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Joe and Big Al spitball on how to avoid screwing up the timing of your Roth conversions: Barrie from New York is 62 and single, and she’s been diligently converting pre-tax money each year for lifetime tax-free Roth growth. Should she continue after she retires next year? “Jerry and Elaine” want to retire in the next six years and still leave the kids an inheritance. When should they start Roth conversions? Alex in Pennsylvania is a 31-year-old software engineer. Should he convert his IRA to Roth all at once? Plus, how can he transition into a career as a financial planner? A clarification from one of our YouTube viewers on the age plus 20 rule of thumb for retirement contributions is very un-clarified for Joe, and the fellas let Lisa in San Diego know whether she can use her rental real estate income to fund a Roth 401(k).
Think you’re ready to retire? Joe Anderson, CFP® and Big Al Clopine, CPA reveal six powerful signs that show whether you truly have enough to quit working—and what steps you can take now to secure the retirement you’ve always imagined. Calculate your FREE Financial Blueprint Important Points: 00:00 – Intro: The #1 Question About […]
A comment on one of our YouTube videos sparks a dialogue between Joe and Big Al on the 4% rule vs the “guardrails” withdrawal strategy. Joe at the Beach is managing his ~$6M portfolio on his own, but wants the fellas’ take on his upper limit for yearly spending, so he can keep drinking his old-fashioneds. Can Joe Ko in Virginia afford to bridge the gap between retiring at 67 and taking Social Security at 70? Plus, “Harold and Maude” have nearly $7M saved. Should they accelerate Roth conversions into high-tax brackets before moving from low-tax Colorado to high-tax California? And how much more than their current annual spend can they afford for family vacations and travel?
Wendy and Joe in Colorado ran the numbers, and their financial planning software says they’ll have over $10 million when they pass. Wendy’s wondering if they should continue converting to Roth while working, despite their high tax bracket. But has the software lulled them into a false sense of security? That’s today on Your Money, Your Wealth® podcast number 548. Plus, which is smarter for “Kurt and Courtney” in New York: aggressively paying down their mortgage, or putting their extra money to work in the market before Kurt retires early in 20 years? Finally, when does it stop making sense for high-earners “Tim and Faith” in Boston to contribute to their Roth? The fellas duke it out on this one (and we figure out, based on our earliest musical interests, which era we’re each children of.)
Many people envision the beach, a cabin, or a cruise ship when they think of retirement. For some, that cruise ship turns into the Titanic! Learn from Joe Anderson, CFP® and Big Al Clopine, CPA the financial, social, and physical solutions that will help you confront retirement’s biggest challenges. Download your Retirement Readiness Guide for […]
A YMYW listener from Missouri and his wife are retired at 69 and 67, with less than $2 million dollars. Should they continue converting retirement savings to Roth for the tax-free growth? What should they do about long term care insurance? More importantly, is our listener’s name (Cousy) pronounced “Cuzzy” or “Koozy”? Speaking of Roth conversions, must “Peggy Hill” wait five years to withdraw her conversion money, or only its earnings? Plus, is Skipper’s retirement payout plan the killer deal he thinks it is? How can Jeff in Dallas pay less capital gains tax on his $3M of single stocks, million dollar 401(k), and potential eBay income? Is selling on eBay still a thing? Does Dolly in Tennessee need to empty her inherited IRA within the next 10 years due to the SECURE Act? And finally, HSA vs. HRA: how should Larry in Rhode Island navigate switching from his current employer’s health savings account to his future employer’s health reimbursement arrangement?
Market downturns and corrections are completely normal. But when the stock market gets volatile, investors tend to make the wrong moves. Joe Anderson, CFP® and Big Al Clopine, CPA show you the balancing act that can improve your long-term financial outlook even in the face of stock market volatility. Calculate your FREE Financial Blueprint […]
We heard your feedback, and today, Joe Anderson, CFP® and Big Al Clopine, CPA are spitballing retirement for the not-so-fat wallets: Joe and Masako in Washington state and Reid in Indiana have less than a million saved. Can they still accomplish their retirement goals in their 60s? Mr. Buckeye in Ohio and Old Macdonald in Maine have less than a million saved, and Curt in Pennsylvania has less than $1.5 million saved. Can they retire early – in their 40s and 50s?
Updated for 2025: More people than ever before are building their financial futures solo. As a single person, life’s tacks and turns can be more devastating than if you are building your wealth with someone else. So getting your boat back on course as early as possible is essential. Taking the helm solo requires special tools and strategies to […]
One Big Beautiful Bill is now law. How does it impact your Roth conversion strategies and other financial decisions? Plus, you may have seen or heard other advisors talking about their strategies for getting your retirement savings into tax-free Roth accounts. How are these different from a good ol’ Roth conversion, and what do Joe and Big Al think of them? Also, why is Ed Slott, CPA, the man known to many as “the IRA guru,” such a fan of permanent cash value life insurance? Finally, an attempted correction from a YMYW YouTube viewer turns into a rousing game of death trivia, and we’ll share some of your opinions from the 8th Annual YMYW Podcast Survey, which just closed. (Congratulations Larry for being the randomly-chosen winner of the $100 Amazon e-gift card, just for completing the survey!)
You’ve heard Joe and Big Al talk about the benefits of tax diversification in retirement. That is, having money in tax-deferred, tax-free, and taxable accounts. But what should you do if this tax triangle of yours is lopsided? Joe and our special guest co-host, Marc Horner, CFP®, spitball on this quandary for Rae and Roy in Central California. Plus, do Rae or Roy need to get a part-time job? Also, Elwood Blues in Illinois would like to retire in two years, but is willing to go for 3 more to make his retirement plan work. Joe and Marc spitball on when Elwood can really put down that harmonica.
Famous boxer Mike Tyson said, “Everyone has a plan until you get hit in the face.” If you’re among the 49% of Americans punched in the face by an unplanned early retirement, trainers Joe Anderson, CFP® and Big Al Clopine, CPA are here with 15 defensive maneuvers that’ll help you bob and weave, slip, and […]
Is it possible, common even, to spend a lot early in retirement to celebrate your financial freedom? How do Roth conversions and withdrawals work if you do plan to call it quits around age 57, and spend big early on? Should you convert retirement funds to tax-free Roth after you stop working? Joe Anderson CFP® and our special guest co-host, Marc Horner, CFP® spitball on these topics for “Beavis and Daria” in Texas and “Clark Kent” in Pennsylvania, today on Your Money, Your Wealth® podcast number 543. Plus, the sooner 56-year-old “Tony Soprano” in New Jersey can retire, the better. What tips do Joe and Marc have for him? By the way, Marc is one of the newest principals here at Pure Financial Advisors. He’s the founder of Fairhaven Wealth Management, which has just become the newest Pure Financial Advisors Chicagoland office in Wheaton, Illinois – so help us welcome him for his YMYW debut.
“Rubble and Skye” in Minnesota want to spend $65,000 a year in retirement, and they’ll have $67K in annual fixed income. Are they cutting it too close? “Atouk and Tala” in New Jersey will have retirement money, Social Security, and “Lumpy,” their lump sum pension – will they be okay? Plus, should David in Redondo Beach California use his Roth money to buy a home? And what do the fellas think about “Charlie Pepper” in Colorado using a home equity line of credit (HELOC) for retirement spending, instead of living off of pre-tax money?
Retirement is a time to enjoy the things that matter most, whether that’s exploring new places or creating lasting memories with loved ones. Pure’s Financial Advisor, Joey Bailey, CFP®, CPA, shares how thoughtful planning can help you build a fulfilling retirement filled with purpose, joy, and adventure. He discusses: Estimate the costs of retirement Establish […]
