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
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
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
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
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
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
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
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
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
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
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
Your feedback is valuable to us. Should you encounter any bugs, glitches, lack of functionality or other problems, please email us on [email protected] or join Moon.FM Telegram Group where you can talk directly to the dev team who are happy to answer any queries.