Are there general guidelines on what percentages of your investment portfolio should be in tax-free accounts like your Roth, tax-deferred accounts like your 401(k), and taxable accounts like your brokerage? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on tax diversification today on Your Money, Your Wealth® podcast 468 for Brian in Naperville, IL. William in NH also wants to be tax-diversified. Is his Roth conversion strategy a mistake? Should he be converting much more to Roth? The fellas also do a retirement spitball analysis for Tom in Spokane, WA, and for Claire in CO, who wants to retire next year. Plus, how does Matthew in CT calculate excess Roth contributions, and how should Thomas in IA reallocate assets he over-contributed to his brokerage account? Now that Sean in FL no longer has a traditional IRA, can he use the backdoor Roth strategy? We kick things off with a question from Joe in Dallas on how to account for taxes on the money you’ll be spending in retirement.
Are you thinking about boosting your financial situation in 2024? Pure’s Financial Planner, Bill Hodapp, CFP®, CPA, AIF®, discusses strategies aimed at refining your budgeting, optimizing tax management, and elevating your investment approach for the year. Outline 0:07 – Intro 1:45 – Personal Finance Goals 3:15 – Creating a Budget 5:21 – 50/30/20 Strategy 6:03 […]
How investment savvy are you? Do you know the difference between asset allocation and asset location? Many Americans don’t have a solid understanding of basic investing terms and concepts, and their lack of financial literacy can cost them! It can be difficult to grow your wealth if you don’t know what tools and strategies you […]
Can Sven and Olga in Minnesota shorten their working years? Should PJ in Michigan take his pension lump sum or the annuity payments, and should he maintain an aggressive asset allocation in retirement? Plus, the fellas spitball early retirement strategies for Joe in Massachusetts and Nick in California, and they discuss how to tell the difference between post-tax contributions and pre-tax funds converted to Roth at tax time for Victor.
If you are like the majority of Americans, your financial health barely has a pulse, and the condition is worsening rather than getting better. With the money you have saved right now, at what age would you be able to retire? 65? 70? NEVER?! The doctors are in the house: Joe Anderson and Alan Clopine […]
Do you need to pull over and ask for directions on the road to retirement? Mile Markers along the highway let you know how much you’ve traveled and how much more you’ve got to go. When it comes to retirement, those Mile Markers can let you know if you are on track to retire comfortably… […]
Your asset allocation will evolve as your financial life, timeframes, and comfort with investing changes. Pure’s Financial Planner, Nick Rose, CFP®, AIF®, talks about the importance of having the proper mix of investments in your portfolio to optimize your money’s growth regardless of age and economic circumstances. FREE GUIDE | Retirement Reality Checklist Transcript Asset […]
Do you want to be rich, or do you want to be wealthy? Do you want to be both? Is there a difference? What are important steps that you can take today to grow your wealth? Regardless of your age or where you are in life with saving for retirement, today’s show is for you. […]
Is it better to choose low-cost index funds or to diversify investments, even if it means paying higher fees? What causes mutual fund price fluctuation? Are mid-cap funds necessary in a balanced portfolio? Joe and Big Al also talk about real estate funds vs. real estate investment trusts (REITs), and annuities vs. bonds in a retirement portfolio. Finally, we revisit some investing strategy questions from earlier in the year that are still relevant in today’s volatile markets, on moving to cash in tough times, analyzing your asset allocation, and rebalancing your retirement portfolio.
What one thing can you do today to change the course of your financial future? Having a written financial plan can dramatically increase the chances you’ll reach your retirement goals. Yet, according to Schwab, only 33% of Americans have one! A One-Page Financial Plan helps distinguish the overlap of things that are actually important and […]
Are you in the most critical zone of your investment life? Do you know what that critical zone is and how important it is to ensure you make the right moves now? In your financial planning life, there are three phases of investment savings. There is the accumulation phase, the preservation phase, and the distribution […]
As bear market territory freaked out some investors, YMYW listeners were a bit more chill as Joe and Big Al spitballed on their specific strategies to manage the decline: does it make sense to move to cash inside your retirement account? How do down markets impact Roth Conversion decisions for older investors? What should your asset allocation be now, during market volatility, if you’re expecting a future windfall? How should you manage the relationship with your financial advisor if they buy high and sell low in your investment portfolio? Should you leave a partially vested pension to grow, or withdraw the money now and convert to Roth? What’s the best way to withdraw from an IRA in a down market?