Your Money, Your Wealth

Schedule a free financial assessment with an experienced professional at Pure Financial Advsiors: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=free-assessment&utm_content=ymyw-pod-ep586-description-free-assessment“Walter and Skyler” in Iowa ask if they’re on track to retire early, or if they’re just "cooking up overconfidence?" And how aggressively should they convert their retirement savings to tax-free Roth money before the pension and Social Security kick in? California Dreamin’ has it down to one decision: convert to the top of the 22 percent tax bracket, or push into the 24? “Mike and Carol” in Florida ask, when you're weighing a conversion, should you be looking at your tax bracket, or your actual effective tax rate? Finally, is it worth the cost for “Westley and Buttercup” to use the brand new option to turn a big employer contribution into Roth money? Joe Anderson, CFP® and Big Al Clopine, CPA from Pure Financial Advisors spitball on all of these questions, today on YMYW podcast 586.Free Financial Resources in This Episode: https://bit.ly/ymyw-586 (full show notes & episode transcript)10 Common Roth IRA Mistakes That Can Cost You $50,000 (or More!) - YMYW TV:https://purefinancial.com/white-papers/roth-ira-white-paper/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-ultimate-guide-to-roth-iras&utm_content=ymyw-pod-ep586-description-whitepaperThe Ultimate Guide to Roth IRAs - free download:https://purefinancial.com/ymyw/episodes/10-common-roth-ira-mistakes-that-can-cost-you-50000-or-more/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep586-description-tv-s12e04Financial Blueprint (free, self-guided):https://bit.ly/YMYWblueprintCREQUEST your Retirement Spitball Analysis:https://bit.ly/YMYWaskCDOWNLOAD more free guides:https://bit.ly/YMYWguidesCREAD financial blogs:https://bit.ly/YMYWblogCWATCH educational videos:https://bit.ly/YMYWvidsCSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWnewsletterCConnect With Us:Subscribe on YouTube and join the conversation in the comments:https://bit.ly/YMYW-YTSubscribe or follow YMYW in your favorite podcast app:https://lnk.to/ymywLeave your honest reviews and ratings in Apple Podcasts:https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254Chapters: 00:00 - Intro: This Week on the YMYW Podcast01:10 - Early Retirement Overconfidence? Aggressive Roth Conversions? (Walter & Skyler, Iowa)13:25 - Roth Conversion Bracket Call: 22% or 24%? (CA Dreamin', Central Coast)22:27 - Tax Bracket vs. Effective Rate: The Roth Math Most People Get Wrong (Mike & Carol, FL)32:16 - Should the NEC Go to the Roth? The 401(k) Decision (Westley & Buttercup, TX)42:28 - Outro: Next Week on the YMYW Podcast

Schedule a Free Financial Assessment with an experienced professional:https://bit.ly/YMYWassessCHeidi from the Space Coast of Florida found a money-saving tidbit in a past episode that completely changed how she thinks about her financial advisor's fee. Joe Anderson, CFP® and Big Al Clopine, CPA expand on the strategy, today on Your Money, Your Wealth® podcast number 584. Laverne and Shirley have four million bucks, Roth conversion questions, annuity questions, and a retirement plan so detailed it may require a diagram. Finally, Bess and George from Pure Michigan are already retired, already on Social Security, and already losing sleep over their investments. So why are they so stressed? Joe and Big Al’s a debate about a 1% advisory fee gets a little spicy in that one.Retirement Accounts Guide - free download:https://purefinancial.com/white-papers/retirement-accounts-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-retirement-accounts-guide&utm_content=ymyw-pod-ep584-description-whitepaperFinancial Blueprint - free, self-guided retirement plan check-in:https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep584-description-blueprintRetirement Course: Can You Hit a Hole in One? With PGA Pro Chris Riley - YMYW TV:https://purefinancial.com/ymyw/episodes/retirement-course-hole-in-one-pga-pro-chris-riley/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep584-description-tv-s11e02REQUEST your Retirement Spitball Analysis:https://bit.ly/YMYWaskCDOWNLOAD more free guides:https://bit.ly/YMYWguidesCREAD financial blogs:https://bit.ly/YMYWblogCWATCH educational videos:https://bit.ly/YMYWvidsCSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWnewsletterCConnect With Us:Subscribe on YouTube and join the conversation in the comments:https://bit.ly/YMYW-YTSubscribe or follow YMYW in your favorite podcast app:https://lnk.to/ymywLeave your honest reviews and ratings in Apple Podcasts:https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254Chapters: 00:00 - Intro: This Week on the YMYW Podcast01:02 - Can Financial Advisor AUM Fees Come Out of Pre-Tax Money? (Heidi, Space Coast, FL)09:54 - Are We Converting Enough Before RMDs? What to Do With Annuities? (Laverne & Shirley, Cleveland, OH)30:23 - Target Date Funds and a Sad Brokerage: Good Enough? Can't See Ever Paying an Advisor (Bess & George, MI)45:37 - Outro: Next Week on the YMYW Podcast

Schedule a Free Financial Assessment with an experienced professional:https://bit.ly/YMYWassessCToday on Your Money, Your Wealth® podcast number 582, Joe Anderson, CFP® and Big Al Clopine, CPA address something a not-insignificant portion of this audience has been complaining about for years: their so-called 'absurdly conservative' safe withdrawal rates for early retirement. Rand and Elayne from Ohio are here to gripe about it directly with a thought experiment: a million bucks at age 36 and a three-year sabbatical in France. When, if ever, would Joe and Big Al say they should cut it short and go back to work if the markets turned ugly? Mike2me17 piles on, with his own SWR take about AUM fees in his Apple Podcasts review. But first, a real world example: Ron and Harry from Florida are elite performers with a high-risk specialty job. Can they safely pull off moving to Portugal and living on $38,000 a year in their early 40s? If you’re one of the people yelling at your podcast app every time Joe or Al mentions a 2% withdrawal rate, today's your day, and we welcome you to leave more of your thoughts on the topic in Apple Podcasts, YouTube, on Reddit, in our inboxes - like everyone else has.Free Financial Resources in This Episode: https://bit.ly/ymyw-582 (full show notes & episode transcript)Withdrawal Strategy Guide - YMYW TV:https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep582-description-whitepaperFinancial Blueprint (free, self-guided):https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep582-description-blueprintRetirement Pop Quiz: 18 Questions to Get You Ready to Retire - YMYW TVhttps://purefinancial.com/ymyw/episodes/retirement-pop-quiz-18-questions-ready-to-retire/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep582-description-tv-s10e10REQUEST your Retirement Spitball Analysis:https://bit.ly/YMYWaskCDOWNLOAD more free guides:https://bit.ly/YMYWguidesCREAD financial blogs:https://bit.ly/YMYWblogCWATCH educational videos:https://bit.ly/YMYWvidsCSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWnewsletterCConnect With Us:Subscribe on YouTube and join the conversation in the comments:https://bit.ly/YMYW-YTSubscribe or follow YMYW in your favorite podcast app:https://lnk.to/ymywLeave your honest reviews and ratings in Apple Podcasts:https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254Chapters: 00:00 - Intro: This Week on the YMYW Podcast01:14 - Elite Performers Semi-Retiring at 43 and Moving to Portugal. Can We Pull It Off? (Ron & Harry, FL)16:16 - YMYW Safe Withdrawal Rate Assumptions Are Absurd. At What Point Do You Go Back to Work If Markets Crash? (Rand & Elayne, ID)34:13 - YMW Safe Withdrawal Rates to Protect AUM Fee (Comment from mike2me17, Apple Podcasts)41:46 - Outro: Next Week on the YMYW Podcast

Schedule a Free Financial Assessment with an experienced professional:https://bit.ly/YMYWassessCToday on Your Money, Your Wealth® podcast number 580, Joe Anderson, CFP®, and Big Al Clopine, CPA, are spitballing for some folks who've done the work, hit the numbers, but aren’t sure if they can really walk away yet. Martha in DC is 44 and says her soul is being sucked out of her body by her employer. When can she stop working full-time and foster puppies instead? “Bandit” is bullish on his company stock in archeology instruments, but not so much on his work itself. “Kevin” is staring down a wall of deferred comp and needs a spitball on how aggressive his and “Winnie’s” Roth conversion strategy should be before RMDs hit. Can both “Bandit and Chilli” and “Kevin and Winnie” call it quits this year?Free Financial Resources in This Episode: https://bit.ly/ymyw-580 (full show notes & episode transcript)Tax-Free Retirement Guide - free download:https://purefinancial.com/white-papers/tax-free-retirement-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-tax-free-retirement-guide&utm_content=ymyw-pod-ep580-description-whitepaperRetirement Readiness Guide - free download:https://purefinancial.com/white-papers/retirement-readiness-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-retirement-readiness-guide&utm_content=ymyw-pod-ep580-description-whitepaper401(k) After Retirement? Here Are Your 4 Options (And The Costly Mistakes) - YMYW TV:https://purefinancial.com/ymyw/episodes/what-happens-to-your-401k-ira-at-retirement/?utm_source=libsyn&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep580-description-tv-s10e06Financial Blueprint (free, self-guided):https://bit.ly/YMYWblueprintCREQUEST your Retirement Spitball Analysis:https://bit.ly/YMYWaskCDOWNLOAD more free guides:https://bit.ly/YMYWguidesCREAD financial blogs:https://bit.ly/YMYWblogCWATCH educational videos:https://bit.ly/YMYWvidsCSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWnewsletterCConnect With Us:Subscribe on YouTube and join the conversation in the comments:https://bit.ly/YMYW-YTSubscribe or follow YMYW in your favorite podcast app:https://lnk.to/ymywLeave your honest reviews and ratings in Apple Podcasts:https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254Chapters: 00:00 - Intro: This Week on the YMYW Podcast00:56 - Can We Exit the Rat Race in Our 40s With $6.5M? (Martha & George, DC)16:07 - Can I Retire at 51 Without Using Rule of 55? (Bandit & Chilli, CA)36:29 - Can I Retire Before My $3M Deferred Comp Pays Out? (Kevin & Winnie, Chicago)44:28 - Outro: Next Week on the YMYW Podcast

Joe Anderson, CFP® and Big Al Clopine, CPA spitball on whether a popular early retirement strategy could actually blow up your financial plan, today on Your Money, Your Wealth® podcast number 577. Red and Kitty from Wisconsin are burned out at 40 and wonder if retiring at 45 using the 72(t) tax election to take substantially equal periodic payments, or SEPP, is a smart bridge strategy. Jiminy Billy Bob in North Carolina is also considering a 72(t). How should he structure his withdrawal order, and does he need to shift into bonds before downshifting his career? Plus, Steve and Sharon in Minnesota have 8 million bucks. Steve is getting laid off at age 56. What should they do with their 401(k), stock options, incentives, and benefits before and after the layoff?Free Financial Resources in This Episode:https://bit.ly/ymyw-577 (full show notes & episode transcript)Recession Protection Guide - free downloadRetirement Readiness Guide - free download6 Ways Americans Accidentally Sabotage Their Retirement - YMYW TVFinancial Blueprint (self-guided):https://bit.ly/PureFinancialBlueprintFinancial Assessment (Meet with an experienced professional):https://bit.ly/PureFreeAssessmentREQUEST your Retirement Spitball Analysis:https://bit.ly/AskJoeAndAlDOWNLOAD more free guides:https://bit.ly/PureGuidesREAD financial blogs:https://bit.ly/PureFinBlogWATCH educational videos:https://bit.ly/PureEdVideosSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWNewsletterConnect With Us:Subscribe on YouTube and join the conversation in the comments:https://bit.ly/YMYW-YTSubscribe or follow YMYW in your favorite podcast app:https://lnk.to/ymywLeave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254Chapters:00:00 - Intro: This week on the YMYW Podcast01:06 - Why Retiring at 45 Using 72(t) SEPP Withdrawals is Risky (Red & Kitty, WI)13:28 - Early Retirement Strategy: Withdrawal Order, Bonds, and 72(t) (Jiminy Billy Bob, NC)22:49 - Laid Off at 56 With $7.9M: How to Handle Your Exit Strategy (Steve & Sharon, St. Paul, MN)43:51 - Outro: Next Week on the YMYW Podcast

When you're standing at a major financial crossroads, the timing of your decisions can mean the difference between success and failure. Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "when" of five retirement decisions, today on Your Money, Your Wealth podcast number 569. We'll kick things off with a whale of an email: "Fine and Dandy" is 42 years old with a multimillion dollar private equity offer on the table. Should he sell his business now or hold out for a second bite of the apple later? He also wonders if it's crazy to spend more on his vacation home than on his primary residence. David calls himself an "elderly orphan," flying solo at 66 and in need of a plan to protect his million-dollar portfolio as he ages. BB and Shell are trying to time their final year of retirement contributions to save as much as possible before moving to a lower-tax state. Should they go Roth IRA or traditional? Joel wonders when to take required minimum distributions from retirement accounts for the maximum tax benefit, and Brian in New York needs a spitball on when it makes sense to have an emergency fund as a retiree, and for how much. Free Financial Resources in This Episode: https://bit.ly/ymyw-569 (full show notes & episode transcript) Growing Your Wealth Guide - free download Retirement Readiness Guide - free download Retire at 62: Great Idea or Huge Mistake? - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:09 - Should I Sell My Business or Wait? Is It Crazy to Spend More on My Vacation Home Than My Primary Residence? (Fine and Dandy, IL) 20:48 - Saving to Roth IRA vs Traditional IRA in the Final Year Before Retirement (BB and Shell) 23:50 - When to Take Your First RMD for the Maximum Tax Benefit (Joel, CA) 27:33 - Aging Alone in Retirement: How to Protect Assets Before Cognitive Decline (David, 68, Logan, NM) 35:37 - Why Some CPAs Cap Roth Conversions at $500K AGI (Shweta, CA) 37:05 - When Does It Make Sense for Retirees to Have an Emergency Fund - and How Much? (Brian, Albany, NY) 42:03 - Outro - Next Week on the YMYW Podcast

Should Al and Peggy in Illinois keep hammering pre-tax retirement savings or should they pivot to post-tax Roth for better tax diversification? Which pension option is best for their early retirement plans? Long-term care insurance premiums are going up endlessly for Eloise in Connecticut. Is she walking into an insurance industry trap? How do Eric and Tami in Baton Rouge help their kids with college without blowing up their own retirement, and when do student loans make sense? Finally, should Lana and Sterling harvest capital gains or prioritize Roth conversions before moving to a much higher-tax state? The basic question in all of these is the same: how do you protect your future from rising costs and unknowns that are out of your control? We'll find out what it takes, today on Your Money, Your Wealth podcast number 567. Free Financial Resources in This Episode: https://bit.ly/ymyw-567 (full show notes & episode transcript) Key Financial Data Guide - free download Retirement Panic Button: 7 Ways to Avoid Hitting It - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:55 - Pre-Tax vs. Late Roth Savings? Pension Lump Sum vs. Lifetime Income in Early Retirement? (Al & Peggy, Illinois) 14:14 - Should I Drop Long-Term Care Insurance Now at Age 70? (Eloise, Connecticut) 20:41 - College Costs vs Retirement Security for Parents (Tami & Eric, Baton Rouge, LA) 35:59 - Roth Conversions or Capital Gains Before Moving to a High Tax State? (Lana & Sterling, Nebraska) 48:14 - Next Week on the YMYW Podcast

Lucky Lou is 48, burned out and wants to punch at 50. How should he bridge the gap before pensions and Social Security? Joe Anderson, CFP®, and Big Al Clopine, CPA walk through the Rule of 55, 72(t)s, and the psychological reality of spending down a taxable account, today on Your Money, Your Wealth® podcast number 565. Alexei and Anna are high earners in their mid-20s who want to save aggressively and keep taxes low. Which retirement accounts should they prioritize, and can they afford a downpayment on a house? Jay and Gloria are wrestling with the classic question of whether to save to Roth or traditional 401(k), especially since their state doesn't tax retirement income. Is taking the deduction now and backdooring Roths the smarter move? Plus, Sleepless in Seattle wants to know, can her 28-year-old daughter afford to buy a condo in a high-cost housing market? Finally, Jennifer in Texas wonders how to invest and withdraw an inherited IRA over the 10-year rule with the least tax damage. Free Financial Resources in This Episode: https://bit.ly/ymyw-565 (full show notes & episode transcript) The Last 5 Years Before Retirement Will Decide Your Lifestyle - Here's How - YMYW TV Guides: Growing Your Wealth Tax-Free Retirement One Big Beautiful Bill Act Blogs: A Market of Stocks Why AI May Not Be a Bubble Should You Own Gold Instead of Stocks? Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:04 - Can I Retire at 50 with $5M and Bridge the Gap to Pensions and Social Security? (Lucky Lou) 10:51 - Which Retirement Accounts Should Young High Earners Max First? Can We Afford a House Downpayment? (Alexei & Anna, Cincinnati) 17:57 - Save to Roth 401(k) or Traditional If Our State Doesn't Tax Retirement Income? (Jay & Gloria, People's Republic of IL) 28:21 - Should a 28-Year-Old Buy a Home in an Expensive Market? (Sleepless in Seattle) 37:15 - How to Invest for Most Growth and Least Tax on an Inherited IRA? (Jennifer, TX) 41:04 - Outro: Next Week on the YMYW Podcast