Which Account Should Fund Living Expenses in Retirement? - 481

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

🗓️ 14 May 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Should 70-year-old Bob live off of capital gains and dividends from his mutual funds plus Social Security, or should he sell poor-performing mutual funds for living expenses and reinvest the cap gains and dividends? Which account should Neal’s 76-year-old Mother use for living expenses? Should Neal and his wife fund their Roth 403(b) until retirement, or contribute to the regular 403(b) and then do Roth conversions after they retire? That’s today on Your Money, Your Wealth® podcast 481 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, the fellas spitball on whether IndyGuy can retire at 64 and Die With Zero, and Rod doesn’t want a spitball, but he’d like a dart on the wall as to whether his retirement savings will last until age 88. Free financial resources and transcript: https://bit.ly/ymyw-481

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Timestamps:

00:00 - Intro
00:48 - Living Expenses: Cap Gains, Dividends & Social Security or Poor Performers? (Bob, Jupiter, FL)
10:02 - From Which Account Should 76yo Mom Withdraw Living Expenses? (Neal, Dallas, TX)
18:11 - Dart on the Wall for Our Retirement to Age 88? (Rod)
26:08 - Can We Retire at 64 and Die With Zero? (IndyGuy)
35:50 - Save to Roth 403(b) or Traditional Until Roth Conversions at Retirement? (Neal, Dallas, TX)
42:54 - The Derails

Transcript

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0:00.0	Should 70-year-old Bob live off of capital gains and dividends from his mutual funds plus social security,
0:05.6	or should he sell poor-performing mutual funds for living expenses and reinvest the cap gains and dividends?
0:12.1	Which account should Neal's 76-year-old mother use for living expenses?
0:15.8	Should Neil and his wife fund their Roth 403B until retirement,
0:19.1	or contribute to the regular 403B and then do
0:22.3	Roth conversions after they retire. That's today on Yoramani, Your Wealth podcast number 481.
0:28.2	Plus, join Big Al spitball and whether Indie Guy can retire at 64 and die with zero, and
0:33.7	Rod doesn't want a spitball. But he'd like a dart on the wall as to whether his retirement savings will last until age 88.
0:41.0	I'm producer Andy Last, and here are the hosts of your money, your wealth, Joe Anderson's CFP, and Big Alclopine CPA.
0:48.0	Let's jump into Bob from Jupiter, Florida.
0:51.0	I'm a DIY investor 70 years old, $12 million in total assets. $5 million in IRAs invested
0:56.7	in the following 4% cash, 85% stocks. They're in mutual funds, 44% growth value, blah, blah, blah, blah.
1:05.5	He's got $275,000 that he wants to live off of. Net worth is $18 million, no debt.
1:13.8	Yeah, I think you're good bob but we'll just make that comment i wonder if he's neighbors of tiger woods there you know
1:20.4	could be mr maybe justin thomas yep all right uh here's a question every year we use capital
1:26.6	gains of dividends from the mutual funds plus Social Security to live on.
1:30.4	Should we be selling poor performer mutual funds for our living expenses in reinvest the capital gains and dividends we normally would take out?
1:41.3	So let me see if I understand this question, Pop.
1:46.9	Should I be selling the poor performing mutual funds?
1:54.4	Right, which if he means the poor performing mutual funds based upon asset class,
2:00.1	the answer is no because things turn around.
2:06.3	There's so many things that are off on this, is that he's living off of the dividends and
	...

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