Your Money, Your Wealth

John in Boston is in the 32% tax bracket. Should he do Roth conversions? Flight Deck Dad and Irish Girl in Pensacola have a lot of tax-free pension income. Should they do Roth conversions? Bert and Ernie in New Jersey wonder if they should convert to Roth or take advantage of zero percent capital gains tax rates. Joe Anderson, CFP® and Big Al Clopine, CPA spitball for all of them today on Your Money, Your Wealth® podcast number 529. Plus, Michael and his wife in Bellevue are 34, in the 24% tax bracket and wonder if they should contribute to tax-free or tax-deferred accounts, and if they should slow down on retirement savings and start a bridging account for the years between when they want to punch the clock in their early to mid-50s, and when they can access their retirement savings. Then, for something completely different, Frenchie from Maine writes back in: What are the disadvantages to paying off her mortgage ASAP, and what’s the tax efficiency of a money market compared to bond funds? Free financial resources & episode transcript: https://bit.ly/ymyw-529 WATCH How to Break Through Retirement Barriers on YMYW TV CALCULATE your Free Financial Blueprint SCHEDULE your Free Financial Assessment ASK Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:00 - We’re in the 32% Tax Bracket. Should We Do Roth Conversions? (John, Boston, MA) 06:19 - We Have Large Tax-Free Pension Income. Should We Do Roth Conversions? (Flight Deck Dad & Irish Girl, Pensacola, FL) 16:03 - Watch How to Break Through Retirement Barriers on YMYW TV, Calculate your free Financial Blueprint 16:52 - Should We Do Roth Conversions or Take Advantage of 0% Capital Gains Tax? (Bert & Ernie, NJ) 25:53 - In the 24% Bracket. Should We Contribute to Tax-Free or Tax Deferred Accounts? (Michael, Bellevue, WA) 29:49 - Schedule a Free Financial Assessment at any of Pure Financial Advisors' 12 nationwide locations or online 31:04 - Disadvantages to Paying Off the Mortgage ASAP? Tax Efficiency of Money Market vs. Bond Funds? (Frenchie, ME) 36:23 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 13 May 2025

You’ve been jamming money into your retirement accounts for years now. When is it okay to slow down? Joe Anderson, CFP®® and Big Al Clopine, CPA spitball for Ron and Veronica in Indiana today on Your Money, Your Wealth® podcast 528. Plus, how can Scott in Illinois bridge the gap from age 55 to retirement income at 57? How should Big Juan in Texas pay for college? Should he convert his TSP to Roth? Can he retire at 55 And finally, Frank and Jane Drebin in Wisconsin are 46 and 47 and wondering if their plan for retirement in 5 years is just a pipe dream. Free financial resources & episode transcript: https://bit.ly/ymyw-528 DOWNLOAD The Retirement Readiness Guide for free WATCH What Happens to Your 401(k) & IRA at Retirement? On YMYW TV CALCULATE your free Financial Blueprint ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:13 - Can I Take My Foot Off the Gas on Saving for Retirement? (Ron and Veronica, IN) 09:48 - Watch What Happens to Your 401(k) & IRA at Retirement? On YMYW TV and Download The Retirement Readiness Guide 10:43 - How to Bridge the Gap from Age 55 to Retirement Income at 57? (Scott, IL) 20:04 - How to Fund College? TSP to Roth Conversions? Retirement at 55? (Big Juan, TX) 24:45 - Calculate Your Free Financial Blueprint 25:45 - We're 46 and 47, Is Our Retirement Plan a Pipe Dream? (Frank and Jane Drebin, WI) 32:26 - Next Week on the YMYW Podcast

Transcribed - Published: 6 May 2025

What are the pros and cons if Chip uses the money in his taxable brokerage account for early retirement income? Jack and Sally ask Joe and Big Al to spitball on whether they can retire around age 55 or 60, and whether they should max out their Roth or convert to Roth, today on Your Money, Your Wealth® podcast 527 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Plus, April and Andy ask the fellas to spitball on their dividend investing strategy, and Don wonders if a separately managed account (SMA) makes sense for his taxable account. (We’ll also find out what an SMA is.) Free financial resources & episode transcript: https://bit.ly/ymyw-527 CALCULATE your free Financial Blueprint DOWNLOAD The Withdrawal Strategy Guide for free DOWNLOAD 10 Steps to Improve Investing Success for free WATCH Your 11-Step Path to Financial Freedom on YMYW TV ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:52 - Pros and Cons of Using a Taxable Brokerage Account for Early Retirement Income? (Chip Skylark, Dimsdale) 13:24 - Watch Your 11-Step Path to Financial Freedom on YMYW TV, Calculate Your Free Financial Blueprint 14:27 - Is My Dividend Investing Strategy Missing Anything? (Andy & April, Knoxville, TN) 25:02 - Can I Retire Between Ages 55-60? Should I Max Out Roth Contributions, or Convert to Roth? (Jack & Sally, NC) 31:18 - Download the Withdrawal Strategy Guide and 10 Steps to Improve Investing Success for Free 32:03 - Does a Separately Managed Account (SMA) Make Sense for My Taxable Account? (Don, IA) 40:46 - Next Week on the YMYW Podcast

Transcribed - Published: 29 April 2025

Just about every week here on YMYW, Joe and Big Al talk about converting your retirement savings to Roth accounts. But why? What’s the big deal? Today the “IRA guru” Ed Slott, CPA returns to Your Money, Your Wealth® in podcast number 526 with Joe Anderson, CFP® and Big Al Clopine, CPA to tell us why he calls the Roth IRA “the greatest account ever created.” (Here’s a hint: it’s all about having tax-free income in retirement - and beyond.) Plus, where to prioritize saving for retirement? Jerry Tom in St. Louis wants to know. Are Christian and Tiffany in Montana on track for retirement, and should they rebalance their ETFs? Should Frank in Lake Wobegon’s wife take her teachers’ salary over 9 months or 12 months? And finally, Jon thinks the target retirement withdrawal rates Joe and Big Al use to spitball are too low - we’ll see what they think. Free financial resources & episode transcript: https://bit.ly/ymyw-526 DOWNLOAD The Complete Roth Papers Package CALCULATE your Financial Blueprint WATCH Don’t Let These 10 Risks Break Your Retirement on YMYW TV ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro 00:59 - Ed Slott, CPA on the Roth IRA, the Future of Taxes, the Death of the Stretch IRA, and Naming a Trust as Your Retirement Account Beneficiary 19:44 - Download The Complete Roth Papers Package for free 20:37 - Where to Prioritize Saving for Retirement? (Jerry Tom, St. Louis) 28:57 - Are We on Track for Retirement? Should We Rebalance Our ETFs? (Christian & Tiffany, Montana) 40:43 - Watch Don't Let These 10 Risks Break Your Retirement on YMYW TV, Calculate Your Free Financial Blueprint 41:44 - Is It Better to Take Teachers' Salary Over 9 Months or 12? (Frank, Lake Wobegon - voice) 45:32 - Withdrawal Rates Are Very Low on YMYW (Jon, Twitter & Apple Podcasts) 49:46 - YMYW Podcast Outro

Transcribed - Published: 22 April 2025

Tariffs, inflation, healthcare costs... how do you shift from saving to spending in retirement while managing risks like these? Jamie Hopkins is a CERTIFIED FINANCIAL PLANNER® professional, an attorney, and best-selling author of Find Your Freedom and Rewirement: Rewiring the Way You Think About Retirement. He returns to the show today on Your Money, Your Wealth® podcast 525 with Joe Anderson, CFP® and Big Al Clopine, CPA, to share insights on how to rewire your retirement plans. Plus, how should Fred and Ginger in Huntington Beach, California, pay for repairs on their rental properties? How can Peter Lemonjello manage taxes in his early retirement with 72(t) elections, rental income, and an installment sale? Can Calvin and Susie in Lancaster, Pennsylvania, buy an $800,000 beach house - and should they? Free financial resources & episode transcript: https://bit.ly/ymyw-525 DOWNLOAD The Recession Protection Guide WATCH the Market Volatility webinar with Joe Anderson, CFP® and Brian Perry, CFP®, CFA from Pure Financial Advisors on demand  DOWNLOAD 10 Tips for Real Estate Investors WATCH How Your Home Can Create Retirement Income on YMYW TV ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Thanks to Million Podcasts for ranking YMYW in several of their "Best of" lists! Read more. Timestamps: 00:00 - Intro 00:59 - Rewiring Spending and Managing Risk in Retirement with Jamie Hopkins Esq., LLM, CFP®, ChFC®, CLU®, RICP® 24:07 - Watch the Market Volatility Webinar On Demand, Download the Recession Protection Guide 24:52 - How Should We Pay for Repairs on Rental Properties? (Fred & Ginger, Huntington Beach, CA) 33:06 - Early Retirement Taxes: 72(t) Timing, Installment Sale, and Rental Income (Peter LemonJello, FL) 44:02 - Watch How Your Home Can Create Retirement Income on YMYW TV, Download 10 Tips for Real Estate Investors 44:33 - Can and Should We Buy an $800K Beach House? (Calvin and Susie, Lancaster, PA) 53:33 - YMYW Podcast Outro

Transcribed - Published: 15 April 2025

Will your taxes go up? Stay the same? Go down, even? Jeffrey Levine is Chief Planning Officer at Focus Partners, Professor of Practice in Taxation at the American College of Financial Services, and the Lead Financial Planning Nerd at Kitces.com. In other words, he’s one of the savviest tax minds in the country. Jeff returns to the show today on Your Money, Your Wealth® podcast number 524 with Joe Anderson, CFP® and Big Al Clopine, CPA, with his thoughts on what will happen to taxes under the new administration, saving for retirement in a Roth IRA vs. a traditional IRA, managing inherited retirement accounts, and the future viability of Social Security. Plus, what should you do with required minimum distributions when you don't need the money to live on? How do you calculate the maximum amount you should convert from your retirement account to a tax-free Roth account, and how much should you convert - or not - to keep RMDs under control? Finally, how can minor beneficiaries avoid probate? Free financial resources & episode transcript: https://bit.ly/ymyw-524 LIMITED TIME SPECIAL OFFER: DOWNLOAD The DIY Retirement Guide by Friday April 11, 2025! WATCH Take Control of Your Retirement Plan on YMYW TV ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:05 - Will These Historic Low Tax Rates Be Extended? Insight from Jeff Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF, BFA™, MSA 19:54 - Make These 3 Investments for a Happy Retirement and Watch Take Control of Your Retirement Plan on YMYW TV 21:06 - What to Do With Required Minimum Distributions When You Don't Need the Money to Live On? (Judi, San Diego) 24:40 - How Much NOT to Convert to Roth to Keep RMDs Under Control? (DH from SoCal) 32:26 - LIMITED TIME SPECIAL OFFER: Download the DIY Retirement Guide by Friday, April 11, 2025! 33:39 - How to Calculate How Much Roth Conversion I Should Do? (Joe, voice) 38:42 - How Can I Reduce My Required Minimum Distributions? (Joel, CA) 40:18 - How Can Minor Beneficiaries Avoid Probate? (Esther, San Francisco) 46:04 - YMYW Podcast Outro

Transcribed - Published: 8 April 2025

What are the three predictors of retirement happiness? Dr. Michael Finke, CFP® from the American College of Financial Services tells us what his research shows. He also shares his insights on the four percent rule for retirement withdrawals and whether there is anything we can do to stave off the effects of aging on our cognitive abilities. That’s today on Your Money, Your Wealth podcast number 523 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Joe and Big Al do some retirement spitballing: can Jon in Pennsylvania retire early at age 56, and would it be better for him to take his pension monthly or as a lump sum? Steve and his wife in Colorado are 48 and 54 and have $3 million saved. When can they retire? Eager Eagle and his wife in Washington state have $2 million saved at ages 61 and 63. Can they retire next year? Free financial resources & episode transcript: https://bit.ly/ymyw-523 DOWNLOAD The Retirement Lifestyles Guide  DOWNLOAD The Social Security Handbook WATCH: Social Security Basics You Need to Know: Common Social Security Questions Answered on YMYW TV  WATCH/LISTEN: What’s Your Retirement Income Style?  ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter

Transcribed - Published: 1 April 2025

What is your retirement income style? Dr. Wade Pfau, CFA, RICP®, is the co-founder of RISAprofile.com, providing investors with retirement income style awareness. He returns to Your Money, Your Wealth® today on podcast number 522 to talk about four different styles of retirement income, distribution planning and the four percent rule. Plus, what does Dr. Pfau think will happen with President Trump’s 2017 tax cuts, scheduled to sunset at the end of this year? What are Dr. Pfau’s thoughts on annuities as part of your retirement plan? Next, "Joe Anderson’s Top 5 Things" to help you manage the impact of all this market volatility on your portfolio. Also, Joe Anderson CFP® and Big Al Clopine, CPA spitball for "Al Bundy" in St. Louis: what withdrawal strategy makes sense for him, and what he should do with his IRA and 401(k) money? Free financial resources & episode transcript: https://bit.ly/ymyw-522 DOWNLOAD the Recession Protection Guide DOWNLOAD The Tax Planning Guide WATCH Escape These 11 Tax Traps and You'll Save in Retirement on YMYW TV ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:00 - Retirement Income Style, Tax Laws, and Annuities with Dr. Wade Pfau 16:39 - What's the Future of Your Social Security? Watch Last Week's YMYW Podcast & Subscribe on YouTube 17:08 - Joe Anderson’s Top 5 Things: How to Manage Market Volatility 26:27 - Learn to Escape These 11 Tax Traps and You'll Save in Retirement on YMYW TV, Download the Tax Planning Guide 27:13 - What Should I Do With My IRA and 401(k)? I'm 61 and Have $10M. (Al Bundy, St. Louis) 00:00 - YMYW Podcast Outro

Transcribed - Published: 25 March 2025

What does the future hold for your Social Security under the new Trump administration and Elon Musk's DOGE, the Department of Government Efficiency? Nationally-renowned financial thought leaders Jamie Hopkins, Jeff Levine, Eric Ludwig, and Steve Parrish share their insights with Big Al Clopine, CPA at the American College of Financial Services’ Horizons Conference in San Diego, CA on Your Money, Your Wealth® podcast 521. First, the College's President, George Nichols, gives a brief overview of the institution and their inaugural conference.  Plus, Joe Anderson, CFP® and Big Al spitball on whether Ricky and Lucy in Wisconsin even bother saving for retirement - they’re expecting to inherit about 20 million dollars. When should Tybob in Arizona collect Social Security? Are Roth conversions right for him? Should he go for Medicare or Medicare Advantage? Speedy Racer in Georgia needs a retirement spitball, and Gilligan in New York shares insight for other Gilligans trying to avoid a retirement shipwreck. Free financial resources & episode transcript: https://bit.ly/ymyw-521  DOWNLOAD the Social Security Handbook WATCH Are You Ready for Retirement? On YMYW TV DOWNLOAD the Retirement Readiness Guide DOWNLOAD the Key Financial Data Guide READ about all of today’s guests ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:10 - The American College of Financial Services and The Horizons Conference with George Nichols III, CAP® 03:59 - What is the Future of Your Social Security Under the New Administration? 13:11 - Watch Are You Ready to Retire? on YMYW TV and Download the Retirement Readiness Guide 14:05 - Should We Bother Saving for Retirement? We're Inheriting $20M. (Lucy & Ricky, WI) 19:05 - When to Claim Social Security? Should I Do Roth Conversions? Medicare vs. Advantage? (Tybob, AZ) 23:28 - I'm 50 With $2.4M Saved. Should I do 72(t) Tax Elections and Retire Right Now? (Speedy Racer, North GA) 33:12 - Download the Key Financial Data Guide for free 34:30 - Comment: Your Podcast Is Impactful for the "Gilligans" (Gilligan, NY) 40:48 - Next Week on the YMYW Podcast

Transcribed - Published: 18 March 2025

Martin and Caterina in Green Bay are in their 40s and haven’t yet saved a million bucks. Are they on track to retire at age 58? Can Piggie and Kermit in California retire today at ages 50 and 57 and still build wealth for their children? Can Galahad and Zoot in Chicago retire early in their 50s, or do they need to keep working? Do Bo and Daisy have enough saved to retire now at 61 and 56? Plus, Chuck in South Carolina asks, if you can retire early, why wouldn’t you? Spitballing early retirement, today on Your Money, Your Wealth® podcast 520 with Joe Anderson, CFP® and Big Al Clopine, CPA. Free financial resources & episode transcript: https://bit.ly/ymyw-520 WATCH this episode on YouTube WATCH Don't Make These 10 Will and Trust Mistakes on YMYW TV DOWNLOAD the Estate Planning Organizer CALCULATE your Financial Blueprint ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:48 - In Our 40s and Haven't Hit a Million Yet. Are We On Track for Retirement? (Martin & Caterina, Green Bay - voice) 10:29 - We Have Over $5M. Can We Retire Today at 50 and 57 and Still Build Wealth for Our Kids? (Piggy & Kermit, CA) 18:24 - Watch 10 Will and Trust Mistakes to Avoid on YMYW TV and Download the Estate Planning Organizer 19:08 - We’re 56 and 52 With $500K. Can I Retire Early at 62? (Galahad and Zoot, Chicago) 25:36 - We’re 61 and 56 With $600K. Have We Saved Enough for Retirement? (Bo & Daisy, upstate NY) 33:49 - Calculate Your Financial Blueprint 34:12 - We’re 61 and 58 With $1.5M. How Much Can We Spend in Retirement, When Should We Claim Social Security? (Hefwannabe and Jane, OK) 42:19 - If You Can Retire Early, Why Wouldn't You? (Chuck, SC) 48:11 - YMYW Podcast Outro

Transcribed - Published: 11 March 2025

How much do Nick and Nora in Pittsburgh, and Doc Mc Muffin and her Mr. in Minnesota, need to have saved, and how much can they afford to spend in retirement? What are the disadvantages to Fred and Ethel in Virginia if Ethel collects her Social Security early? Are the Moonshiner and the City Girl in Florida so obsessed with avoiding RMDs and IRMAA that they're wasting too much savings on Roth conversions? That’s today on Your Money, Your Wealth® podcast 519 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, will the tax benefits on a rental property offset the negative cash flow for Lily's 29-year-old son, who has started his professional career with a $750K salary? Free financial resources & episode transcript: https://bit.ly/ymyw-519 DOWNLOAD the Withdrawal Strategy Guide for free LIMITED TIME OFFER: Download the Money Makeover Guide by this Friday, March 7! Watch Complete Money Makeover: How to Do a Financial Facelift on YMYW TV YMYW Accolades on Feedspot and Goodpods ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter   Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:51 - How Much Should We Have Saved Before Retirement? (Nick & Nora, Pittsburgh, PA) 12:01 - Download the Withdrawal Strategy Guide for free 12:38 - We're 40 with $2.7M Saved. Spitball on What We're Missing. (Doc McMuffin, MN) 18:40 - Any Disadvantages to Claiming Social Security Early? (Fred & Ethel, VA) 26:11 - Am I Overly Obsessed with Reducing RMDs and IRMAA, Wasting too Much on Roth Conversions? (The Moonshiner and the City Girl, Orange Park, FL) 34:52 - LIMITED TIME OFFER: Download the Money Makeover Guide by this Friday, March 7! Watch Complete Money Makeover: How to Do a Financial Facelift on YMYW TV 35:36 - Son Makes $750K. Will Rental Property Tax Benefits Offset Negative Cash Flow? (Lily, CA) 40:32 - Joe and Big Al's Very First Jobs 44:18 - YMYW Accolades on Feedspot and Goodpods

Transcribed - Published: 4 March 2025

Is it better to save for retirement in traditional 401(k)s and IRAs, or in Roth accounts? That’s today on Your Money, Your Wealth® podcast 518 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what are the rules around contributing to two different types of Roth accounts? If required minimum distributions will be staggered because of a couple’s age difference, should they convert their retirement savings to Roth, or leave it alone? But first, Joe and Big Al have a backdoor Roth conversion withdrawal debate to settle. Access free financial resources and the episode transcript: https://bit.ly/ymyw-518 DOWNLOAD The Ultimate Guide to Roth IRAs for free WATCH Will Your Money Last Through Retirement? on YMYW TV DOWNLOAD The Retirement Lifestyles Guide for free WATCH Is a Market Correction Coming in 2025? Q&A and Feedback (YouTube Exclusive) ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:02 - Can Backdoor Roth Conversions Be Withdrawn at Any Time? (Tyler, Arlington, VA) 06:11 - Am I Allowed to Have Two Roth Accounts? Should I Use My Roth 403(b)? (Kimberly, NY) 07:06 - Should I Switch Contributions from Traditional TSP to Roth? (Kate, Cleveland, OH) 11:47 - Download the Ultimate Guide to Roth IRAs for free 12:43 - Self-Insuring Long-Term Care: Traditional IRA or Roth? (Neo, San Clemente, CA) 18:05 - Our RMDs Will Be Staggered. Should We Convert $4M to Roth or Leave It Alone? (Mike, Western PA) 22:00 - Should I Switch Traditional IRA Contributions to Roth? (Joe, NC) 25:39 - Watch Will Your Money Last Through Retirement? on YMYW TV, Download the Retirement Lifestyles Guide for free 26:31 - Should We Dial Back Pre-Tax Savings and Put More in Brokerage? (Herc & Angel, MA) 31:44 - We Can Mega-Save. What’s Our Plan of Attack? Ricky Bobby, Charlotte, NC) 38:42 - Watch "Is a Market Correction Coming in 2025? YMYW Podcast Q&A and Feedback" (YouTube Exclusive)

Transcribed - Published: 25 February 2025

Should Nancy in Washington take out a 401(k) loan and invest it in her brokerage account to catch up on saving for her retirement? When Joe and Big Al talk about having a balanced portfolio of various asset classes like stocks and bonds, Brian in Naperville, Illinois wonders whether that asset allocation strategy takes into account the stabilizing effect of monthly Social Security payments? That’s today on Your Money, Your Wealth® podcast 517 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Joy and her brother are each inheriting $400,000. How should they each invest it for their very different financial situations? Mike in Colorado has a good guaranteed income stream, so what should he do with the money he’s drawing from his taxable IRA every year - convert to Roth, put it in a brokerage account, go on a cruise? And finally, Skipper asks the fellas to spitball on whether he should do Roth conversions or take advantage of zero percent capital gains tax rates. Access free financial resources and the episode transcript: https://bit.ly/ymyw-517  DOWNLOAD the free Retirement Income Strategies Guide REGISTER for the free Risk Management and Retirement Planning webinar, Wednesday, February 26, 12pm Pacific / 3pm Eastern WATCH Retirement Rebound: 5 Plays to Help You Score a Comeback on YMYW TV ASK Joe & Big Al for your Retirement Spitball Analysis CALCULATE your free Financial Blueprint SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter

Transcribed - Published: 18 February 2025

What are the benefits and differences between exchange-traded funds and mutual funds? Mike in Colorado wants to know. How should Lauren in Florida approach the fixed-income portion of her investment portfolio? Would a balanced fund be good for asset allocation in the decumulation phase for DJ in Missouri? Plus, Karen wants to make a one-time roulette investment. Should she hire a broker or do it herself? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on investing from the basics to the alternatives, today on Your Money, Your Wealth® podcast number 516. But first, something for YMYW’s legion of Old-Fashioned drinkers: find out how you can put your money where your mouth is with our special guest Jeremy Kasler, the founder and CEO of CaskX, making investing in whiskey and bourbon more accessible and transparent for investors. Access free financial resources and the episode transcript: https://bit.ly/ymyw-516 DOWNLOAD The Investing Basics Guide WATCH Financial Facts vs. Fiction: The Truth May Shock You! on YMYW TV DOWNLOAD The Retirement Readiness Guide WATCH the full interview with Jeremy Kasler of CaskX ASK Joe & Big Al for your Retirement Spitball Analysis CALCULATE your free Financial Blueprint SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:55 - How to Invest in Bourbon and Whiskey with Jeremy Kasler, Founder and CEO of CaskX (watch the full interview exclusively on YouTube) 12:17 - Watch Financial Fact vs. Fiction: The Truth May Shock You! On YMYW TV, Download the Retirement Readiness Guide 13:09 - Big Al and Joe's Favorite Bourbons or Whiskeys 15:17 - ETFs vs. Mutual Funds Explained (Mike, CO) 18:34 - Bonds, Bond Funds, TIPs, CDs: Where to Invest for Fixed Income? (Lauren, FL) 21:47 - Download the Investing Basics Guide, Calculate your Free Financial Blueprint 22:54 - Is a Balanced Fund Good for Asset Allocation in the Decumulation Phase? (DJ, Missouri) 27:33 - One-Time Roulette Investment: Should I Hire a Broker or Do It Myself? (Karen) 31:46 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 11 February 2025

Financially speaking, should Old Bear in Northern Kentucky marry his Honey? How should Sebastian in Virginia navigate the financial aspects of his separation? That’s today on Your Money, Your Wealth® podcast 515 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Famous Missourians want to know, how much is enough for retirement, and when can you take your foot off the gas? Can Paul with the Big Wallet Bridge the long gap between retiring and claiming Social Security benefits? And can Aspiring Adventurer in Oregon retire single at age 58? Access free financial resources and the episode transcript: https://bit.ly/ymyw-515 DOWNLOAD The Going Solo Guide for free WATCH: Going Solo: Navigating Your Financial Future Single on YMYW TV  ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps:  00:00 - Intro: This Week on the YMYW Podcast 00:44 - Financially Speaking, Should Old Bear Marry His Honey? (Northern Kentucky, near Cincinnati, OH) 08:20 - Navigating Finances When Separating from Your Spouse (Sebastian, VA) 14:52 - Watch Going Solo: Navigating Your Financial Future Single on YMYW TV, Download the Going Solo Guide for free 15:22 - How Much is Enough for Retirement? When Can We Take Our Foot Off the Gas? (JC Penney & Laura Ingalls Wilder, Kansas City, MO) 28:10 - How to Bridge the Long Gap Between Retirement and Social Security (Paul with the Big Wallet) 38:29 - Calculate your free Financial Blueprint 39:00 - Can I Retire at Age 58? Where to Save? Should I Do a Roth Conversion Ladder in Retirement? (Aspiring Adventurer, OR) 50:49 - YMYW Podcast Outro

Transcribed - Published: 4 February 2025

Mike and his wife in Tampa are 39 and 36, they’ve got nearly a million bucks saved. Are they on track for retirement? Kate in California is 55 and hopes to retire in the next couple of years. How should she manage deferred compensation and retirement withdrawals? That’s today on Your Money, Your Wealth® podcast number 514 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Plus, Joe and Big Al answer questions from our YouTube viewers on considering IRMAA when making Roth conversions, paying Roth conversion taxes quarterly or in December or in January, protecting a gifted house from a child’s ex, and the tax impact of rebuilding on an inherited property. Finally, 8 years ago, Joe and Big Al said you shouldn’t have more than 2% of your portfolio in gold and one YouTube viewer said that did not age too well. What do the fellas think today? We’ll find out. Access free financial resources and the episode transcript: https://bit.ly/ymyw-514 DOWNLOAD the Cruising Into Retirement Checklist and Guide WATCH How to Cruise Into Your Retirement on YMYW TV DOWNLOAD the Withdrawal Strategy Guide for free ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:56 - 39 & 36 With Nearly $1M. How Are We Doing? (Mike, Tampa, FL) 07:30 - Watch How to Cruise Into Your Retirement on YMYW TV, Download the Cruising Into Retirement Checklist and Guide by Friday, Jan. 31, 2025! 08:14 - Hoping to Retire in the Next Couple of Years. How Should I Manage Deferred Comp and Withdrawals? (Kate, CA, 55) 16:23 - Download the Withdrawal Strategy Guide for free 16:56 - Roth Conversions Prior to IRMAA for Alex in podcast 510? (Thomas, YouTube) 18:54 - How to Pay Roth Conversion Taxes Before Filing 2024 Taxes? (PoolMileThirty, YouTube) 21:39 - Paying Roth Conversion Tax in December vs. January (TacticalTruth, YouTube) 22:53 - How To Avoid Child's Ex Taking Half of Gifted House? (Emjay, YouTube) 23:53 - Will Kids Keep Stepped Up Basis If They Build New House on the Property? (Thaigera, YouTube) 27:53 - Gold Doesn't Grow? That Didn't Age Well (Eldon, YouTube comment) 29:39 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 28 January 2025

Today on Your Money, Your Wealth® podcast 513 with Joe Anderson, CFP®, and Big Al Clopine, CPA, YMYW listeners in their 40s are ready to call it quits at work, become financially independent, and retire early. Can they afford to do it? Peter and Joanna want to retire in the next two years. "Burned Out and Ready to Retire" wants out of his toxic office. If Maryland Chicken Man never earns another dollar, how much can he withdraw from his retirement accounts each year? Plus, Suzanne in Massachusetts is 69 and needs $60K annually for 30 years. Is she all right? Access free financial resources and the episode transcript: https://bit.ly/ymyw-513 DOWNLOAD the 2025 Key Financial Data Guide for free WATCH 10 Big Retirement Regrets to Avoid (Before It’s Too Late) on YMYW TV CALCULATE your Free Financial Blueprint SCHEDULE your Free Financial Assessment ASK Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps:  00:00 - Intro: This Week on the YMYW Podcast 01:09 - We're 45 and 44. Can We Retire in the Next 2 Years? (Peter & Joanna, NJ) 10:24 - Watch 10 Big Retirement Regrets to Avoid (Before It’s Too Late) on YMYW TV, Calculate your Free Financial Blueprint 11:23 - I'm 42 and I Work in a Toxic Office. Can I Afford to Retire? (Burned Out and Ready to Retire, NJ) 21:53 - Download the 2025 Key Financial Data Guide for free 22:32 - I’m 69 and Need $60k/Year for the Next 30 Years. Am I All Right? (Suzanne, MA) 25:19 - I'm 45. If I Never Earn Another Dollar How Much Can I Withdraw Every Year? (Maryland Chicken Man) 34:54 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 21 January 2025

What is the risk with BDCs, or business development company funds? Edward in Illinois wants to know. Do Pebbles and Bam Bam in Kentuckystone have too much invested in T-bills? Are mutual funds or ETFs a better place for them to invest qualified money in the decumulation phase? Is there a difference between a traditional IRA and a rollover IRA? And Keith in Connecticut is 34 and wants a spitball on whether his investments are appropriate for his time horizon, today on Your Money, Your Wealth® podcast number 512 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Gus in Philly needs a withdrawal strategy for his dad’s multi-year guaranteed annuities (MYGAs). Speaking of MYGAs, YouTube viewer Ken thinks everyone should invest in MYGAs and bonds, and nobody should ever pay a financial advisor. What do Joe and Big Al think? And finally, comments on your state of residence for tax purposes from Greg, the prorated sale of a primary residence, and bonds vs. pension from Keith, and 7SideWays tells the fellas to focus on PERMA already - but what is it? Access free financial resources and the episode transcript: https://bit.ly/ymyw-512 LIMITED TIME OFFER: DOWNLOAD The DIY Retirement Guide before the Special Offer changes on Friday January 17, 2025! SCHEDULE your Free Financial Assessment ASK Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:09 - What’s the Risk with Business Company Development (BDC) Funds? (Edward, IL) 04:04 - T-Bills, Decumulation, IRAs, and Investing Strategies (Pebbles & Bam Bam, Kentuckystone) 11:21 - LIMITED TIME OFFER: Download the DIY Retirement Guide by Friday, Jan 17, 2025! 12:24 - I’m 34. Are My Investments Appropriate for My Time Horizon? (Keith, CT) 18:22 - Multi-Year Guaranteed Annuity (MYGA) Retirement Withdrawal Strategy for Dad (Gus in Philly) 22:34 - Just Buy MYGAs and Bonds and Don't Pay an Advisor (comment from Ken, YouTube) 27:36 - Schedule a Free Financial Assessment with Pure Financial Advisors, Learn More about Pure's Fees and Services 28:47 - State Taxes vs. State of Residency (comment from Greg, Temecula) 30:17 - Favor Questions from People with Less than $6M Please (comment from Ed, YouTube) 31:08 - Prorated Sale of Primary Residence (comment from Keith, YouTube) 33:01 - $1M Bonds vs. $40K/yr Pension (comment from Keith, YouTube) 34:54 - Focus on PERMA Already (comment from 7SideWays, YouTube) 36:11 - YMYW Podcast Outro

Transcribed - Published: 14 January 2025

YMYW friends, welcome to 2025. Today on Your Money, Your Wealth® podcast number 511, we’re revisiting your favorite topics of 2024 as Joe Anderson, CFP® and Big Al Clopine, CPA spitball on strategies for building up tax-free retirement income in Roth accounts, determining your appropriate mix of taxable, tax-deferred, and tax-free savings (also known as tax diversification), and whether YMYW viewers and listeners can retire as soon as possible. Access free financial resources and the episode transcript: https://bit.ly/ymyw-511 DOWNLOAD the 2024 Key Financial Data Guide for free CALCULATE your Free Financial Blueprint SCHEDULE your Free Financial Assessment ASK Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter LISTEN to the Best of the YMYW Podcast 2021,  2022,  2023 LISTEN to the Top Funniest Moments from the YMYW Podcast Vol. 1, Vol. 2 Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:59 - Can We Afford to Spend $120k/Year Inflation Adjusted in Retirement? (Joe & Angelina Jolie, Strawberry Plains, TN) From ep. 503: YMYW Most Plays in 2024 on Apple Podcasts, YMYW Most Streamed in 2024 on Spotify 08:14 - Can I Contribute to My Wife’s Roth IRA? Can I Max Out Multiple Roth Accounts? Should We Do Roth Conversions? (Theodore & Louise, Seattle, WA) From ep. 504: YMYW Most Consumed in 2024 on Apple Podcasts, YMYW Most New Subscribers in 2024 on YouTube 15:21 - Download the 2024 Key Financial Data Guide for free. Subscribe to the YMYW podcast, the YouTube channel, and the YMYW newsletter, and get the 2025 guide as soon as it's released! 16:46 - We Want to Retire As Soon as Humanly Possible. Brokerage vs. Solo 401(k) for Surplus Funds? (Ricochet J, CO) From ep. 505: YMYW Most Engaged Listeners in 2024 on Apple Podcasts, YMYW Most Listeners in 2024 on Spotify 31:05 - How Much Money Do We Need to Retire ASAP? (Barney and Betty, NE New Jersey) From ep. 493: YMYW Most Engaged Listeners in 2024 on Amazon Music 44:20 - Calculate your Financial Blueprint, Schedule a Financial Assessment 45:39 - Ed Slott: How Much Money Can You Save in Taxes With Good Tax Planning? What About People Who Don’t Have the Money to Pay the Tax on a Roth Conversion? From ep. 489: YMYW Most Views & Watch Time in 2024 on YouTube 51:51 - Tax Diversification General Guidelines? (Brian, Naperville, IL) From ep. 468: YMYW Most Downloaded Across All Podcast Platforms in 2024 57:33 - Andi's Favorite Derail of 2024: Clark & Ellen Griswold, Tuktoyaktuk reading Derail from ep. 498 1:01:07 - Outro: 2024 YMYW Podcast Stats

Transcribed - Published: 7 January 2025

Does it make sense for Alex and his wife in Massachusetts to do Roth conversions now to the top of their eventual tax bracket? Steve in San Diego got serious about saving for retirement after Joe and Big Al gave him some tough love 5 years ago. Is he good to retire now, and should he convert to Roth? That’s today on Your Money, Your Wealth® podcast number 510 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, can Barbara in New Jersey’s grandson move excess 529 funds to a Roth and withdraw the money after 5 years? PWare has a cunning plan to gift appreciated stock to avoid capital gains tax, but will it work? Should Mike create a limited liability company for his rental properties? And finally, qualified charitable distributions don’t make sense to GetSmart Paul. Sherri in California wonders if her kids can inherit her savings account without any tax penalty, and whether there’s a safe, high-yielding investment she should put it in. And Houry in New York wonders if her IRA can fund a charitable remainder unitrust, or CRUT. Access free financial resources and the episode transcript: https://bit.ly/ymyw-510 DOWNLOAD The Complete Roth Papers Package DOWNLOAD The Retirement Readiness Guide WATCH Retirement Pop Quiz: 18 Questions to Get You Ready to Retire on YMYW TV LISTEN to Steve in San Diego's 2019 question Al: "Maybe you gotta live in a trailer somewhere." Joe: "that side hustle, you better be able to do that in a wheelchair." LISTEN to YMYW Podcast Best of 2021, 2022, and 2023 REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:08 - Should We Do Roth Conversions to Our Eventual Tax Bracket? (Alex, MA) 07:51 - YMYW Tough Love Made Me Get Serious. When Can I Retire? Should I Do Roth Conversions? (Steve, San Diego, CA) 14:11 - Download the Complete Roth Papers Package for free 14:59 - Can Grandson Withdraw 529 Funds From Roth After 5 Years? (Barbara, NJ) 18:37 - Can We Avoid Capital Gains Tax With This Appreciated Stock Gifting Strategy? (P Ware) 20:57 - Should I Create an LLC for Rental Properties? (Mike, voice) 23:00 - Qualified Charitable Distributions Don’t Make Sense to Me (GetSmart Paul, YouTube) 24:59 - Watch the Retirement Pop Quiz on YMYW TV, Download the Retirement Readiness Guide for free 25:45 - Do My Kids Inherit My Savings Account Without Tax Penalty? What’s a Safe, High-Return Investment for Them? (Sherri, CA) 27:18 - Can an IRA Fund a Charitable Remainder Unitrust? (Houry, NY) 31:43 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 31 December 2024

When should Richie and Heather and Rebecca and Sam collect their Social Security benefits? Why is Dan’s benefit so much higher than his wife’s? PWare has a Roth conversion case for claiming Social Security AFTER age 70, and Jerry wonders how Donald Trump’s plan to stop taxing Social Security could impact claiming strategies. Plus, Joe rants about Rebecca and Sam’s $1 million single premium deferred indexed annuity, and the fellas also spitball on their Roth conversion and retirement strategy and how much is too much when it comes to paying advisor fees. Access free financial resources and the episode transcript: https://bit.ly/ymyw-509   DOWNLOAD the Social Security Handbook CALCULATE your free Financial Blueprint online SCHEDULE your free Financial Assessment with an experienced professional Ask Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:00 - When Should We Take Social Security? Should We Convert Our IRAs to Roth? (Richie & Heather, ID - voice) 09:04 - Download the Social Security Handbook 10:01 - What Should I Do With a $1M Single Premium Deferred Indexed Annuity? When Should We Take Social Security? Is 2% Advisor Fee Excessive? (Rebecca and Sam, VA) 28:03 - Calculate your Financial Blueprint online, Schedule an Assessment with a financial professional 29:25 - Why Is My Spouse’s Social Security Benefit So Much Lower Than Mine? (Dan) 30:51 - The Roth Conversion Case for Drawing Social Security After Age 70 (P Ware, YouTube) 36:55 - Would Tax-Free Social Security Income Impact Claiming Strategies? (Jerry, Phoenix, AZ) 42:08 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 24 December 2024

John in Pennsylvania doesn’t have bonds in his investment portfolio. Should he add them, and if so, where? That’s today on Your Money, Your Wealth® podcast number 508 with Joe Anderson, CFP® and Big Al Clopine, CPA. The fellas also spitball on retirement plans for James in Tierrasanta, California, who has $4 million plus annuities, Esther in the San Francisco Bay Area, who has nearly $12M net worth, and Tiger and Lioness, who wonder about a safe level of lifestyle creep. Also, Charlie in Castlerock, Colorado has an “exciting” new question on how to balance collecting Social Security with making withdrawals from his pre-tax retirement account for living expenses. And a Worrywart Mom in Seattle asks whether her 27-year-old daughter should focus on paying off her student loans or saving for the future. Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-508 DOWNLOAD the Retirement Income Strategies Guide DOWNLOAD the Social Security Handbook DOWNLOAD the Retirement Readiness Guide WATCH Retirement Sabotage! on YMYW TV REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:58 - Where Should We Add Bonds in Our Investment Portfolio? (John, PA) 06:58 - Does Our Retirement Spending Plan Work? What's a Safe Level of Lifestyle Creep? (Tiger & Lioness) 13:39 - Download the Retirement Income Strategies Guide for free 14:24 - Collecting Social Security vs. Living Off of Pre-Tax Retirement Withdrawals (Charlie, Castlerock, CO) 21:52 - Download the Social Security Handbook for free 22:27 - Should 27 Year Old Pay Off Student Loan or Save for the Future? (Worrywart Mom, Seattle, WA) 27:01 - I Have $11.8M Net Worth and Want to Retire in 2 Years. Can I Pull This Off? (Esther, SF Bay Area) 32:41 - Watch Retirement Sabotage: 12 Post-Retirement Money Mistakes to Avoid on YMYW TV, download the Retirement Readiness Guide for free 33:40 - We Have $4M + Annuities and Want $180K/Year in Retirement. What Do You Think? (James, Tierrasanta, CA) 39:42 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 17 December 2024

Joe Anderson, CFP® and Big Al Clopine, CPA spitball on paying the tax on your Roth conversions on Your Money, Your Wealth® podcast number 507. If you take the money out of your retirement account, what does Joe mean that you’ll be “paying the tax to pay the tax to pay the tax”? Can you pay it from the Roth account itself, or from your monthly pension tax withholding? Are the fellas wrong on this whole topic altogether? They also spitball on withdrawing Roth 401(k) contributions that were rolled to an IRA, those infamous 5-year rules for withdrawals from Roth accounts, when to do Roth conversions, saving to tax-deferred, taxable, or tax-free accounts, and how long-term capital gains taxes fit into the picture. Plus, consolidating individual stock investments and the fate of the home office deduction, and what Joe thinks about the Apple Podcasts reviewer that says he’s checked out. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-507 DOWNLOAD The 5 Year Rules for Roth IRA Withdrawals  DOWNLOAD The Withdrawal Strategy Guide WATCH How to Break Through Retirement Barriers on YMYW TV CALCULATE your free Financial Blueprint REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:06 - Can I Withdraw Roth 401(k) Contributions That Were Rolled to IRA? (Peter LemonJello, FL) 05:32 - Paying the Tax to Pay the Tax” on Roth Conversions Clarified (David) 09:13 - Should We Save to Tax-Deferred Accounts, Backdoor Roth, or Brokerage? (David & Victoria, Cincinnati, OH) 15:23 - Watch How to Break Through Retirement Barriers on YMYW TV, Calculate Your Free Financial Blueprint 16:17 - Should I Do Roth Conversions at Age 66 If I Want to Retire at 70? (Mike, PA) 17:49 - You’re Wrong About Roth Conversion Tax Payments (Robert, YouTube) 20:20 - Can I Pay Roth Conversion Tax From Monthly Pension Withholding? (Big Toe Knee, YouTube) 20:45 - Should I Consolidate Individual Stocks Into ETFs? (Lu, YouTube) 22:44 - Do I Understand the 5-Year Rules for Roth Withdrawals? (NR, YouTube) 25:51 - Download the 5-Year Rules for Roth IRA Withdrawals and the Withdrawal Strategy Guide 26:39 - Was the Home Office Deduction Eliminated Under the Tax Cuts and Jobs Act? (George, YouTube) 27:30 - Contributing to Roth vs. Pre-Tax: Would It Count as Long-Term Capital Gains? (Moriel, YouTube) 30:16 - Is it a Good Idea to Pay Roth Conversion Tax Out of the Roth? (Michelle, Facebook) 31:35 - Joe is Completely Checked Out (Anonymous Apple Podcasts Review) 33:19 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 10 December 2024

What’s a safe withdrawal rate for Wine Guy and Wine Gal in Sonoma California to have 35 years of “guaranteed” retirement spending? How aggressively should they convert their retirement savings to Roth IRA? Should the Bond family move from Silicon Valley to a no-income-tax state in retirement? Can Doc in San Francisco quit work in 8 years when his daughter starts college? Rob in Kansas City and his wife are in their late 30s and have 2 million saved. Can they retire early? Plus, Elisa in Fremont has more than the capital gains exclusion for a married couple of $500,000 worth of home equity. How much will this cost her, and will it kill her IRMAA for Medicare premiums? Should Happy Camper and Jolly Pumpkin take their pension’s monthly annuity or the lump sum payout? And finally, Lloyd in South Dakota isn’t a fan of retirement accounts and wants Joe and Big Al to talk some sense into him. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-506 CALCULATE your Financial Blueprint SCHEDULE your Financial Assessment WATCH Financial Planning at Every Age on YMYW TV DOWNLOAD The Retirement Readiness Guide for free READ THE BLOG: It's Not Too Late! Year-End Financial Moves to Make Right Now READ THE BLOG: US National Debt and the Impact on Long-Term Investing REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter   Timestamps:  00:00 - Intro: This Week on the YMYW Podcast 01:05 - What’s Our Guaranteed Safe Withdrawal Rate for 35 Years of Retirement? How Aggressive Should We Convert to Roth? (Wine Guy/Gal, Sonoma, CA) 12:09 - Calculate your Financial Blueprint, schedule a Free Financial Assessment 13:45 - Should We Move to a No Income Tax State in Retirement? (James Bond, Silicon Valley, CA - voice) 20:50 - Can I Stop Working in 8 Years When Daughter Starts College? (Doc, San Francisco, CA) 26:10 - Late 30s With $2M. Are We Really on Track for Early Retirement? (Rob, Kansas City) 31:20 - Watch Financial Planning at Every Age on YMYW TV, download the Retirement Readiness Guide 32:25 - Our Home Equity is Over the $500K Exclusion. How Much Will We Be Charged? Will This Kill My IRMAA? (Elisa, Fremont, CA) 35:44 - Should We Take the Monthly Pension or Lump Sum Payout? (Happy Camper & Jolly Pumpkin, WI) 43:03 - I'm Not a Fan of Retirement Accounts. Talk Some Sense Into Me. (Lloyd Christmas, SD) 49:04 - Outro: Read the blogs, It's Not Too Late! Year-End Financial Moves to Make Right Now and US National Debt and the Impact on Long-Term Investing

Transcribed - Published: 3 December 2024

Ricochet J in Colorado and her husband want to retire as soon as humanly possible. Are they on track? Should they save their surplus funds to a brokerage account or a solo 401(k)? That’s today on Your Money, Your Wealth® podcast 505 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Micah in South Dakota wonders whether having a $40,000 a year pension is basically the same as having a million dollars in bonds, according to the four percent rule. What do Joe and Big Al think? Barney and Betty will be in the 12% or 22% marginal tax bracket, but their effective tax rate will only be between 10% and 12.4%, so how much should they convert to Roth? Are they asking the right question? And finally, Joe and Big Al spitball on ways to ensure that Amir in New Mexico has the maximum possible retirement income to last him to age 90 or 95. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-505 DOWNLOAD The Complete Roth Papers Package for free WATCH Your 11-Step Path to Financial Freedom on YMYW TV CALCULATE your free Financial Blueprint REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:04 - Save to Brokerage vs. Solo 401(k) to Retire as Soon as Humanly Possible? (Ricochet J, CO) 15:23 - Watch Your 11 Step Path to Financial Freedom on YMYW TV, Calculate your free Financial Blueprint 16:36 - Is a $40K/yr Pension Similar to $1M in Bonds According to the 4% Rule? (Micah, SD) 18:48 - Marginal vs. Effective Tax Rates: How Much to Convert to Roth? (Barney & Betty) 22:58 - Download the Complete Roth Papers Package 23:48 - How to Have Maximum Possible Retirement Income to Age 90-95? (Amir, NM) 30:13 - Outro - Next Week on the YMYW Podcast

Transcribed - Published: 26 November 2024

Can Ted and Georgette convert $1.6M in an inherited trust to Roth without distributing it? Should the trust own their home so they can use the home equity? Melissa was added as joint owner on her parents’ bank accounts after a medical event, but what have they done? Should Ralph and Alice use the required minimum distribution from their inherited IRA to pay Roth conversion taxes? That’s today on Your Money, Your Wealth® podcast 504 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, can Theodore contribute to a his wife Louise’s Roth IRA? Can Marc make Roth contributions for his grandkids? Also, Joe and Al come up with a very unique way that John may be able to pay the tax on his Roth conversion using his home equity.  Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-504 DOWNLOAD by Friday: Top 10 Tax Tips Guide - limited time special offer! WATCH 10 Tax-Cutting Moves to Make Now - YMYW TV DOWNLOAD: Identity Theft Guide WATCH: How to Protect Yourself from Scams: Cybersecurity webinar on demand REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro 01:00 - Can We Convert an Inherited Trust to Roth Without Distributing It? Should the Trust Own Our Home? (Ted & Georgette Baxter, Madison, WI) 10:02 - Watch 10 Tax-Cutting Moves to Make Now on YMYW TV, Download the Top 10 Tax Tips Guide before this Friday! 11:08 - I’m Joint Owner of My Parents’ Bank Accounts. What Have We Done? (Melissa, Rockport, TX) 16:35 - Can I Contribute to My Wife’s Roth IRA? Can I Max Out Multiple Roth Accounts? Should We Do Roth Conversions? (Theodore & Louise, Seattle, WA) 23:43 - Should We Use Inherited IRA RMD to Pay Roth Conversion Tax? (Ralph & Alice Kramden, SC) 27:35 - Can I Fund Roth IRAs for My Grandchildren? (Marc, Encinitas) 28:40 - Watch the Cybersecurity Webinar on demand, Download the Identity Theft Guide 29:32 - Should We Maximize the 24% Tax Bracket With Roth Conversions This Year and Next? (John) 37:55 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 19 November 2024

When should Jack and Swan in Florida pay off their home, retire, and convert their savings to Roth for lifetime tax-free investment growth? Jennifer in Colorado wonders whether she should take taxes into account when calculating her expenses, and whether she should pay off her home to be debt-free in retirement? That’s today on Your Money, Your Wealth® podcast 503 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, should Kevin in Scottsdale collect Social Security in 2025, or postpone and do Roth conversions over the next two years? Should Skipper in Texas do Roth conversions to the top of the 24% tax bracket instead of the 22? And just how closely will Big Brother watch his state of residency if Skipper buys homes in Florida and another location for his retirement? Harry Tasker in Minnesota’s wife Helen says he needs to continue working. Is that a true lie? Harry asks Joe and Big Al to spitball on whether he and Helen can stay home during their go-go years. And can the Tomb Raiders afford to spend $120,000 a year in retirement? Access free financial resources and the episode transcript: https://bit.ly/ymyw-503 WATCH ON YOUTUBE: https://youtu.be/Xfl7gvIs2rU DOWNLOAD: Social Security Handbook for free CALCULATE: Your Financial Blueprint for free WATCH: 6 Secrets to Bigger Tax Savings from Your Nonprofit Donations on YMYW TV DOWNLOAD: Tax-Smart Charitable Giving Guide for free REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:16 - When to Pay Off the Home, Retire, and Do Roth Conversions? (Jack & Swan, FL - voice) 06:10 - Should We Include Taxes in Annual Expenses? (Jennifer, CO) 09:47 - Draw Social Security in 2025, or Postpone and Convert to Roth in 2025 and 2026? (Kevin, Scottsdale, AZ) 14:57 - Download the Social Security Handbook, Calculate Your Financial Blueprint 16:08 - Should We Pay Off the House to Be Debt Free in Retirement? (Jennifer, CO) 21:08 - State Tax Spitball: Should I Convert Even More to Roth? Does Big Brother Really Count the Days for State Residency? (Skipper, TX) 29:54 - Watch 6 Secrets to Bigger Tax Savings from Your Nonprofit Donations on YMYW TV, Download the Tax-Smart Charitable Giving Guide 30:39 - Can We Both Stay Home in the Go-Go Years? Wife Says I Have to Go Back to Work (Harry & Helen Tasker, MN) 43:40 - Can We Afford to Spend $120k/Year Inflation Adjusted in Retirement? (Tomb Raiders, Strawberry Plains, TN) 51:29 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 12 November 2024

Can Bauer in Illinois retire at age 57, and when should he collect Social Security? More importantly, can he afford a $300,000 motor home? Can Brad in Michigan coast for the next 10 years and still reach the promised land of retirement somewhere around age 53? Joe Anderson, CFP® and Big Al Clopine, CPA spitball early retirement, today on Your Money, Your Wealth® podcast 502. Plus, it seems weird to Elizabeth in Connecticut that nearly all of her $5M is in taxable accounts. Is that good or bad? N&N in San Francisco Bay Area have $10 million liquid. Should they make Roth contributions and Roth conversions now, or wait until they retire? Access free financial resources and the episode transcript: https://bit.ly/ymyw-502 WATCH: How to Avoid Wealth Busters on YMYW TV DOWNLOAD the Wealth Busters to Avoid Guide CALCULATE your Financial Blueprint for free REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 00:58 - Can I Retire at 57? When to Collect Social Security? Can I Afford a Motorhome? (Bauer & Laney, Mundelein, IL - voice) 07:47 - Can We Coast and Still Reach the Retirement Promised Land in Ten Years? (Brad, MI) 14:20 - Watch How to Avoid Wealth Busters on YMYW TV, download the Wealth Busters to Avoid Guide 15:00 - We've Got $10M Liquid: Roth Contributions & Conversions Now or Wait Until Retirement? (N&N, SF Bay area) 24:58 - Calculate Your Free Financial Blueprint 25:36 - Seems Weird That Our Money is in Taxable Accounts. Is That Good or Bad? (Elizabeth, CT) 31:57 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 5 November 2024

Should Suzanne in Michigan do Roth conversions in 2025 and 2026 since she’s widowed and won’t be married filing jointly? How should she pay the tax on her conversions? Jennifer in Washington state is 55 and her husband is 70. Should she retire now and do aggressive Roth conversions before her husband passes? We’re talking about the widow’s tax, today on Your Money, Your Wealth® podcast number 501 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, answers to questions from our YouTube viewers: what’s a brokerage account? What’s a good way to pay required minimum distirbution taxes? How does the 10 year rule work on inherited IRAs? What are extended market index funds? The fellas also spitball on the 4% rule for retirement withdrawals. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-501 DOWNLOAD: 2024 Key Financial Data Guide for free WATCH: Harris Vs. Trump - Cancel the Noise: Economic and Market Impact of the 2024 Election webinar CALCULATE your Financial Blueprint for free REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter  

Transcribed - Published: 29 October 2024

For 499 episodes of YMYW, Joe Anderson, CFP® and Big Al Clopine, CPA have been making fun of finance. On episode 500, we’re celebrating The Top Funniest Moments From the Your Money, Your Wealth® Podcast, Vol. 2. (Check out episode 300 from way back in November of 2020 for Vol. 1.) For this episode, Executive Producer Andi Last compiled some rare, never before seen, can’t-miss Derails, jokes, stories, screw-ups, and outtakes... from two talking heads sitting at a desk. We appreciate you following, watching, laughing, and commenting on YouTube or Spotify, but if you’re listening in Apple Podcasts or another podcast app you’ll laugh just as much. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-500 CALCULATE: A Financial Blueprint of your retirement readiness for free SCHEDULE: free financial assessment WATCH: Recipe for Retirement | Retirement Plans Explained on YMYW TV REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter 00:00 - Intro 00:51 - How to Ask Joe and Big Al On Air 01:20 - More Funnier 03:06 - Making Fun of Finance 08:06 - Don't Change a Thing 09:13 - Spitballing, Not Advice 09:41 - Watch Recipe for Retirement on YMYW TV 10:32 - Story Time: Al's Mid-life Crisis, Al's VW Rabbit, Joe's Travel Experiences, Hans' Paintings, Joe the Player, Joe the Dancer, Color Me Badd, Ricky Runs Fast, You're a 1099, FIRE, Retirement Planning Dinners, Movie Talk, RVO, Joe vs. the Holidays, Ice Skating 35:10 - Joe and Big Al... Are Human 39:56 - Calculate Your Financial Blueprint, Schedule a Free Financial Assessment 41:22 - More Joe and Big Al... Are Human 46:32 - Outro 47:05 - The YMYW Family 48:24 - The Biggest Derail Ever

Transcribed - Published: 22 October 2024

Are real estate investment trust (REIT) ETFs a good way for Leon to begin investing in real estate? Can AI Seth stay retired at age 52, and should he do Roth conversions? Jenn in Ohio wants the fellas to be brutally honest about whether she should move with work, take a break, or retire now. And "George and Weezy" are in their mid-50s - can they "move on up" to a deluxe retirement lifestyle in 2026, or even earlier? That’s all today on Your Money, Your Wealth® podcast 499 with Joe Anderson, CFP® and Big Al Clopine, CPA. Access free financial resources and the episode transcript: https://bit.ly/ymyw-499 DOWNLOAD | Growing Your Wealth Guide WATCH | Steps to Financial Success: Grow Your Wealth at Any Age on YMYW TV CALCULATE: A Financial Blueprint of your retirement readiness for free REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment LISTEN | Top Funniest Moments From the YMYW Podcast (Vol. 1) - ep. 300 LISTEN | The YMYW AI song SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter 00:00 - Intro: This Week on the YMYW Podcast 00:47 - Are REIT ETFs a Good Way to Get Into Real Estate Investing? (Leon, Chicago - voice) 09:15 - Watch Steps to Financial Success: Grow Your Wealth at Any Age on YMYW TV, Download the Guide to Growing Your Wealth 09:49 - Can AI Seth Stay Retired at Age 52? Should He Do Roth Conversions? (Montana, voice) 16:41 - Move With Work, Take a Break, or Retire Now? Be Brutally Honest (Jenn, OH) 21:23 - Calculate Your Financial Blueprint, Schedule a Financial Assessment - both free! 22:02 - Deferred Comp: Can “George and Weezy” Retire in 2026 or Earlier? (IL) 33:18 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 15 October 2024

Hawkeye and Elle are age 61 and in the 32% tax bracket. How should they get money into their Roth accounts for tax-free retirement income? Clark and Ellen are 69 and 68, expenses will pretty much be covered by their fixed income, but they’d like to leave Roth money to their kids. Should they keep converting to Roth, or use required minimum distributions for their living expenses? Tom and his wife are 73, and fixed income will cover their retirement spending too. Is it advantageous to them to make three huge Roth conversions beyond their marginal tax bracket to reduce future RMDs? Should they keep things simple by leaving their money in an S&P 500 Index Fund? That’s today on Your Money, Your Wealth® podcast 498 with Joe Anderson, CFP® and Big Al Clopine, CPA. Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-498 This is our first official video podcast! You can watch us right now on YouTube LIMITED TIME SPECIAL OFFER | Download The DIY Retirement Guide before Friday, October 11, 2024! Once the Special Offer changes on Friday, the DIY Guide will be unavailable for several months! CALCULATE: A Financial Blueprint of your retirement readiness for free REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: Free Financial Assessment LISTEN | Top Funniest Moments From the YMYW Podcast (Vol. 1) - ep. 300 SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter 00:00 - Intro: This Week on the YMYW Podcast 01:05 - Tax-Free Roth Strategy When in the 32% Tax Bracket? (Hawkeye & Elle Woods, Atlanta) 12:28 - Limited Time Special Offer: Download the DIY Retirement Guide before the Special Offer changes on Friday, Oct 11 13:31 - Spitball on Roth Conversions vs. RMDs, And Should We Buy More Bonds? (Clark & Ellen Griswold, State College, PA) 27:16 - Calculate a Free Financial Blueprint, Learn About Pure's Financial Assessment 28:36 - Should We Do 3 Huge Roth Conversions to Reduce Future RMDs? (Tom, Las Vegas) 37:59 - Outro: Next Week on the YMYW Podcast

Transcribed - Published: 8 October 2024

Should David in Ohio use 457 funds to do an in-plan Roth conversion in his 403(b) plan, and should he hire a financial advisor? Chris in DC needs a retirement and Roth conversion spitball analysis, and he needs help getting out of a variable annuity. Kim is anxious that she made a mess of her finances and she wonders how much she should convert to Roth, today on Your Money, Your Wealth® podcast number 497 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what’s the best way for Alissa in Cedar Rapids, Iowa to make tax-efficient withdrawals from an inherited IRA? Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-497 CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Retirement Income Strategies Guide WATCH YMYW TV: Retirement Rebound: 5 Plays to Help You Score a Comeback REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter   Timestamps:  00:00 - Intro: This week on YMYW 00:50 - In-Plan Roth Conversions From 457 to 403(b): Do I Need a Financial Advisor? (David, OH) 10:54 - Get a Free Financial Blueprint, Learn About Pure's Financial Assessment 12:13 - Retirement and Roth Conversion Spitball + How to Get Out of Variable Annuity (Chris, DC) 20:05 - Anxious I Made a Mess of My Finances. How Much Should I Convert to Roth? (Kim) 28:13 - Watch Retirement Rebound: 4 Plays to Score a Comeback on YMYW TV, Download the Retirement Income Strategies Guide 29:08 - Inherited Assets: Best Strategy for Tax-Efficient Retirement Withdrawals? (Alissa, Cedar Rapids, IA) 42:10 - Outro

Transcribed - Published: 1 October 2024

How much should you save in pre-tax accounts vs. post-tax accounts? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "age plus 20" rule for retirement savings, Roth 401(k) contributions and distributions, and a Social Security claiming strategy for Ralph and Marie in Wilmington, Delaware. Shawn wonders if YMYW listeners are ignoring the WEP and GPO when it comes to Social Security, that is, the Windfall Elimination Provision and the Government Pension Offset. Plus, can Jake and Amy in Iowa retire in 5 years, or do they need to work beyond age 60? Should Edwin stop making Roth contributions and start doing Roth conversions instead? And finally, how can Jeff in North Dakota’s son qualify for the American Opportunity Tax Credit? Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-496 REGISTER NOW: Medicare Basics webinar - TOMORROW, Wednesday Sept. 25, 2024, 12pm Pacific, 3pm Eastern, with Robert Dow and Lisa Velasco, Medicare specialists from the Dow Agency CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Social Security Handbook DOWNLOAD: Medicare Check-Up Guide WATCH YMYW TV: Medicare Check-Up: How to Keep Your Retirement Plan Off Life Support REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter   Timestamps:  00:00 - Intro 01:09 - Roth 401(k) Contributions and Distributions, Age Plus 20 Rule, and Social Security Claiming Strategy (Ralph and Marie, Wilmington, DE) 12:35 - Download the Social Security Handbook, Download the Medicare Check-Up Guide, Watch Medicare Check-Up: How to Keep Your Retirement Plan Off Life Support on YMYW TV, Register for the Medicare Basics webinar Wed. Sept 25, 12P/3E 13:37 - Are Listeners Ignoring Government Pension Offset and Windfall Elimination Provision for Social Security? (Shawn) 17:30 - Can We Retire in 5 Years Or Do We Need to Work After Age 60? (Jake & Amy, Iowa) 26.36 - Financial Blueprint - get your complementary retirement analysis 27:45 - Should I Stop Roth Contributions and Do Roth Conversions instead? (Edwin) 31:24 - American Opportunity Tax Credit for College Age Son (Jeff, ND) 35:58 - Outro

Transcribed - Published: 24 September 2024

Today on Your Money, Your Wealth® podcast 495, Joe Anderson, CFP® and Big Al Clopine CPA spitball on three different listeners’ strategies for paying the tax on a Roth conversion now, to have lifetime tax-free growth on that money in the future. Should Neo in San Clemente, California convert to Roth at the beginning or end of the year in his plan to make quarterly estimated tax payments on his conversion? Is it a good strategy for Tim in Minnesota to use reimbursements from his health savings account to pay Roth conversion taxes? And what do Joe and Big Al think of Samantha in Northern California’s plan to convert to Roth and pay the tax with her IRA money? Plus, the fellas answer questions from our YouTube and Spotify followers on required minimum distributions from Roth accounts, reasons to put retirement withdrawals in a brokerage account instead of a Roth, choosing pension options, and the difference between commercial annuities and pension annuities. Plus, their thoughts on single premium immediate annuities (SPIA). Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-495 CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Complete Roth Papers Package  DOWNLOAD: Retirement Readiness Guide WATCH: What Happens to Your 401(k) & IRA at Retirement? YMYW TV REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps:  00:00 - Intro 01:02 - Timing of Roth Conversions - and Paying Quarterly Estimated Taxes (Neo, San Clemente) 06:37 - Is Using HSA Reimbursement to Pay Roth Conversion Taxes a Good Strategy? (Tim, MN) 08:44 - Complete Roth Papers Package - free download. Financial Blueprint - free retirement analysis 09:39 - How Is Our Plan to Convert to Roth and Pay the Tax With IRA Money? (Samantha, Northern California) 19:15 - What Happens to Your 401(k) & IRA at Retirement? Watch YMYW TV, download the Retirement Readiness Guide 20:01 - RMDs for Roth Accounts: Clarification for Solo 401k (Andy, YouTube) 21:43 - Joe and Al walk into a bar… (Tony, YouTube) 22:44 - Any Reason to Put Withdrawals in Brokerage Instead of Roth? (Globe Trotter, YouTube) 23:35 - How to Decide Between Pension Options? (Frank, YouTube) 25:40 - Is a Pension Annuity a Bad Thing? (Invictus, YouTube) 26:47 - Are SPIAs the Best Annuity for Lifetime Income? (1212482970, Spotify) 29:23 - Outro 30:58 - The Derails

Transcribed - Published: 17 September 2024

TJ in Louisiana has been sitting on the sidelines, but now it’s time to get into the market. Should he dollar cost average, or just go all in? Margaret in California has an idea of selling a stock at a loss and buying a put option on that stock that expires after the 30-day waiting period. Does this work as a tax loss harvesting strategy? When is it worth it for Brian in Charlotte, North Carolina to diversify beyond a basic three-fund portfolio? Should Christine in San Diego convert her variable annuity to a fixed indexed annuity? That’s all today on Your Money, Your Wealth® podcast 494 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, how should Dean in Columbus, Georgia invest inherited retirement money? Are Jen and John on track for retirement, and how should they fund their home remodel? Are there any negative consequences for Steve in Pennsylvania if he finds a new financial advisor just a few months after hiring his current advisor? The fellas also talk through how Chris can give money to charity from his required minimum distributions. And finally, Terry calls in with a follow-up question about whether a solo 401(k) is an option to avoid unrelated business income tax (UBIT).  Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-494 SCHEDULE: free financial assessment DOWNLOAD: Investing Basics Guide DOWNLOAD: 10 Steps to Improve Investing Success DOWNLOAD: Retirement Readiness Guide WATCH YMYW TV: How Your Home Can Create Retirement Income READ THE BLOG: Factor Investing: What Is It? Should You Be Doing It? SUBSCRIBE: YMYW on YouTube REQUEST: Retirement Spitball Analysis DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro 01:13 - I Want to Get Into the Market. Dollar Cost Average or Go All In? (TJ, Louisiana) 07:08 - Does This Tax Loss Harvesting Strategy Work? (Margaret, CA) 07:45 - When Is It Worth Diversifying Beyond a Basic Three Fund Portfolio? (Brian, Charlotte, NC) 13:33 - Factor Investing: What Is It? Should You Be Doing It? - Read the blog, Download the Investing Basics Guide and 10 Steps to Improve Investing Success 14:00 - Should I Convert a Variable Annuity to Fixed Index Annuity? (Christine, San Diego) 18:21 - How to Invest Inherited Retirement Funds and Where to Save Extra Money? (Dean, Columbus, GA) 21:50 - How Should We Fund Our Home Remodel? Are We On Track for Retirement? (Jen and John, California) 29:43 - How Your Home Can Create Retirement Income: Watch YMYW TV, Download the Retirement Readiness Guide 30:15 - Solo 401(k) to Avoid Unrelated Business Income Tax (UBIT)? (Terry - voice) 32:31 - Switching to a Fee Only Advisor: Any Negative Consequences? (Steve, PA) 37:19 - Intelligent Charitable Giving Through Qualified Charitable Distributions (Chris) 41:05 - Outro

Transcribed - Published: 10 September 2024

Can "Alanis" retire early at age 60? With "Barney and Betty’s" spending patterns, can they retire ASAP? "Daisy and Donald" need retirement income for 40 years. Can they retire now? That’s today on Your Money, Your Wealth® podcast 493 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, we review the results of the 7th Annual YMYW Podcast Survey (congratulations to jemart for winning the Amazon e-gift card!) and Joe and Big Al take on some critical YouTube comments from Keith, following their interview with Ed Slott, CPA.  Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-493 WATCH: Retirement Pop Quiz on YMYW TV DOWNLOAD: Retirement Readiness Guide REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps:  00:00 - Intro 00:57 - Are My Estimates Solid for Early Retirement at Age 60? ("Alanis", WA) 10:39 - Watch Retirement Pop Quiz on YMYW TV and Download the Retirement Readiness Guide 11:20 - How Much Money Do We Need to Retire ASAP? ("Barney and Betty", NE New Jersey) 24:36 - Can We Retire Now? ("Daisy Duck", Emerald City) 30:48 - Subscribe to the YMYW YouTube Channel 31:15 - 7th Annual YMYW Podcast Survey Results 38:54 - Comment: Keith Doesn't Like Ed Slott or Roth Conversions 47:45 - Outro 48:58 - The Derails

Transcribed - Published: 3 September 2024

What is an exchange fund and is it a good thing if you have a lot of capital gains like Bryan in New York? That's today on Your Money, Your Wealth® podcast 492 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what should be the timing and ordering of Billy Joe and Bobby Sue’s Roth conversion strategy to help them achieve 33 years of retirement income? Is Boston overspending or underspending in retirement? Should Andy keep life insurance policies for her kids with ADHD?  How does the 5-year rule for Roth withdrawals apply to inherited Roth IRAs for Karen? Visit the show notes for the YMYW Podcast Survey and secret password (only for the next three days!), plus access the free financial resources listed below, and the episode transcript: https://bit.ly/ymyw-492 SCHEDULE A FREE FINANCIAL ASSESSMENT FREE DOWNLOAD: 10 Steps to Improve Investing Success FREE DOWNLOAD:  Social Security Handbook WATCH YMYW TV: Social Security Basics You Need to Know: Common Social Security Questions Answered REQUEST: Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter YMYW Podcast Survey: Visit the show notes to access the survey and secret password   Timestamps: 00:00 - Intro 00:37 - Roth Conversion Timing, Order, and 33 Years of Income? (Billy Joe & Bobby Sue, Indiana) 12:32 - Watch Social Security Basics You Need to Know: Common Social Security Questions Answered on YMYW TV, Download the Social Security Handbook 13:17 - I Have $1.2M Capital Gains. Pros and Cons of an Exchange Fund? (Bryan, NY) 23:28 - Download 10 Steps to Improve Investing Success, last chance to complete the 7th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (type in ymyw) 24:15 - We’ll Have $7M. Are We Underspending or Overspending in Retirement? (Boston) 35:13 - Should We Keep Life Insurance Policies for Adult Kids with ADHD? (Andrea, Seattle) 41:50 - How Does the 5-Year Rule for Roth Withdrawals Apply to Inherited Roth IRAs? (Karen, TX) 45:15 - Outro 46:22 - The Derails

Transcribed - Published: 27 August 2024

What do Joe Anderson, CFP® and Big Al Clopine, CPA think about alternative investments? Andrew in Ohio wants to know. Are real estate syndication deals for real, and a YMYW listener just chose poorly? And Stewart in Serra Mesa is curious whether Joe has changed his position on annuities lately, as rates have “normalized” in the past couple of years? That’s today on Your Money, Your Wealth® podcast number 491. Plus, when should Steve in Las Vegas’ friend quit her casino job and collect Social Security and child benefits? And how is D in the Midwest’s plan for creating income in retirement? Visit the show notes to access the YMYW Podcast Survey and secret password, free financial resources, and episode transcript: https://bit.ly/ymyw-491 SCHEDULE A FREE FINANCIAL ASSESSMENT FREE DOWNLOAD: Investing Basics Guide READ THE BLOG: Benefits of Systematic Rebalancing REQUEST: Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter YMYW Podcast Survey: Visit the show notes to access the survey and secret password Timestamps: 00:00 - Intro 00:457 - Real Estate Syndication Deals: Did We Just Make Bad Decisions? (Anonymous) 07:57 - Thoughts on Alternative Investments? (Andrew, OH) 12:54 - Read The Benefits of Systematic Portfolio Rebalancing and Download the Investing Basics Guide 13:31 - Has Joe Modified His Position on Annuities Lately? (Stewart, Serra Mesa, CA) 24:42 - Principal Protected Investing Options for Structured Settlement for a Minor: Annuity? (Speedy Gonzalez, Western NY) 29:52 - 7th Annual YMYW Podcast Survey: your chance at a $100 Amazon e-gift card! 30:35 - When to Stop Work and Claim Social Security and Child Benefits? (Steve, Las Vegas - voice) 34:58 - How’s Our Plan for Retirement Income? (D, Midwest) 44:40 - Outro 45:53 - The Derails

Transcribed - Published: 20 August 2024

Can Claire and her husband retire early at age 60? Today on Your Money, Your Wealth® podcast number 490, Joe Anderson, CFP® and Big Al Clopine, CPA spitball for them and explain how to calculate how much you’ll need in retirement. Plus, should Jeff invest his pension money more aggressively, and should he save to his thrift savings plan or his Roth? Should Paula save to her brokerage account or her 401(k)? When and how much should Ken and Fume Guzzler each convert to Roth? The IRS charged Lex late fees for not paying estimated taxes throughout the year on her Roth conversion - find out how to avoid that yourself. Finally, how can Ken get out of an annuity? And is it harmful for Sarah to advise co-workers with little financial experience? Visit the show notes to access the YMYW Podcast Survey and secret password, all of the following free financial resources, and the episode transcript: https://bit.ly/ymyw-490 SCHEDULE A FREE FINANCIAL ASSESSMENT FREE DOWNLOAD: Retirement Readiness Guide WATCH: Is There a Formula For Retirement? - YMYW TV REQUEST: Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter YMYW Podcast Survey: Visit the show notes to access the survey and secret password Timestamps: 00:00 - 7th Annual YMYW Podcast Survey: your chance at a $100 Amazon e-gift card! 00:46 - Show Intro 01:36 - Retirement Spitball: Do You Agree We Can Both Retire at Age 60? (Claire, OR) 10:03 - Retirement Spitball: More Aggressive With Pension? TSP Instead of Roth? (Jeff, South Carolina) 15:09 - Retirement Spitball: TSP + Rollover IRA = $3M. Convert to Roth? (Fume Guzzler, NYC) 20:33 - Is There a Formula for Retirement? Watch YMYW TV, Download the Retirement Readiness Guide 21:42 - Is It Harmful to Give Advice to Coworkers With Little Financial Experience? (Sarah, Phoenix, AZ) 26:17 - How to Get Out of an Annuity (Ken - voice) 29:03 - Tax-Efficient Retirement Distributions: How’s Our Roth Conversion Strategy? (Ken, Southern California - voice) 33:49 - How to Request a Retirement Spitball Analysis 34:40 - IRS is Charging Me Late Fees for Not Paying Estimated Taxes on Roth Conversion! (Lex Martin, Maryland) 38:43 - Should I Save to the Left Pocket (Brokerage) Instead of the Right (401(k)? (Paula, TX) 46:26 - Show Outro 48:02 - The Derails

Transcribed - Published: 13 August 2024

The single biggest retirement planning mistake to avoid, the problem with tax professionals, and answers to some of the most frequently asked retirement questions we get on YMYW: should you name a trust as beneficiary on your retirement accounts? What’s the break-even point on a Roth conversion? What if you don’t have the money to pay the tax when you convert to Roth? Plus, find out the eye-opening amount of money good tax planning can save you! Someone has to be very knowledgeable, entertaining, and special to make it as a guest on YMYW these days, and today on Your Money, Your Wealth® podcast 489, “the IRA guru” Ed Slott, CPA from IRAHelp.com joins Joe Anderson, CFP® and Big Al Clopine, CPA to discuss all of these topics, along with changes to stretch IRAs and required minimum distributions from the SECURE Act and SECURE 2.0 Act. Free financial resources and transcript: https://bit.ly/ymyw-489 50 people will receive a free copy of Ed Slott’s new book, The Retirement Savings Time Bomb Ticks Louder, just for having a free financial assessment with Pure Financial Advisors. (10 of those 50 will be randomly selected to receive a copy of the book, signed by Ed Slott!) Schedule your assessment ASAP! WATCH the video of this interview! https://youtu.be/bgY2ky8XtS0 YMYW Podcast Survey: Visit the show notes to access the survey and secret password REQUEST: Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Final Regulations for Required Minimum Distributions Timestamps:  00:00 - Introducing Ed Slott, CPA from IRAHelp.com 01:28 - SECURE Act: Clarity on RMD Rules? 04:31 - How Golf and Football Are Like Retirement 06:25 - The Biggest Retirement Planning Mistake 09:37 - The Value of Ed Slott's Books 14:14 - The Problem With Tax Professionals: Short-Term Tax Planning 17:36 - "I Love Roths Because I Love Tax-Free" 20:50 - What's the Break-Even Point on a Roth Conversion? 21:45 - Can We Trust That Roth IRAs Will Always Be Tax-Free? 24:11 - Your Chance at a $100 Amazon e-Gift Card: Complete the YMYW Podcast Survey 25:04 - SECURE 2.0 Act: Stretch IRA Changes 27:03 - Naming a Trust as Beneficiary of Your Retirement Account: Good Idea? 32:13 - Unnecessary and Excessive Taxes: Why Ed Slott Became the IRA Expert 38:22 - How Much Money Can You Save in Taxes With Good Tax Planning? 43:16 - What About People Who Don't Have the Money to Pay the Tax on a Roth Conversion? 43:50 - Ed Slott's PBS Specials on Retirement 46:28 - How to Get a Free Copy of the Latest Ed Slott Book, The Retirement Savings Time-Bomb Ticks Louder

Transcribed - Published: 6 August 2024

Is timing the market when you withdraw money from your retirement accounts or do Roth conversions an effective strategy to minimize tax and maximize returns for YMYW listener Robert? That’s today on Your Money, Your Wealth® podcast 488 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, should Doug change his 60/40 asset allocation, and should he start a solo 401(k)? Jefe plans to withdraw from his retirement accounts beyond the top of the 24% tax bracket for the first few years of retirement. Is there any reason to put it in a brokerage account rather than converting it to Roth? The fellas also spitball on Roth conversion methods and strategies for Srinivas, Todd, and Debbie, and JZ in California, and they spitball on JZ in New York’s “bucketing” strategy for early retirement withdrawals. Free financial resources and transcript: https://bit.ly/ymyw-488 YMYW Podcast Survey: Visit the show notes to access the survey and secret password DOWNLOAD: Money Makeover Guide - limited-time special offer! Download by Friday, August 2, 2024! WATCH: Complete Money Makeover - YMYW TV  REQUEST: Retirement Spitball Analysis SCHEDULE: Free Financial Assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro 01:42 - Is This the Correct Way to Convert to Roth and Avoid IRS Penalty? (Srinivas, Chicago) 06:51 - Deposit Withdrawals Above Our Tax Bracket in Taxable Account or Do Roth Conversions? (Jefe, TX) 10:12 - Should I Change My Asset Allocation? Should I Start a Solo 401(k)? (Doug, Cave Creek, AZ) 16:22 - Should I Convert $1M IRA to Roth Up to 22% Tax Bracket? (Todd, Flagstaff, AZ) 19:39 - Market Timing Retirement Withdrawals and Roth Conversions (Robert, Southern Maine) 25:28 - My Son Says I Should Do Roth Conversions. Is He Right? (Debbie, Rural Wisconsin) 32:39 - Spitball on Our “Bucketing” Strategy for Early Retirement Withdrawals (JZ, upstate NY) 39:50 - Roll IRA to 401(k) for Backdoor Roth With No Additional Tax? (JZ, California) 43:04 - Hawk Tuah Spitball 45:39 - The Derails

Transcribed - Published: 30 July 2024

Should Terry and his siblings take out a whole life insurance policy on their parents before they inherit their folks’ $10 million worth of farm land? Is Terry on track for retirement? That’s today on Your Money, Your Wealth® podcast 487 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, should Fred and Wilma use their 401(k) money for living expenses to bridge the gap until they collect Social Security benefits?  Should Glen claim his Social Security at age 65 and use it to fully fund his wife’s Roth IRA? When should Bill take his Social Security and should he do Roth conversions? Finally, should Maya include home equity in her retirement savings? Should Jack pay off his mortgage or stash his cash in a brokerage account and refinance his house later? Free financial resources and transcript: https://bit.ly/ymyw-487 DOWNLOAD: Social Security Handbook DOWNLOAD: Estate Plan Organizer REQUEST: Retirement Spitball Analysis SCHEDULE: Free Financial Assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps:  00:00 - Intro 00:50 - Should I Claim Social Security at 65 to Fully Fund My Wife’s Roth IRA? (Glen, Pittsburgh, PA) 04:18 - Should We Use 401(k) to Bridge the Gap Until Social Security? (Fred & Wilma Flintstone, CA) 09:06 - When Should We Take Social Security and Thoughts on Roth Conversions? (Bill, Shippensburg, PA) 15:45 - Should Siblings Take Out Insurance on Parents Before Inheriting $10M? Are We on Track for Retirement? (Terry, IA) 34:14 - Pay Off the Mortgage or Stash Cash in Brokerage and Refinance Later? (Jack, WA) 42:54 - Should I Include Home Equity in Retirement Savings? (Maya, Seattle) 46:02 - The Derails

Transcribed - Published: 23 July 2024

How is Kimberly’s strategy for reducing her retirement taxes by doing Roth conversions and qualified charitable distributions? Is Patrick’s tax loss harvesting transaction a wash sale? At what marginal tax rate should Brian stop making Roth 401(k) contributions? Joe Anderson, CFP® and Big Al Clopine, CPA are back this week on Your Money, Your Wealth® podcast 486 to answer these questions and to spitball on the importance of international stock in John in Seattle’s diversified investment portfolio, David and Terri’s Roth conversion and I bond strategy, Blake’s severance package, and the impact of a new home purchase on John in DC's retirement spending. Free financial resources and transcript: https://bit.ly/ymyw-486 DOWNLOAD | Retirement Rescue Guide - limited-time special offer! Download by Friday, July 19, 2024! WATCH | Retirement Rescue Plan - YMYW TV DOWNLOAD | Investing Basics Guide DOWNLOAD | 10 Steps to Improve Investing Success REGISTER | Equity Compensation Basics Webinar - Wednesday, July 24, 12pm Pacific / 3pm Eastern  Request your own Retirement Spitball Analysis YMYW on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter Schedule a free financial assessment Timestamps: 00:00 - Intro 00:57 - Should We Do Roth Conversions to Top of the 24% Bracket to Minimize $240K I-Bond Profits? (David & Terri, Southern California, voice) 07:32 - Roth Conversion & Qualified Charitable Distribution Strategy Spitball (Kimberly, IA) 13:12 - Should I Take the Severance Package Now at 59 and a Half or Work Until Age 63? (Blake) 18:00 - Is My Tax Loss Harvesting Transaction a Wash Sale? (Patrick, Vancouver, WA) 24:42 - How Important is International Stock in a Diversified Portfolio? (John, Seattle, WA) 30:40 - At What Marginal Tax Rate Should Roth 401(k) Contributions Stop? (Brian, NC) 33:58 - What Impact Will Our New Home Have on Our Retirement Spending? (John in the DC) 42:32 - The Derails

Transcribed - Published: 16 July 2024

He's 56, she's 32. How does this 24-year age difference impact retirement plans for "Bonnie and Clyde", and what strategies should they implement now for the most tax-efficient retirement possible in the future? While Joe Anderson, CFP® and Big Al Clopine, CPA are on vacation, Your Money, Your Wealth® podcast producer Andi Last enlists the help of Pure Financial Advisors' Managing Director Jake Greenberg, CFP®, ChFC® for a video case study (complete with visual aids!) on YMYW Extra number 6. Into which types of accounts should Bonnie and Clyde save for retirement? How much of their savings should they convert to Roth and when? Free financial resources and transcript: https://bit.ly/ymywe-6 Download the Key Financial Data Guide Watch the video spitball: https://youtu.be/YwG3pZ3U8IU Request your own Retirement Spitball Analysis YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter Schedule a free financial assessment 01:19 - Bonnie & Clyde's Financial Situation 06:56 - Health Savings Accounts Explained 08:16 - Real Estate Plans 09:42 - Contribute to Brokerage Account or Roth 401(k)? 11:01 - Bonnie & Clyde's Pre-Financial Assessment: A Video Case Study 23:28 - Tax Diversification Visualized 30:02 - Roth Conversions: When and How Much? Current and Future Tax Brackets Visualized 35:53 - Age Difference and Retirement Date Differences 27:15 - Bonnie and Clyde's Cars, Drinks and Pets 39:57 - Final Thoughts  

Transcribed - Published: 9 July 2024

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 Watch Strategies for Diversifying Concentrated Stock Positions Request your own Retirement Spitball Analysis YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter Schedule a free financial assessment 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  

Transcribed - Published: 2 July 2024

How much do retirees really spend in retirement? Does the Social Security Primary Insurance Amount (PIA) continue to rise with inflation? Is all the talk about higher future tax brackets just fear-mongering? Can "Johnny Mercer" afford to leave money for his heirs, and what should his strategy be for converting his retirement savings to Roth IRA for tax-free growth on his money? While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, Your Money, Your Wealth® producer Andi Last enlists the help of senior financial advisor Rachel Fuss, CFP®, MPH from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in Mercer Island, WA, to see if they can "Ac-cent-tchu-ate the Positive" for Johnny in YMYW Extra number 4. Free financial resources and transcript: https://bit.ly/ymywe-4 Watch the video of this spitball! https://youtu.be/wKi-VDALJAo Withdrawal Strategy Guide - free download Request your own Retirement Spitball Analysis YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter Schedule a free financial assessment Timestamps: 00:00 - Intro 01:17 - Johnny Mercer's Cars, Drinks and Pets 02:19 - Will Social Security Primary Insurance Amount Continue to Rise With Inflation? 05:20 - Retirement Spending: What's Reality? 06:40 - Are Future Higher Tax Brackets Just Fear-Mongering? 08:21 - How Much Can We Afford to Spend and Still Leave Money for Heirs? 11:07 - Final Considerations & Roth Conversion Strategy

Transcribed - Published: 25 June 2024

Cinderella and her Prince Charming have a nest egg of $2.3 million and are hoping for retirement income of up to $150K/year. When can they afford to retire? How should they coordinate paying for some big purchases, paying off debt, and collecting Social Security benefits as they plan for retirement? While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, YMYW producer Andi Last enlists the help of senior financial advisor Jack Dugan, CFP®, from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in San Diego, to spitball on whether Cindi and her prince can live "happily ever after" on YMYW Extra number 3. Free financial resources and transcript: https://bit.ly/ymywe-3 Watch the video of this spitball! https://youtu.be/zmmCuxEsHiA  Retirement Income Strategies Guide - free download Request your own Retirement Spitball Analysis YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter Schedule a free financial assessment Timestamps: 00:00 - Intro 02:28 - Cinderella and Prince Charming's Cars, Drinks & Pets 03:38 - How Much Retirement Income Can They Realistically Expect? 14:05 - How to Pay Off Major Purchases? 15:35 - Other Retirement Savings Strategies

Transcribed - Published: 18 June 2024

Market declines just before you retire, or early in your retirement, can really screw up your retirement income strategy. If you’re in the middle of the expensive kid years, how do you avoid this sequence of returns risk when making your retirement plans? That’s “Jaclyn Smith’s” question, today on Your Money, Your Wealth® podcast 485 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, can Vern’s wife collect Social Security at age 63, then switch to spousal benefits at age 70? Matt wants to know if 2026 catch-up Roth contributions will be subject to the pro-rata rule, and Tom and Amy are trying to figure out how to avoid Medicare’s monthly income-related adjustment amount, or IRMAA, in their plan for Roth conversions. Free financial resources and transcript: https://bit.ly/ymyw-485 How to Build a Recession-Proof Portfolio - YMYW TV Recession Protection Guide - free download The Election is Coming: Should You Sell? - read the blog Investment Vehicle Selection: SMA vs. ETF vs. Mutual Fund – Which One Best Fits You? - read the blog Is Roth IRA Money Taxed Twice? Watch the latest YMYW Extra Schedule a free financial assessment Ask Joe & Big Al for your Retirement Spitball Analysis Timestamps: 00:00 - Intro 00:49 - How to Minimize Sequence of Returns Risk When Spitballing Retirement in the Expensive Kid Years? (Jaclyn Smith) 17:18 - Collect Social Security Early at Age 63, Then Switch to Spousal Benefits at Age 70? (Vern, Beautiful Portland Oregon) 23:30 - Will 2026 Catch-Up Contributions to Roth Be Subject to Pro-Rata Rule? (Matt, TX) 23:47 - Should We Do Roth Conversions? What About Medicare IRMAA? (Tom & Amy, Northern MN) 31:51 - The Derails

Transcribed - Published: 11 June 2024

Should Mike in Virginia keep using his IRA money to pay the tax on his Roth conversions? How do you do a Roth conversion when you don’t have the money to pay the tax? That’s PeterLemonJello’s question, but is it the question he should be asking? Spitballing Roth IRA conversion strategies to reduce your taxable required minimum distributions (RMD) in retirement - that’s today on Your Money, Your Wealth® podcast 484 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Susan and Mike in Ohio are retired, in the 24% tax bracket, and considering converting $50k or $75k to Roth - should they do it? How is D-Rock and Matilda’s strategy for selling rental properties and doing Roth conversions as they bridge the gap to early retirement? And finally, how do required minimum distributions work on inherited Roth accounts? Free financial resources and transcript: https://bit.ly/ymyw-484 Navigating Your Financial Future Single - YMYW TV Going Solo Guide - free download Asset Location & Roth Conversion Retirement Spitball - YMYW Extra Ep. 1 Ask for your own Retirement Spitball Analysis Schedule a Free Financial Assessment Timestamps: 00:00 - Intro 00:54 - How to Pay the Tax on a Roth Conversion: Are You Asking the Right Question? (Peter LemonJello, FL) 05:45 - Should I Keep Doing Roth Conversions and Paying Tax from the IRA? (Mike, VA) 14:24 - Retired, in the 24% Tax Bracket. Should We Convert $50-$75K to Roth in 2024? (Susan, OH) 18:28 - Roth Conversions and Selling Rental Property to Bridge to Early Retirement (D-Rock & Matilda, New York) 28:11 - Required Minimum Distributions for Inherited Roth IRAs Explained (Elisa, Fremont) 34:12 - The Derails

Transcribed - Published: 4 June 2024