More Educational Videos
Growing your wealth and crafting the lifestyle you want in retirement begins with some basic assumptions. Are you basing your entire financial plan on facts or fiction? Many people don’t even know where to start, much less what is true or false. In many cases, the misconceptions are largely considered facts! In this episode, Joe […]
Are you behind on your retirement savings? What do you need to do to catch up? If you retire in just a few years, will your money last until age 90? Based on the 5-year Roth withdrawal rules, do you need to open a new Roth IRA for each Roth conversion? Plus, Joe and Big Al spitball a health insurance, capital gains, and real estate strategy to save more money and have more wealth in retirement. Finally, they revisit the SECURE Act rules for withdrawing money from an inherited IRA, and Social Security income limits.
Joe and Big Al explain when and how to claim Social Security survivor benefits, and how earning income impacts your benefit if you collect Social Security before full retirement age. Plus, how much should you withdraw in retirement from tax-free, taxable, and tax-deferred accounts? Also, RMDs, deciding whether to keep a life insurance policy, and of course, Roth conversion strategies – is the backdoor Roth better for long-term portfolio growth?
Answers to your questions on, of course, backdoor Roth strategies. Y’know, to get as much lifetime tax-free growth on your investments as possible. Plus, investing strategies: does it make sense to buy a property now and rent it out until retirement? How much of a single stock in your investment portfolio can you sell and pay no capital gains tax? The fellas also explain capital loss carryovers, inherited IRAs, spousal Social Security and delayed retirement credits, required minimum distributions, and they spitball on an appropriate allocation of bonds, domestic stocks, and international stocks.
Avoid costly mistakes when collecting Social Security. During this webinar, Dan Goldstein, CFP®, MBA provides insight into the history of Social Security, Social Security eligibility, how Social Security works, and how to make the most of your Social Security payments. Dan answers questions from the audience on spousal and survivor benefits, tax on Social Security, […]
Understanding how Social Security benefits work and implementing some strategies can really help you get the most out of your Social Security in retirement. Allison Alley, CFP®, AIF®, Pure financial advisor covers 5 ways to maximize your benefits: 1. Understand how your Social Security benefit is calculated. 2. Impact of starting your Social Security income […]
Should you claim Social Security early, at age 62? Or perhaps you should take Social Security at your full retirement age? Or should you wait to collect Social Security benefits at age 70? Understanding your Social Security break-even age can be a useful factor when determining when to start collecting your Social Security benefits. David […]
Newly updated for 2022: Whether you are retiring in a few months or a few years, Social Security is one of the most important decisions of your retirement. This Social Security Handbook walks you through what you will need to know for 2022 and beyond. This guide will explain… History of Social Security Recent Changes […]
If you listen to Your Money, Your Wealth®, you know Joe and Big Al are all about having a plan for retirement. Using examples from past YMYW episodes, they cover five questions you need to answer before you retire – so you can stay retired.
Required minimum distributions: how do they work, when do you have to take them, and do Roth IRAs have RMDs too? Plus, were the fellas being misleading when they talked about claiming Social Security early vs. late if you save and invest the benefits? Listen for their rebuttal. When you change 401(k) custodians, is it a transfer, or a whole new plan? Can you convert your entire 401(k) to Roth, and should you? Finally, If you’re worried about high tax brackets in retirement, should all your contributions now go to Roth?
Want to learn the little-known secrets to help you prepare for retirement? This Retirement Readiness Guide includes 7 important and simple plays to help you get retirement ready despite the uncertainties that we may face. Planning for your retirement is something that takes time, so start today for a bright future tomorrow. In this guide […]
When is it appropriate to buy an annuity? Joe and Big Al run a retirement annuity spitball analysis. Plus, when might it make sense to take Social Security early, and what are the rules for collecting survivor Social Security benefits? Finally, how does net investment income tax (NIIT or the Medicare surtax) on long term capital gains impact a house sale? Is it possible to do a 1031 exchange from rental real estate in Utah for investment property in California?
Spitballing retirement for a police officer turning teacher, a self-employed small business owner, an early retiree with an employee stock ownership plan (ESOP) wanting to do Roth conversions and withdraw 5 or 6% in retirement, and a pension and Social Security analysis. Plus, how many months of expenses should you save in your emergency fund? Also, you may know where Ric Edelman and Dave Ramsey stand on 15 vs. 30-year mortgages and using cash vs. credit, but what does YMYW think? Kyle Stacey, CFP® fills in with Big Al Clopine while Joe Anderson is on vacation.
There is one decision you can make that can be the difference in tens of thousands, even hundreds of thousands of dollars for you in retirement. Do you know what it is? How and when you claim your Social Security benefits is a critical choice that many people are not even aware that they have […]
When deciding whether to claim Social Security early, how do taxes figure into the analysis? If Social Security creates too much provisional income so that you have to pay tax on your Social Security benefits, does it make sense to claim Social Security early? If you apply for Social Security at age 70 and learn you could’ve taken spousal benefits for four years, are you owed that money? Plus, a listener takes issue with YMYW’s dollar-cost averaging discussion. But first, how long did the recovery from the 1929 stock market crash really take, and do higher yield investments early in retirement offset sequence of returns risk?