Year-End Money Tips Part Two

Jill on Money with Jill Schlesinger

Audacy

Investing, Education, Business, Self-improvement

4.6 • 1.9K Ratings

🗓️ 5 December 2021

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Believe it or not, it's that time of year again, time to do some year-end planning with the one and only Michael Goodman from Wealthstream Advisors.

With the Build Back Better bill still up in the air, there's a lot to unpack, and do keep in mind that there could still be some very big changes coming before we call it wraps on 2021.

And oh yeah, in the interest of full disclosure, not only is Michael a good friend of mine, he's also my advisor.

Have a money question? Email us, ask jill [at] jill on money dot com.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

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0:00.0	Welcome to the Jill on Money Show.
0:05.1	It's Sunday, December 5th.
0:07.2	And we are going to get right back into our interview with Michael Goodman.
0:11.8	He is the founder and president of Wellstream Advisors.
0:15.3	He's a certified financial planner.
0:16.7	He's a CPA.
0:17.7	He's kind of wonky.
0:20.3	Ignore that accent, that big time New York accent.
0:22.9	He's a Queens boy.
0:23.9	He's done pretty well for himself.
0:25.8	Today we're going to be talking about withdrawal rates and something that's very much on your
0:29.7	mind.
0:30.7	We've been getting a lot of emails about it.
0:32.9	We're talking about inflation and ways to actually counter inflation in your portfolio.
0:39.1	So here is the conclusion of our interview with Michael Goodman.
0:43.1	Would you mind giving us a little saliliquy on withdrawal rate and what that is, why it
0:50.5	has been coming under fire from this sort of generalized idea of you can pull 4% for
0:56.6	your portfolio?
0:57.6	First of all, let's do this.
0:58.9	What is a withdrawal rate and what is a safe withdrawal rate?
1:01.6	What does that mean?
1:02.6	A withdrawal rate means that you can withdraw this percentage of your portfolio every year
	...

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