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Your Money, Your Wealth

Your Money, Your Wealth

Making fun of finance. A US News & World Report "Top 9 Personal Finance Podcast" (2025) and "Top 12 Retirement Podcast" (2023). One of the "10 Best Personal Finance YouTube Channels" (CardRates, 2023). "Best Retirement Podcast With Humor" (FIPhysician, 2020-2024). Learn strategies that can help you retire successfully. Financial advisor Joe Anderson, CFP® and certified public accountant Big Al Clopine, CPA answer your money questions and spitball on your 401k, IRA, Roth conversions and backdoor Roth IRA, how to pay less taxes, asset allocation, stocks and bonds, real estate, and other investments, Social Security benefits, capital gains tax, 1031 exchange, early retirement, expenses and withdrawals, and more money and wealth management strategies. YMYW is retirement planning, investing, and tax reduction made fun, presented by Pure Financial Advisors - a fee-only financial planning firm. Pure Financial adheres to the fiduciary standard of care, in which we are required by law to act in the best interest of our clients at all times. Access free financial resources and episode transcripts, Ask Joe & Big Al On Air to get your Retirement Plan Spitball Analysis: http://YourMoneyYourWealth.com

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  • 26 episodes
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  • English

Episodes 26

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  • #599
    Tuesday · 36 min

    Retirement vs. House Down Payment: Are You Getting the Timing Wrong? - 599

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC How do you buy a house as a young person, without wrecking your long-term retirement plan? That’s today on Your Money, Your Wealth® podcast 599, as Joe Anderson, CFP® and Big Al Clopine, CPA spitball for 35-year-old Gord in New York City. He's got $300,000 saved, and a home purchase is coming soon thanks to a new relationship. Should he liquidate his brokerage account and pull the trigger? Carrie Bradshaw in California is 33 and wants to buy a roughly $1.5M home. When should she move the down payment money out of the market, and can she avoid derailing early retirement? Finally, Archie and Veronica in Missouri are 41 and 34, pulling in $600,000 a year and saving close to $200,000 of it. Are they saving too much? Should they pay off their mortgage or keep investing? Free Financial Resources in This Episode: https://bit.ly/ymyw-599 (full show notes & episode transcript) Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC 10 Big Retirement Regrets to Avoid (Before It's Too Late) - YMYW TV: https://purefinancial.com/ymyw/episodes/10-big-retirement-regrets-to-avoid-before-its-too-late/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep599-description-tv-s10e15 REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:02 - I’m 35 in NYC. Do I Cash Out My ETFs to Buy a House? (Gord, NYC) 15:21 - How Much of My $900K Goes to the Down Payment? ("Carrie Bradshaw", CA) 24:12 - We Make $600K With a $1.1M Mortgage. Pay It Off or Keep Investing? ("Archie & Veronica", MO) 35:55 - Outro: Next Week on the YMYW Podcast

  • #598
    September 8 · 39 min

    Can You Retire with $1M at 42? The Early Retirement Lie - 598

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast 598, Joe Anderson, CFP® and Big Al Clopine, CPA spitball early retirement planning for Shua in Phoenix, who has a million dollars saved at age 42. Can he stop saving right now, coast until age 55, and still spend $170,000 a year in retirement? But first, Michael in Texas is a stay-at-home dad who does the stock market. His wife wants out of her job at age 47. Will their $5 million last through retirement? And then Homer and Marge in North Carolina make 640K in sales and want to spend up to 25K a month, and Seth in Illinois wants to retire at 58 on a pension and a Roth. Some of these plans work and some of ‘em aren't even close. Free Financial Resources in This Episode: https://bit.ly/ymyw-598 (full show notes & episode transcript) Withdrawal Strategy Guide - free download: https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep598-description-whitepaper Retirement 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-ep598-description-whitepaper 10 Assumptions Pre-Retirees Get Wrong About Retirement - YMYW TV: https://purefinancial.com/ymyw/episodes/10-assumptions-pre-retirees-get-wrong-about-retirement/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep598-description-tv-s12e07 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:52 - Wife Wants to Retire at 47. What Are We Missing? (Michael, TX) 14:03 - $3M Saved, $640K Income: Can We Retire at 50? (Homer & Marge, Northern California) 21:19 - Pension + $1.45M: Can I Retire at 58 and Spend $11K a Month? (Seth, North Central IL) 26:51 - Can We Stop Saving Now at 42 and 45 and Still Retire at 55? (Shua, Phoenix, AZ) 36:07 - Outro: Next Week on the YMYW Podcast 37:19 - The Derails: Big Al Canoeing on the Russian River

  • #597
    September 1 · 40 min

    We Have $12 Million. Should We Do Roth Conversions? - 597

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Joe Anderson, CFP® and Big Al Clopine, CPA are spitballing Roth conversions from every angle today on Your Money, Your Wealth® podcast number 597. John in Oklahoma is 75, sitting on a million dollars in traditional IRAs, and he's got a whole list of reasons NOT to convert to Roth. Is he right? Is it worth it as part of his retirement strategy? Jonathan and Jennifer in Phoenix have over six million dollars in tax-deferred accounts. How much should they convert, and where should they stop? J and C in Hawaii are both 38 and want to walk away from work at 55. How do they bridge the gap? And finally, are Bonnie and Clyde working for nothing if it all just turns into a giant tax bill? Free Financial Resources in This Episode: https://bit.ly/ymyw-597 (full show notes & episode transcript) 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-ep597-description-whitepaper Ultimate Investing Guide - free download: https://purefinancial.com/white-papers/the-ultimate-investing-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-ultimate-investing-guide&utm_content=ymyw-pod-ep597-description-whitepaper Once Retirees See This Data, They Stop Worrying About Investing - YMYW TV: https://purefinancial.com/ymyw/episodes/once-retirees-see-this-data-they-stop-worrying-about-investing/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep579-description-tv-s12e03 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:55 - Roth at 75: Does the Math Actually Work? (John, OK) 10:03 - 12M and Still Worried About Taxes: Roth Conversion Spitball (Jonathan & Jennifer, Phoenix AZ) 16:47 - Retiring at 55 in Hawaii: When Do We Start the Taxable Account? (J & C, Hawaii) 27:26 - Am I Just Working to Create a Bigger Tax Problem? (Bonnie & Clyde) 34:20 - Outro: Next Week on the YMYW Podcast 36:53 - The Derails: Hart to Hart, Minutiae, and Levels of Fame

  • #596
    August 25 · 43 min

    4 Retirement Questions That Expose Real Money Risks - 596

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Each of the questions Joe Anderson, CFP® and Big Al Clopine, CPA are spitballing today on Your Money, Your Wealth® podcast 596 has a real retirement risk attached to it. Philip and Elizabeth in DC have $7M. Philip's dying to quit a job he hates, but he's loading up on bonds to protect the nest egg. At 56, could playing it too safe be his real risk? Mr. Mojo Risin wants to retire in three years, but $1.7M of his nest egg is riding on one stock, and he needs a good CPA to help defuse it. BB and Shell got pitched a slick new AI crypto investment promising 15% a month. Too good to be true? And Huggy Bear in New Hampshire has $450K in cash value life insurance. Should he grab it now, or wait 20 years until he’s 80? 9th Annual YMYW Podcast Survey (password ymyw): https://www.surveymonkey.com/r/ymywpodcast2026/ The Ultimate Investing Guide - free download: https://purefinancial.com/white-papers/the-ultimate-investing-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-ultimate-investing-guide&utm_content=ymyw-pod-ep596-description-whitepaper Retirement 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-ep596-description-whitepaper Retire at 62: Great Idea or Huge Mistake? - YMYW TV: https://purefinancial.com/ymyw/episodes/retire-at-62-great-idea-or-huge-mistake/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep596-description-tv-s11e14 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:03 - We Have $7M and I Hate My Job. Why Am I Still Here? (Philip & Elizabeth, Washington DC) 10:20 - Retiring in 3 Years, $1.7M in One Stock. Where's the CPA for This? (Mr. Mojo Risin, GA) 19:33 - Is This AI Crypto Investment With 15% Monthly Return Too Good to Be True? (BB & Shell) 28:48 - Cash Out $450K in Life Insurance or Wait Until 80? (Huggy Bear, New Hampshire) 39:28 - Outro: Next Week on the YMYW Podcast 40:58 - The Derails: The Americans, Mr. Mojo Risin

  • #595
    August 18 · 46 min

    When to Claim Social Security and Why Full Roth Conversion Might be a Mistake - 595

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast number 595, Joe Anderson, CFP® and Big Al Clopine, CPA spitball for Eeyore and Nurse Kathi: retired in Orlando, both 65, and they swear they've never heard this one on the show before: is a full Roth conversion strategy the way to go, or is there a point where you should stop? Harry and Sally in New York potentially moving to Florida, have been living off their brokerage for retirement account withdrawal for two years, and Sally is getting nervous. Is this a tax efficient retirement plan? When should they claim Social Security? And “When Can I Retire From 12 Hour Days” in Virginia is 62, single, and faced with the same decision: collect Social Security benefits at full retirement age, or hold out for the bigger check at 70? Free Financial Resources in This Episode: https://bit.ly/ymyw-595 (full show notes & episode transcript) 9th Annual YMYW Podcast Survey (password ymyw): https://www.surveymonkey.com/r/ymywpodcast2026/ Social Security Handbook - free download: https://purefinancial.com/white-papers/social-security-handbook/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-social-security-handbook&utm_content=ymyw-pod-ep595-description-whitepaper Claim Social Security at 62 or Wait Until 70? Here's What Actually Matters - YMYW TV: https://purefinancial.com/ymyw/episodes/claim-social-security-62-wait-until-70-heres-what-actually-matters/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep595-description-tv-s12e06 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:54 - Should We Convert All of Our Retirement to Roth? What About Selling Our Rental Property and Capital Gains? (Eeyore and Nurse Kathi, Orlando, FL) 14:56 - We've Lived Off Our Brokerage for 2 Years. Are We Crazy? When Should We Claim Social Security Benefits? (Harry & Sally, NY) 31:02 - Single, 62, $820K: Does My 2029 Retirement Plan Hold Up? When Should I Collect Social Security? (“When Can I Say Goodbye to 12 Hour Days?”, Virginia) 37:27 - Outro: Next Week on the YMYW Podcast 39:15 - The Derails: Winnie the Pooh and Eeyore, Smirnoff Ice, Childhood Stuffed Animals

  • #594
    August 11 · 45 min

    He Has $10M and Can't Spend It. Here's Why. - 594

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast number 594, Joe Anderson, CFP® and Big Al Clopine, CPA spitball retirement planning for high net worth couples: Gary in Pennsylvania is 54 with $10 million, and get this, he still can't decide whether he can walk away or if he needs to grind out a few more years. What is up with that? But before we get to Gary, Frida and Diego are 54 and 52 in California with $5.3 million, itching to start their go-go years. Can they both retire right now? And is $200,000 a year of spending pushing it? Stanley and Stella in New York have a pension decision to make. Choosing the wrong option could leave one of them exposed for life. Free Financial Resources in This Episode: https://bit.ly/ymyw-594 (full show notes & episode transcript) 9th Annual YMYW Podcast Survey (password ymyw): https://www.surveymonkey.com/r/ymywpodcast2026 Withdrawal Strategy Guide - free download: https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep594-description-whitepaper Retirement Spending: How Much is Too Much? - YMYW TV: https://purefinancial.com/ymyw/episodes/retirement-spending-how-much-is-too-much/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep594-description-tv-s12e02 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:56 - 54 and 52 with $5.3M. Can We Both Retire Now? (Frida & Diego, CA) 18:13 - Which Pension Option Protects Us Both? (Stanley & Stella, NY) 30:23 - Should We Retire at 54 with $10 Million? (Gary, PA) 40:51 - Outro: Next Week on the YMYW Podcast 42:14 - The Derails: Frida & Diego, Tesla, Kir Royale, Streetcar and Brando, Joe's pool remodel

  • #593
    August 4 · 45 min

    Roth vs. Traditional 401(k) at $275K Income: What's the Right Move? - 593

    Paul and Angela in Florida are 52 and 45. What's the earliest the two of them can walk away from work at the same time, so Paul can spend a whole lot more time in the boat? That’s today on Your Money, Your Wealth podcast number 593. Then the fellas spitball for Mike in Riverside. His mom inherited his dad's IRA at age 84. Can she still roll it into her own? Edward in Illinois is watching his bond funds lose value even while they pay him interest, and he's wondering if treasuries are the fix. "Blanche Devereaux" in California is 55 with $1.1M in pre-tax. Should she go all Roth for her last five working years? And "Mr and Mrs Smith" on the Carolina coast want to know if they can afford to retire at age 59. Free Financial Resources in This Episode: https://bit.ly/ymyw-593 (full show notes & episode transcript) LIMITED TIME SPECIAL OFFER: The DIY Retirement Guide! Download yours before the Special Offer changes on Friday, August 7, 2026! https://purefinancial.com/ymyw/#specialoffer 9th Annual YMYW Podcast Survey (password ymyw): https://www.surveymonkey.com/r/ymywpodcast2026 Your Favorite Money Influencer Might Be Wrong - YMYW TV: https://purefinancial.com/ymyw/episodes/financial-advisors-expose-internets-worst-retirement-strategies/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep593-description-tv-s11e11 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:58 - Nearly $3M at 52 and 45. When Can We Retire Together? (Paul & Angela, FL) 12:56 - Mom Inherited Dad's IRA at 84. Can She Still Roll It Into Her Own? (Mike, Riverside, CA) 18:13 - Bond Funds Keep Losing Value Despite Paying Interest. Treasuries Instead? (Edward, IL) 25:06 - $1.1M Pre-Tax: Roth for the Last 5 Years? (Blanche Devereaux, CA) 35:10 - How Much Will We Have by 2030? Is It Enough to Retire at 59? (Mr. & Mrs. Smith, Coastal NC) 39:26 - Comment: No NUA Step-Up at Death (Jeff) 42:20 - MYGA vs. Immediate Annuity. Is MYGA a CD in Disguise? (Holly, San Francisco) 44:18 - Outro: Next Week on the YMYW Podcast

  • #592
    July 28 · 45 min

    We Reverse-Engineered Their $6.5M Retirement. Here's What We Found - 592

    Schedule a Free Financial Assessment with an experienced professional: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=free-assessment&utm_content=ymyw-pod-ep592-description-free-assessment Michael, K & J, and Tracy all need retirement spitballs and Roth conversion plans, but they didn't share one of the most important numbers in retirement planning: how much they actually want to spend. Today on Your Money, Your Wealth® podcast number 592, Joe Anderson, CFP® and Big Al Clopine, CPA reverse-engineer their spitballs to back into what might be the same numbers missing from your own plan. Plus, Sean wants to retire in two years at age 56 with $4.4M without handing half of it to the tax man, and Dallas and Leeloo are wondering if there's such a thing as too much Roth - they’re 48 and on track for $1M in theirs. Plus we’ll talk about some charitable giving strategies: what's the difference between a DAF and a CRUT? Free Financial Resources in This Episode: https://bit.ly/ymyw-592 (full show notes & episode transcript) 9th Annual YMYW Podcast Survey (password ymyw): https://www.surveymonkey.com/r/ymywpodcast2026 Is There a Formula for Retirement? - YMYW TV: https://purefinancial.com/ymyw/episodes/is-there-a-formula-for-retirement/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep592-description-tv-s10e09 Financial Blueprint (free, self-guided): https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep592-description-blueprint REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - The 9th Annual YMYW Podcast Survey is now open! 00:44 - Intro: This Week on the YMYW Podcast 01:39 - Working Until 70 With $6.5M Saved. Do I Need Roth Conversions? (Michael, Pittsburgh, PA) 09:25 - How Aggressively Should We Drain Our $2.6M IRA Before RMDs Hit? (K & J, the Cascades) 16:46 - Can I Retire Single at 63 With $1.5M? (Tracy, 63, CA) 20:15 - I'm 54, Single, With $4.4M. How Do I Retire at 56 Without Getting Crushed on Taxes? (Sean, Orlando, FL) 29:22 - How Much Roth is Too Much? We're 48, Heading for $1M in Roth. Did We Overshoot the Goal? (Dallas & Leeloo, 48, Brooklyn, NY) 36:15 - You Said CRTs Must Leave 10% to Charity. Let Me Correct the Record. (DG) 38:21 - DAF vs. CRUT: Which Charitable Tool is Better for $1M Company Stock That's Up 237%? (Fish Sean, 54, Winter Springs, FL) 44:22 - Outro: Next Week on the YMYW Podcast

  • #591
    July 21 · 34 min

    Roth Conversions and RMDs: Are You Ready to Retire? - 591

    Schedule a Free Financial Assessment with an experienced professional: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=free-assessment&utm_content=ymyw-pod-ep591-description-free-assessment B and S in Maryland are in their mid-40s with $425,000 and a couple of rental properties. Can they retire early at 62? Vee in Oregon came to the US as a refugee with nothing and built a three and three-quarter million dollar portfolio from the ground up. Is his Roth conversion plan solid? And finally, Chandler and Monica in Texas are sitting on $1.4 million and hope they can walk away from work in 3 years. Will Roth conversions keep the tax man from taking a giant bite on their way out? That’s all today on Your Money, Your Wealth® podcast 591 with Joe Anderson, CFP® and Big Al Clopine, CPA. Free Financial Resources in This Episode: https://bit.ly/ymyw-591 (full show notes & episode transcript) Withdrawal Strategy Guide - free download https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep591-description-whitepaper The Number One Spending Mistake Ruining Retirements - YMYW TV https://purefinancial.com/ymyw/episodes/number-one-spending-mistake-ruining-retirements/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep591-description-tv-s12e01 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:57 - Half a Million and Rental Properties in Our Mid-40s. Can We Retire Early? (B & S, Westminster, MD) 12:48 - Refugee to $3.75M: Is My Roth Conversion Plan Actually Solid? (Vee, OR) 25:55 - Can Friends with $1.4M and a Roth Conversion Puzzle Retire in 3 Years? (Chandler & Monica, TX) 33:05 - Outro: Next Week on YMYW Podcast

  • #590
    July 14 · 45 min

    Got a Pre-Tax Fortune? Nobody Warns You About the Retirement Tax Bomb - 590

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast 590, Joe Anderson, CFP® and Big Al Clopine, CPA spitball for people with a small fortune sitting in pre-tax accounts turning into a tax bomb. We’ll find out how Roth conversions and careful tax liability management can optimize their retirement income strategy. Eric in California is 72 with nearly four million dollars in pre-tax accounts. How much should he transfer in Roth conversions? Is borrowing against his own house to pay the tax bill brilliant or bonkers? Rick and Kiani hoping they can quit sooner than they think. Mike just hit full retirement age. Should he claim Social Security benefits now or wait until age 70? And finally, Jeff wants to walk away at 59 with a roadmap for aggressive Roth conversions, assuming the tax cliff doesn't get him first. Free Financial Resources in This Episode: https://bit.ly/ymyw-590 (full show notes & episode transcript) 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-ep590-description-whitepaper Financial Blueprint (free, self-guided): https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep590-description-blueprint Retirement Checklist: Check Off These 7 Things Before You Retire - YMYW TV: https://purefinancial.com/ymyw/episodes/retirement-checklist-check-off-these-7-things-before-you-retire/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep590-description-tv-s12e05 REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:01 - $3.9M Pre-Tax at 72: How Do We Minimize Taxes Before RMDs Hit? (Eric, CA) 11:13 - We’re on One Salary. Can We Retire at 62 With $1.7M and a $56K SS Benefit? (Rick & Kiani, Southern CA) 23:16 - Just Hit Full Retirement Age. Should I Delay Social Security or Start Now? (Mike, 66, NV) 31:04 - Retiring With $4M and a Roth Conversion Roadmap at Age 59. Does Our Plan Hold Up? (Jeff & Amber, 55, Orlando, FL) 44:54 - Outro: Next Week on the YMYW Podcast

  • #589
    July 7 · 44 min

    Retirement Margin Loans: Is Buy, Borrow, Die Worth the Risk? - 589

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC The margin loan debate continues today on Your Money, Your Wealth® podcast number 589. Jack and Jill recently moved from the UAE to Australia and want a sanity check on using margin loans (AKA pledge loans) to build and live off their portfolio. Joe and Big Al spitball whether borrowing against stocks and never paying tax on the gains, the Buy Borrow Die strategy, is smart, or a fast way to blow yourself up. They also recap the spicy comments on the episode 585 margin loan discussion. Then the fellas flip the script for Forest and Jenni in Virginia: does a reverse glide path, investing conservatively now and getting more aggressive as you age, actually hold up? And finally, Jack and Diane in New Jersey are retiring this year, selling the house, and moving to Florida, so Joe and Big Al stress-test their Roth conversion plan before they pull the trigger. We're making fun of finance over here on YMYW, the financial planning podcast that won't put you to sleep. Tell a friend. Free Financial Resources in This Episode: https://bit.ly/ymyw-589 (full show notes & episode transcript) Withdrawal Strategy Guide - free download: https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep589-description-whitepaper Retirement Sabotage! 12 Post-Retirement Money Mistakes to Avoid - YMYW TV: https://purefinancial.com/ymyw/episodes/retirement-sabotage-12-post-retirement-money-mistakes-to-avoid/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep589-description-tv-s10e08 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:53 - Margin Loans, Buy-Borrow-Die, and PFIC Risk: Sanity Check (Jack & Jill, Australia) 13:11 - Why I Love Margin: NYC Tax Math (Bones1999, YouTube) 14:29 - 8% Margin Loans to Buy Stocks: Bad Math! (Tom, YouTube) 19:39 - Reverse Glide Path at Retirement: Does Starting Conservative Make Sense for Us? (Forest & Jenni, VA) 35:43 - Retiring to Florida: SEP IRA Bridge, Home Sale Timing, and Roth Conversions (Jack & Diane, NJ) 43:18 - Outro: Next Week on the YMYW Podcast

  • #588
    June 30 · 48 min

    $500K Income, $900K Saved: Will FIRE at 55 Work? - 588

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Joe Anderson, CFP® and Big Al Clopine, CPA spitball for three people planning for early retirement and wondering, can I really pull this off? How much risk can you take, and how much do you really need to? That’s today on Your Money, Your Wealth® podcast 588. Dr. Kickass Seabass and his wife are both 41 and they got a late start on savings. Can they still hit FIRE - that is, financial independence, retire early - by 55? Get your salt shakers ready. Aang and Katara have military pensions and a big thrift savings plan. Should they invest it aggressively or play it safe over the next decade? Finally, Steph has a mandatory retirement at 56 but wants out even sooner, at age 50… if his wife Ayesha doesn't kill him first for quitting seven years before her. Free Financial Resources in This Episode: https://bit.ly/ymyw-588 (full show notes & episode transcript) Retirement Income Strategies Guide - free download: https://purefinancial.com/white-papers/retirement-income-strategies/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-retirement-income-strategies&utm_content=ymyw-pod-ep588-description-whitepaper Financial Planning at Every Age: Retirement Planning for Millennials, Gen-X & Baby Boomers - YMYW TV: https://purefinancial.com/ymyw/episodes/financial-planning-at-every-age-retirement-planning-millennials-gen-x-baby-boomers/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep588-description-tv-s10e7 Retirement 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-ep588-description-whitepaper Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:00 - High-Earning Doc With a Late Start: Can I Actually FIRE at 55? (Kickass Seabass, NJ) 13:39 - Military Pension + TSP: How Aggressive Should We Stay for the Next Decade? (Aang & Katara, VA) 25:10 - Mandatory Retirement at 56, But Can I Punch at 50? (Steph & Ayesha, SF Bay Area) 46:54 - Outro: Next Week on the YMYW Podcast

  • #587
    June 23 · 44 min

    Roth Conversions vs. RMDs: Which Tax Bill Hurts More? - 587

    Financial Assessment (Meet with an experienced professional): https://bit.ly/YMYWassessC 11 rapid-fire spitballs today from Joe Anderson, CFP®, and Big Al Clopine, CPA, on Your Money, Your Wealth® podcast number 587, on everything from Roth conversions and RMDs to whether a guy named Wayne can finally treat himself to a seventy-five-thousand-dollar Audi. Aaron in Syracuse just hit a million bucks in his 401(k) and realizes he needs a spitball on keeping his RMDs low. Do new Roth conversions restart the 5-year clock? 72-year-old Mike in Texas wants to know. Marion inherited a not-yet-five-year-old Roth, and an IRMAA problem along with it. Lu and Stephen each argue that the fellas’ conversion and retirement spitball math might be misleading. Teachers Tony and his wife have pensions that cover everything, so should they even keep saving? John and Peggy need a retirement spitball, Rajesh wonders if he should pay off his mortgage or convert to Roth, and Mike in San Marcos asks about funding a Roth with pension money. Free Financial Resources in This Episode: https://bit.ly/ymyw-587 (full show notes & episode transcript) 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-ep587-description-whitepaper 401(k) vs. IRA vs. Equity Compensation: The Real Math - YMYW TV: https://purefinancial.com/ymyw/episodes/recipe-for-retirement-retirement-plans-explained/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep587-description-tv-s10e12 Financial Blueprint (free, self-guided): https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep587-description-blueprint REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:32 - $1.1 Million in My 401(k) at 56: Should I Do Roth Conversions Before RMDs Hit? (Aaron, Syracuse, NY 04:51 - Can You Fund a Roth IRA With Pension Money? (Mike, San Marcos, CA) 06:14 - Can You Roll an UTMA Into a 529 for Tax-Free Education Savings? (Bob the Builder, Westchester, NY) 10:29 - I'm 72 With a 25-Year-Old Roth. Do New Conversions Trigger the 5-Year Clock for Roth Withdrawals? (Mike, TX) 11:43 - Inherited a Roth Less Than 5 Years Old: Are the Earnings Taxable? Can IRMAA Be Avoided? (Marion) 15:59 - You Ignore Future Income! How to Spitball Spending When a Pension and Social Security Are Coming (Stephen) 21:02 - Are Your Roth Conversion Calculations Misleading? Why Future RMDs Need an Inflation Check (Lu) 24:57 - We're Teachers With Pensions That Cover Everything. Should We Stop Saving and Fund the 529s? (Tony, NY 28:23 - $4 Million and Ready to Exit the Rat Race at 61. Do the Numbers Work? (John and Peggy, San Jose, CA 34:37 - $4 Million 401(k) and a 6.5% Rental Mortgage: Pay It Off or Convert to Roth? (Rajesh) 38:42 - We're 62 With $1 Million. Can I Finally Buy the $75K Audi, or Should I Lease? (Wayne, Long Beach, NY) 43:17 - Outro: Next Week on the YMYW Podcast

  • #586
    June 16 · 43 min

    Roth Conversions: When to Pay Taxes NOW - 586

    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-whitepaper The 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-s12e04 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:10 - 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

  • #585
    June 8 · 42 min

    Don't Overcomplicate Retirement: Margin Loans, Whole Life, Roth Mistakes - 585

    Financial Assessment (Meet with an experienced professional): https://bit.ly/YMYWassessC Free Financial Resources in This Episode: https://bit.ly/ymyw-585 (full show notes & episode transcript) Today on Your Money, Your Wealth® podcast number 585, Joe and Big Al spitball for folks who are already winning and thinking about getting fancy with it. Reno in Oregon is 50, and his pension is so big he's not sure how to invest or why he would need to convert to Roth. Michael is considering taking out a half-million-dollar margin loan to juice investment returns. What do the fellas think? Tune in for the surprising debate. Husker Fans just pocketed two million from selling their business here come the product pitches: should they buy annuities, set up a charitable trust, or just swallow the tax? What do the fellas think of whole life insurance? And finally, John and Lib on Waltons Mountain - or rather, the Catskills - aren’t sure if they’ve saved too little or too much. Can they bridge the gap until their pension? Emotionless Investing Guide - free download: https://purefinancial.com/white-papers/emotionless-investing-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-emotionless-investing-guide&utm_content=ymyw-pod-ep585-description-whitepaper Financial Blueprint - free, self-guided: https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep585-description-blueprint Retirement Rebound: 5 Plays to Help You Score a Comeback - YMYW TV: https://purefinancial.com/ymyw/episodes/retirement-rebound-5-plays-help-score-comeback/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep585-description-tv-s10e11 REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:58 - How Should a Pension-Rich 50-Year-Old Invest? Should They Even Bother with Roth Conversions? (Reno, OR) 10:30 - Should I Borrow $500K in a Margin Loan to Invest? (Michael, VA) 23:01 - We're Getting $2M From Selling the Business. Annuity, Charitable Trust, or Bite the Tax? What About Whole Life Insurance? (Husker Fans, Nebraska) 34:14 - Can a Frugal Mountain Couple Bridge the Gap to a $60K Pension? (John & Lib, NY Catskills) 41:13 - Outro: Next Week on the YMYW Podcast

  • #584
    June 2 · 47 min

    These Tax Strategies Let You Spend More in Retirement - 584

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Heidi 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-whitepaper Financial 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-blueprint Retirement 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-s11e02 REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:02 - 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

  • #583
    May 26 · 46 min

    $1.6M in One Stock? Here's How to Get Out Without Getting Crushed - 583

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Joe Anderson, CFP® and Big Al Clopine, CPA spitball for people sitting on life-changing gains who are just one wrong move away from handing a third of it to the IRS. How should they diversify their concentrated stock positions? That’s today on Your Money, Your Wealth podcast number 583. First up, Walter's a software engineer who got lucky 15 years ago. Now he's got $1.6 million in company stock, and a retirement clock ticking down in six years. Richard from Staten Island listened to his son six years ago, went big on oil, saw a huge gain, and now 80% of his portfolio is in that one position. His custodian wants him to sell, but he’s not so sure. Finally, Doctors “Bones McCoy and Beverly Crusher” just discovered they’ll be inheriting millions still sitting in an old 401(k) loaded with company stock. Free Financial Resources in This Episode: https://bit.ly/ymyw-583 (full show notes & episode transcript) 2026 Tax Planning Guide - free download: https://purefinancial.com/white-papers/tax-planning-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-tax-planning-guide&utm_content=ymyw-pod-ep583-description-whitepaper 10 Steps to Improve Investing Success - free download: https://purefinancial.com/white-papers/10-steps-to-improve-investing-success/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-10-steps-to-improve-investing-success&utm_content=ymyw-pod-ep583-description-whitepaper Once Retirees See This Data, They Stop Worrying About Investing - YMYW TV: https://purefinancial.com/ymyw/episodes/once-retirees-see-this-data-they-stop-worrying-about-investing/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep583-description-tv-s12e03 Strategies for Diversifying Concentrated Stock Positions - blog post: https://purefinancial.com/ask-pure/strategies-for-diversifying-concentrated-stock-positions/?utm_source=captivate&utm_medium=podcast&utm_campaign=learning-center&utm_content=ymyw-pod-ep583-description-learning-center Comic-Con 2014: https://www.youtube.com/watch?v=EQASw5viQPI 2016: https://www.youtube.com/watch?v=WcSRFo7W5ZQ Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:09 - How Do You Sell $1.6M in Company Stock Without Writing the IRS a Giant Check? (Walter & Jesse, NM) 13:04 - One Oil Stock is 80% of My Portfolio. My Financial Advisors Want Me to Sell It. I Don't Trust Them. (Richard, Staten Island, NY) 30:10 - We're Two Doctors About to Inherit a $1.35M Tax Bomb. What Now? (Bones & Beverly, MI) 45:23 - Outro: Next Week on the YMYW Podcast

  • #582
    May 19 · 43 min

    Safe Withdrawal Rate Debate: How Much Can You REALLY Spend in Early Retirement? - 582

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today 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-whitepaper Financial Blueprint (free, self-guided): https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep582-description-blueprint Retirement Pop Quiz: 18 Questions to Get You Ready to Retire - YMYW TV https://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-s10e10 REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:14 - 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

  • #581
    May 12 · 37 min

    Roth Conversions, Pension Lump Sums & Annuities: Is Bigger Always Better? - 581

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC June in Washington State is 62 with $2.5 million saved and a $350,000 pension on the table. Should she take the lump sum or the monthly check for life? Spoiler alert: there's a 3-to-1 vote in the studio, and Big Al is the one, today on Your Money, Your Wealth® podcast number 581 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Plus, how aggressive should “Homer and Marge” get with Roth conversions, and is it smart to pay the conversion tax from an inherited IRA RMD? Pompous Assets drops his big, fat wallet on the YMYW table next: with millions in tax-deferred and taxable accounts, why is his financial advisor fighting him on a Roth conversion? Of course, Joe and Big Al have some thoughts on the subject. Finally, Johnny Mercer in Georgia is eyeing an immediate income annuity and a MYGA. The fellas break down why that 7.5% “rate of return” might not be what he thinks. Free Financial Resources in This Episode: https://bit.ly/ymyw-581 (full show notes & episode transcript) Ultimate Guide to Roth IRAs - free download: 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-ep581-description-whitepaper Financial Blueprint (free, self-guided): https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep581-description-blueprint Your 11 Step Path to Financial Freedom - YMYW TV: https://purefinancial.com/ymyw/episodes/your-11-step-path-to-financial-freedom/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep581-description-tv-s10e13 REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:08 - Should I Take the Pension Lump Sum or Monthly Income? (June, WA State) 09:23 - How Much Should We Convert to Roth Each Year? (Homer & Marge) 16:26 - Should I Convert My Entire IRA to a Roth? (Pompous Assets, Arkansas) 23:00 - $5M All in Pre-Tax. Should I Buy an Annuity Before It's Too Late? (Johnny Mercer, GA) 36:00 - Outro: Next Week on the YMYW Podcast

  • #580
    May 5 · 45 min

    You Have Enough to Retire Before 60. Why Are You Still Working? - 580

    Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today 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-whitepaper Retirement 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-whitepaper 401(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-s10e06 Financial Blueprint (free, self-guided): https://bit.ly/YMYWblueprintC REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:56 - 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

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