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Brian in New York and “Todd and Margo” in Utah each have over $3 million in their pre-tax accounts. What should their Roth conversion strategies look like, and can Todd retire this year? But first up, should “Captain Morgan” go Roth to avoid RMDs and can he retire in a couple of years? Should “Klo Jopine” contribute to Roth instead of traditional if his income will always remain the same? Finally, Kyle and Katie have high incomes and need a spitball on how they can avoid future RMDs. Ya think Roth conversions might be in their future? We’ll find out.
“Chase and Ryder” are 56 and 55 with $5 million saved and huge pensions the day they retire. So why are they so nervous about pulling the trigger? “Andy and April” are 46 with $2.4 million saved and 10 years until they want to retire. Can they get there, and do they need a trust? “Burt and Sally” are in their late forties with solid pensions and a retirement dream, but is the math close enough to make it work? Finally, does “Dolly” have any options for squeezing more out of Social Security when she and her spouse have identical benefits? She’s inheriting a brokerage account too, and wonders about the asset mix.
“How much do I need to retire?” Joe Anderson, CFP and Big Al Clopine, CPA hear this question all the time. Today on YMYW, they delve into a crucial aspect of retirement planning: determining how much you can spend in retirement without running out of money. Find out how to calculate a safe withdrawal rate, […]
Joe Anderson, CFP® and Big Al Clopine, CPA spitball on whether a popular early retirement strategy could actually blow up your financial plan, today on Your Money, Your Wealth® podcast number 577. Red and Kitty from Wisconsin are burned out at 40 and wonder if retiring at 45 using the 72(t) tax election to take substantially equal periodic payments, or SEPP, is a smart bridge strategy. Jiminy Billy Bob in North Carolina is also considering a 72(t). How should he structure his withdrawal order, and does he need to shift into bonds before downshifting his career? Plus, Steve and Sharon in Minnesota have 8 million bucks. Steve is getting laid off at age 56. What should they do with their 401(k), stock options, incentives, and benefits before and after the layoff?
Are Roth conversions worth it? We’ll find out, today on Your Money, Your Wealth® podcast number 576. TJ in PA is gonna have huge capital gains. Joe and Big Al spitball on whether it’s worth it for him to convert. Rebels Without a Gauze in New England are over 70. Is it too late for them to convert? How much should Biking Barnsey convert from his tax-deferred accounts to Roth each year, and are there any single ladies in the YMYW audience that would like to help him spend his retirement money? Finally, the fellas spitball on whether Zisi and his wife are being too aggressive with their conversion strategy.
Pure’s Director of Tax, Amanda Cook, CFP®, CPA, Esq, provides strategies and proactive planning techniques to help you make the most out of tax-saving opportunities in 2026. Outline 00:54 – Tax Return Basics 07:16 – Tax Rates & Tax Cuts Jobs Act 10:49 – New Deductions & Trump Accounts 15:24 – Charitable Contributions & Social […]
“Lloyd and Diane” in Montgomery County are 50 with $8.4 million. Can they retire early and still be generous with their kids? E and T in Missouri are 34 and 31 with $255K, and hopefully some big inheritances in the future. Can they fund the kids’ college, and help them buy their first homes, AND retire early? Kent in Kansas City is 73 with 12 million bucks and $2 million in life insurance. Do Joe and Big Al back up his plan to buy an annuity, gift money to his kids now, and still spend freely in retirement, Die With Zero style? Finally, should John in the San Francisco Bay Area sell the family home and move to Nevada, or hold the house for his autistic daughters to inherit later?
Joe and Big Al focus on Social Security claiming strategies as part of the retirement spitballs, today on Your Money, Your Wealth® podcast number 574. Bijou Plutus and her husband in Massachusetts are 62 and 64 with about a million dollars. Can she retire at 65, and should he claim Social Security early? Dr. Jekyll and Mrs. Hyde in the Twin Cities have about the same at 51 and 49, plus big pensions and high spending. Can they afford to retire early, and when should they claim Social Security? Diggler and Roller Girl in Tennessee are 57 and 58 with about $600K, and Diggler estimates his Social Security break-even is at age 77. Can he collect Social Security early and simply work recreationally?
Juan and Mary in Brooklyn are 49 and 48 with $2.2 million saved. Can Juan afford to retire early, or just walk away if he gets fired? And if they get divorced, yikes – but does the math still work? That’s today on Your Money, Your Wealth® podcast number 573. But first, “Reuben Sailing Shoes” is 68, single, retired, and has $1.6 million saved, but he’s never had a budget in his life. How much can he actually spend? “Leslie and Ben” are federal retirees in their seventies with great pensions and a mix of pre-tax and Roth savings, and “Mork and Mindy” in Delaware are retired with an annuity, a pension, Social Security, and $1.3 million in an IRA. Joe Anderson, CFP®, and Big Al Clopine, CPA, spitball on how Roth conversions and RMD timing can help both couples minimize taxes and make the most of what they’ve got.
“Carl and Jane” have eight million bucks and their advisor is suggesting a 130/30 long-short investing strategy. Joe Anderson, CFP® and Big Al Clopine, CPA, spitball on whether this is a smart tax move or unnecessary complexity — and whether they would do it themselves. Plus, Tyrone and Tova think they may never even need their retirement accounts, so do they really need to bother with Roth conversions if the kids are going to inherit the money anyway, or could skipping the conversions mean losing half their retirement income to taxes? Mark in San Diego is juggling Roth conversions and Social Security timing without blowing up his tax bill, or the income-related monthly adjustment amount for Medicare, or net investment income tax. And “Boat Drinks” has a big non-qualified deferred compensation plan. How can he structure payouts before it turns into a tax nightmare – and before he potentially gets laid off?
Pure’s Director of Tax, Amanda Cook, CFP®, CPA, Esq, reviews new tax changes and strategies for filing your return, making charitable donations, and structuring your estate plan in 2026. Transcript While you’re preparing your tax return for 2025, it’s a great time to start thinking about how to set yourself up for 2026. Here are […]
George in South Carolina wants to retire in 8 years at 53. Does he have enough in his brokerage account to bridge the gap to Social Security? Joe in Massachusetts is saving a staggering $200,000 a year, but will his high-spending lifestyle make a multi-million dollar nest egg look small? The fellas help 26-year-old Jonathan in Florida map out a path to retire in his 40s using his 457 plan, and they spitball on whether early exit strategies for both Kris and Rojo in California are a “green light” or a reality check. Plus, Joe explains why the “Rule of 55” and Roth conversions might be some of the most important tools in your early retirement toolbox.
Pure’s Tax Planner, Juliana Fulop, breaks down tax-advantaged child accounts that parents can take advantage of to help their children establish and build a meaningful foundation for their financial future. Transcript You may have heard about the new Trump accounts designed to help children save for the future, but how exactly do they work? Trump […]
Are you among the 49% of retirees making the same mistake that quietly costs thousands every single year? The good news is, it can be fixed with a little clarity and some thoughtful planning. Find out what that mistake is and how to avoid draining your portfolio faster than you planned, as Joe Anderson, CFP® […]
The word “taxes” may not be at the top of everyone’s list of favorite things to address. But with some forward-looking preparations, managing your taxes does not have to be burdensome with the help of this tax planning guide. In this guide, you’ll learn… Important Tax Deadlines Retirement Account Limits & Roth IRA Income Limits […]
