retirement guide by this
0:55.5	Friday, July 5th, 2024. If you know someone who could benefit from the gift of financial
1:00.8	education, share the podcast and the financial resources with them. Will their $5 million nest day get
1:06.4	them to ages 85 and 100? Pa and GD are 65 and 60 and retiring now. As they consider moving to the
1:14.5	no-income tax state of Nevada in retirement, they have some decisions to make. Should Pa
1:19.3	take Social Security before age 70? How should they bridge the gap until Social Security? And most
1:24.7	importantly, how can they minimize their taxes in retirement?
1:28.3	Should they wait to do Roth conversions until after the move?
1:31.4	That's up next on this bonus episode of Your Money, Your Wealth, aka YMIW Extra.
1:36.8	I'm producer Andy Last, and Your Money Your Wealth hosts Joe Anderson, CFP, and Big Al Clopine
1:42.0	CPA are both on vacation.
1:44.1	So as Al enjoys Europe and Joe celebrates his
1:47.1	milestone birthday on a golf course somewhere in the middle of this country, I've enlisted the help of
1:51.9	senior financial advisor Kyle Stacey CFP from the Pure Financial Advisors Office in San Diego.
	...

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