What Retiring With $6 Million Really Looks Like - 549
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 30 September 2025
⏱️ 36 minutes
🧾️ Download transcript
Summary
Today on Your Money, Your Wealth® podcast number 549 with Joe Anderson, CFP® and Big Al Clopine, CPA, a comment on one of our YouTube videos sparks a dialogue between Joe and Big Al on the 4% rule vs. the "guardrails" withdrawal strategy. Joe at the Beach is managing his ~$6M portfolio on his own, but wants the fellas’ take on his upper limit for yearly spending, so he can keep drinking his old-fashioneds. Can Joe Ko in Virginia afford to bridge the gap between retiring at 67 and taking Social Security at 70? Plus, "Harold and Maude" have nearly $7M saved. Should they accelerate Roth conversions into high-tax brackets before moving from low-tax Colorado to high-tax California? And how much more than their current annual spend can they afford for family vacations and travel?
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https://bit.ly/ymyw-549 (full show notes & episode transcript)
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Chapters:
00:00 - Intro: This Week on the YMYW Podcast
00:50 - What About the Guardrails Withdrawal Strategy? (Bill, YouTube)
04:13 - I’m 69 with $5.7 Million Saved. What’s the Max I Can Spend in Retirement? (Joe at the Beach)
15:12 - 63 and 58 With $1.85M Saved. How Much Can We Spend from 67 Until Social Security at 70? (Joe Ko, VA)
21:30 - We’re 61 and 69 with $7.6 million. Can We Increase Our Retirement Spending? How Should We Do Roth Conversions? (“Harold and Maude”, Durango, CO)
33:49 - Outro: Next Week on the YMYW Podcast
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Today on Your Money, Your Wealth Podcast number 549, a listener comment on one of our YouTube |
| 0:05.0 | videos sparks a dialogue between Joe and Big Al on the 4% rule versus the guardrails withdrawal |
| 0:10.8 | strategy. |
| 0:12.0 | Joe at the beach is managing his portfolio on his own, but he wants the fellow's take on his |
| 0:16.6 | upper limit for yearly spending so he can keep drinking his old fashions. |
| 0:20.8 | Can Joe Coe and Virginia |
| 0:21.8 | afford to bridge the gap between retiring at 67 and taking Social Security at age 70? Plus, |
| 0:27.9 | Joe and Big Al spitball on whether Harold and Maude should accelerate Roth conversions into |
| 0:32.3 | high tax brackets before moving from low tax Colorado to Colorado to high-tax California. |
| 0:41.9 | And how much more than their current annual spend can they afford for family vacations and travel? |
| 0:46.3 | I'm executive producer Andy Last, and here are the hosts of Your Monite Your Wealth, |
| 0:49.4 | Joe Anderson, CFP, and Big Al-Clobine CPA. |
| 0:51.5 | Aloha, Big Al. |
| 0:54.8 | Aloha, it's as usual, it's wonderful out here. |
| 0:56.5 | It's summer. |
| 0:58.6 | It's a little warm, but the water is great. |
| 1:01.3 | Our listeners do. |
| 1:01.8 | You don't. |
| 1:02.7 | Andy cares. |
| 1:03.6 | I care. |
| 1:05.9 | I've got rain here in Australia. |
| 1:07.3 | It's raining and cold. |
... |
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