Episodes

  • How to Get Into Real Estate Investing, Spitballing Retirement - 499

    How to Get Into Real Estate Investing, Spitballing Retirement - 499
    Oct 15 2024
    Are real estate investment trust (REIT) ETFs a good way for Leon to begin investing in real estate? Can AI Seth stay retired at age 52, and should he do Roth conversions? Jenn in Ohio wants the fellas to be brutally honest about whether she should move with work, take a break, or retire now. And "George and Weezy" are in their mid-50s - can they "move on up" to a deluxe retirement lifestyle in 2026, or even earlier? That’s all today on Your Money, Your Wealth® podcast 499 with Joe Anderson, CFP® and Big Al Clopine, CPA. Access free financial resources and the episode transcript: https://bit.ly/ymyw-499 DOWNLOAD | Growing Your Wealth Guide WATCH | Steps to Financial Success: Grow Your Wealth at Any Age on YMYW TV CALCULATE: A Financial Blueprint of your retirement readiness for free REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment LISTEN | Top Funniest Moments From the YMYW Podcast (Vol. 1) - ep. 300 LISTEN | The YMYW AI song SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter 00:00 - Intro: This Week on the YMYW Podcast 00:47 - Are REIT ETFs a Good Way to Get Into Real Estate Investing? (Leon, Chicago - voice) 09:15 - Watch Steps to Financial Success: Grow Your Wealth at Any Age on YMYW TV, Download the Guide to Growing Your Wealth 09:49 - Can AI Seth Stay Retired at Age 52? Should He Do Roth Conversions? (Montana, voice) 16:41 - Move With Work, Take a Break, or Retire Now? Be Brutally Honest (Jenn, OH) 21:23 - Calculate Your Financial Blueprint, Schedule a Financial Assessment - both free! 22:02 - Deferred Comp: Can “George and Weezy” Retire in 2026 or Earlier? (IL) 33:18 - Outro: Next Week on the YMYW Podcast
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    34 mins
  • Spend RMDs, or Reduce Reduce Distributions and Taxes With Roth Conversions? - 498

    Spend RMDs, or Reduce Reduce Distributions and Taxes With Roth Conversions? - 498
    Oct 8 2024

    Hawkeye and Elle are age 61 and in the 32% tax bracket. How should they get money into their Roth accounts for tax-free retirement income? Clark and Ellen are 69 and 68, expenses will pretty much be covered by their fixed income, but they’d like to leave Roth money to their kids. Should they keep converting to Roth, or use required minimum distributions for their living expenses? Tom and his wife are 73, and fixed income will cover their retirement spending too. Is it advantageous to them to make three huge Roth conversions beyond their marginal tax bracket to reduce future RMDs? Should they keep things simple by leaving their money in an S&P 500 Index Fund? That’s today on Your Money, Your Wealth® podcast 498 with Joe Anderson, CFP® and Big Al Clopine, CPA. Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-498

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    LISTEN | Top Funniest Moments From the YMYW Podcast (Vol. 1) - ep. 300

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    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
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    39 mins
  • Tax-Savvy In-Plan Roth Conversions and Inherited IRA Withdrawals - 497

    Tax-Savvy In-Plan Roth Conversions and Inherited IRA Withdrawals - 497
    Oct 1 2024

    Should David in Ohio use 457 funds to do an in-plan Roth conversion in his 403(b) plan, and should he hire a financial advisor? Chris in DC needs a retirement and Roth conversion spitball analysis, and he needs help getting out of a variable annuity. Kim is anxious that she made a mess of her finances and she wonders how much she should convert to Roth, today on Your Money, Your Wealth® podcast number 497 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what’s the best way for Alissa in Cedar Rapids, Iowa to make tax-efficient withdrawals from an inherited IRA? Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-497

    CALCULATE: A Financial Blueprint of your retirement readiness for free!

    DOWNLOAD: Retirement Income Strategies Guide

    WATCH YMYW TV: Retirement Rebound: 5 Plays to Help You Score a Comeback

    REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis

    SCHEDULE: free financial assessment

    SUBSCRIBE: YMYW on YouTube

    DOWNLOAD: more free guides

    READ: financial blogs

    WATCH: educational videos

    SUBSCRIBE: YMYW Newsletter

    Timestamps:

    00:00 - Intro: This week on YMYW

    00:50 - In-Plan Roth Conversions From 457 to 403(b): Do I Need a Financial Advisor? (David, OH)

    10:54 - Get a Free Financial Blueprint, Learn About Pure's Financial Assessment

    12:13 - Retirement and Roth Conversion Spitball + How to Get Out of Variable Annuity (Chris, DC)

    20:05 - Anxious I Made a Mess of My Finances. How Much Should I Convert to Roth? (Kim)

    28:13 - Watch Retirement Rebound: 4 Plays to Score a Comeback on YMYW TV, Download the Retirement Income Strategies Guide

    29:08 - Inherited Assets: Best Strategy for Tax-Efficient Retirement Withdrawals? (Alissa, Cedar Rapids, IA)

    42:10 - Outro
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    43 mins
  • Age Plus 20 Rule for Retirement Contributions - 496

    Age Plus 20 Rule for Retirement Contributions - 496
    Sep 24 2024
    How much should you save in pre-tax accounts vs. post-tax accounts? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "age plus 20" rule for retirement savings, Roth 401(k) contributions and distributions, and a Social Security claiming strategy for Ralph and Marie in Wilmington, Delaware. Shawn wonders if YMYW listeners are ignoring the WEP and GPO when it comes to Social Security, that is, the Windfall Elimination Provision and the Government Pension Offset. Plus, can Jake and Amy in Iowa retire in 5 years, or do they need to work beyond age 60? Should Edwin stop making Roth contributions and start doing Roth conversions instead? And finally, how can Jeff in North Dakota’s son qualify for the American Opportunity Tax Credit? Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-496 REGISTER NOW: Medicare Basics webinar - TOMORROW, Wednesday Sept. 25, 2024, 12pm Pacific, 3pm Eastern, with Robert Dow and Lisa Velasco, Medicare specialists from the Dow Agency CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Social Security Handbook DOWNLOAD: Medicare Check-Up Guide WATCH YMYW TV: Medicare Check-Up: How to Keep Your Retirement Plan Off Life Support REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro 01:09 - Roth 401(k) Contributions and Distributions, Age Plus 20 Rule, and Social Security Claiming Strategy (Ralph and Marie, Wilmington, DE) 12:35 - Download the Social Security Handbook, Download the Medicare Check-Up Guide, Watch Medicare Check-Up: How to Keep Your Retirement Plan Off Life Support on YMYW TV, Register for the Medicare Basics webinar Wed. Sept 25, 12P/3E 13:37 - Are Listeners Ignoring Government Pension Offset and Windfall Elimination Provision for Social Security? (Shawn) 17:30 - Can We Retire in 5 Years Or Do We Need to Work After Age 60? (Jake & Amy, Iowa) 26.36 - Financial Blueprint - get your complementary retirement analysis 27:45 - Should I Stop Roth Contributions and Do Roth Conversions instead? (Edwin) 31:24 - American Opportunity Tax Credit for College Age Son (Jeff, ND) 35:58 - Outro
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    37 mins
  • 3 Strategies to Pay Roth Conversion Taxes - 495

    3 Strategies to Pay Roth Conversion Taxes - 495
    Sep 17 2024
    Today on Your Money, Your Wealth® podcast 495, Joe Anderson, CFP® and Big Al Clopine CPA spitball on three different listeners’ strategies for paying the tax on a Roth conversion now, to have lifetime tax-free growth on that money in the future. Should Neo in San Clemente, California convert to Roth at the beginning or end of the year in his plan to make quarterly estimated tax payments on his conversion? Is it a good strategy for Tim in Minnesota to use reimbursements from his health savings account to pay Roth conversion taxes? And what do Joe and Big Al think of Samantha in Northern California’s plan to convert to Roth and pay the tax with her IRA money? Plus, the fellas answer questions from our YouTube and Spotify followers on required minimum distributions from Roth accounts, reasons to put retirement withdrawals in a brokerage account instead of a Roth, choosing pension options, and the difference between commercial annuities and pension annuities. Plus, their thoughts on single premium immediate annuities (SPIA). Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-495 CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Complete Roth Papers Package DOWNLOAD: Retirement Readiness Guide WATCH: What Happens to Your 401(k) & IRA at Retirement? YMYW TV REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro 01:02 - Timing of Roth Conversions - and Paying Quarterly Estimated Taxes (Neo, San Clemente) 06:37 - Is Using HSA Reimbursement to Pay Roth Conversion Taxes a Good Strategy? (Tim, MN) 08:44 - Complete Roth Papers Package - free download. Financial Blueprint - free retirement analysis 09:39 - How Is Our Plan to Convert to Roth and Pay the Tax With IRA Money? (Samantha, Northern California) 19:15 - What Happens to Your 401(k) & IRA at Retirement? Watch YMYW TV, download the Retirement Readiness Guide 20:01 - RMDs for Roth Accounts: Clarification for Solo 401k (Andy, YouTube) 21:43 - Joe and Al walk into a bar… (Tony, YouTube) 22:44 - Any Reason to Put Withdrawals in Brokerage Instead of Roth? (Globe Trotter, YouTube) 23:35 - How to Decide Between Pension Options? (Frank, YouTube) 25:40 - Is a Pension Annuity a Bad Thing? (Invictus, YouTube) 26:47 - Are SPIAs the Best Annuity for Lifetime Income? (1212482970, Spotify) 29:23 - Outro 30:58 - The Derails
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    34 mins
  • How to Get Into the Stock Market: Dollar Cost Average or Go All In? - 494

    How to Get Into the Stock Market: Dollar Cost Average or Go All In? - 494
    Sep 10 2024
    TJ in Louisiana has been sitting on the sidelines, but now it’s time to get into the market. Should he dollar cost average, or just go all in? Margaret in California has an idea of selling a stock at a loss and buying a put option on that stock that expires after the 30-day waiting period. Does this work as a tax loss harvesting strategy? When is it worth it for Brian in Charlotte, North Carolina to diversify beyond a basic three-fund portfolio? Should Christine in San Diego convert her variable annuity to a fixed indexed annuity? That’s all today on Your Money, Your Wealth® podcast 494 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, how should Dean in Columbus, Georgia invest inherited retirement money? Are Jen and John on track for retirement, and how should they fund their home remodel? Are there any negative consequences for Steve in Pennsylvania if he finds a new financial advisor just a few months after hiring his current advisor? The fellas also talk through how Chris can give money to charity from his required minimum distributions. And finally, Terry calls in with a follow-up question about whether a solo 401(k) is an option to avoid unrelated business income tax (UBIT). Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-494 SCHEDULE: free financial assessment DOWNLOAD: Investing Basics Guide DOWNLOAD: 10 Steps to Improve Investing Success DOWNLOAD: Retirement Readiness Guide WATCH YMYW TV: How Your Home Can Create Retirement Income READ THE BLOG: Factor Investing: What Is It? Should You Be Doing It? SUBSCRIBE: YMYW on YouTube REQUEST: Retirement Spitball Analysis DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro 01:13 - I Want to Get Into the Market. Dollar Cost Average or Go All In? (TJ, Louisiana) 07:08 - Does This Tax Loss Harvesting Strategy Work? (Margaret, CA) 07:45 - When Is It Worth Diversifying Beyond a Basic Three Fund Portfolio? (Brian, Charlotte, NC) 13:33 - Factor Investing: What Is It? Should You Be Doing It? - Read the blog, Download the Investing Basics Guide and 10 Steps to Improve Investing Success 14:00 - Should I Convert a Variable Annuity to Fixed Index Annuity? (Christine, San Diego) 18:21 - How to Invest Inherited Retirement Funds and Where to Save Extra Money? (Dean, Columbus, GA) 21:50 - How Should We Fund Our Home Remodel? Are We On Track for Retirement? (Jen and John, California) 29:43 - How Your Home Can Create Retirement Income: Watch YMYW TV, Download the Retirement Readiness Guide 30:15 - Solo 401(k) to Avoid Unrelated Business Income Tax (UBIT)? (Terry - voice) 32:31 - Switching to a Fee Only Advisor: Any Negative Consequences? (Steve, PA) 37:19 - Intelligent Charitable Giving Through Qualified Charitable Distributions (Chris) 41:05 - Outro
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    43 mins
  • How Much Money Do You Need to Retire ASAP? - 493

    How Much Money Do You Need to Retire ASAP? - 493
    Sep 3 2024

    Can "Alanis" retire early at age 60? With "Barney and Betty’s" spending patterns, can they retire ASAP? "Daisy and Donald" need retirement income for 40 years. Can they retire now? That’s today on Your Money, Your Wealth® podcast 493 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, we review the results of the 7th Annual YMYW Podcast Survey (congratulations to jemart for winning the Amazon e-gift card!) and Joe and Big Al take on some critical YouTube comments from Keith, following their interview with Ed Slott, CPA.

    Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-493

    WATCH: Retirement Pop Quiz on YMYW TV

    DOWNLOAD: Retirement Readiness Guide

    REQUEST: Retirement Spitball Analysis

    SCHEDULE: free financial assessment

    SUBSCRIBE: YMYW on YouTube

    DOWNLOAD: more free guides

    READ: financial blogs

    WATCH: educational videos

    SUBSCRIBE: YMYW Newsletter

    Timestamps:

    00:00 - Intro

    00:57 - Are My Estimates Solid for Early Retirement at Age 60? ("Alanis", WA)

    10:39 - Watch Retirement Pop Quiz on YMYW TV and Download the Retirement Readiness Guide

    11:20 - How Much Money Do We Need to Retire ASAP? ("Barney and Betty", NE New Jersey)

    24:36 - Can We Retire Now? ("Daisy Duck", Emerald City)

    30:48 - Subscribe to the YMYW YouTube Channel

    31:15 - 7th Annual YMYW Podcast Survey Results

    38:54 - Comment: Keith Doesn't Like Ed Slott or Roth Conversions

    47:45 - Outro

    48:58 - The Derails
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    50 mins
  • Exchange Funds Explained, Roth Conversion Timing - 492

    Exchange Funds Explained, Roth Conversion Timing - 492
    Aug 27 2024

    What is an exchange fund and is it a good thing if you have a lot of capital gains like Bryan in New York? That's today on Your Money, Your Wealth® podcast 492 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what should be the timing and ordering of Billy Joe and Bobby Sue’s Roth conversion strategy to help them achieve 33 years of retirement income? Is Boston overspending or underspending in retirement? Should Andy keep life insurance policies for her kids with ADHD? How does the 5-year rule for Roth withdrawals apply to inherited Roth IRAs for Karen? Visit the show notes for the YMYW Podcast Survey and secret password (only for the next three days!), plus access the free financial resources listed below, and the episode transcript: https://bit.ly/ymyw-492

    SCHEDULE A FREE FINANCIAL ASSESSMENT

    FREE DOWNLOAD: 10 Steps to Improve Investing Success

    FREE DOWNLOAD: Social Security Handbook

    WATCH YMYW TV: Social Security Basics You Need to Know: Common Social Security Questions Answered

    REQUEST: Retirement Spitball Analysis

    SUBSCRIBE: YMYW on YouTube

    DOWNLOAD: more free guides

    READ: financial blogs

    WATCH: educational videos

    SUBSCRIBE: YMYW Newsletter

    YMYW Podcast Survey: Visit the show notes to access the survey and secret password

    Timestamps:

    00:00 - Intro

    00:37 - Roth Conversion Timing, Order, and 33 Years of Income? (Billy Joe & Bobby Sue, Indiana)

    12:32 - Watch Social Security Basics You Need to Know: Common Social Security Questions Answered on YMYW TV, Download the Social Security Handbook

    13:17 - I Have $1.2M Capital Gains. Pros and Cons of an Exchange Fund? (Bryan, NY)

    23:28 - Download 10 Steps to Improve Investing Success, last chance to complete the 7th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (type in ymyw)

    24:15 - We’ll Have $7M. Are We Underspending or Overspending in Retirement? (Boston)

    35:13 - Should We Keep Life Insurance Policies for Adult Kids with ADHD? (Andrea, Seattle)

    41:50 - How Does the 5-Year Rule for Roth Withdrawals Apply to Inherited Roth IRAs? (Karen, TX)

    45:15 - Outro

    46:22 - The Derails
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    47 mins