More Posts
Purefinancial
One of the most important financial decisions you make could mean thousands more dollars of income in retirement. How and when you claim Social Security could completely change your retirement lifestyle – but it’s complicated! The Social Security Administration’s Basic Guide to Social Security Programs contains 2,728 rules! Joe Anderson, CFP® and Big Al Clopine, […]
2024
Updated for 2024: 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 2024 and beyond. This guide will explain… History of Social Security Recent Changes How […]
2024
Barney and Betty in Maryland hit the jackpot. How’s Barney’s strategy for net unrealized appreciation, retirement withdrawals, and asset location for his $5 million employee stock ownership plan? Nick in the PNW will have $8 million when he retires early at 53. Should he contribute to his 401(k) or do the good ol’ mega backdoor Roth until then? Those are just a couple of the fat wallets Joe Anderson, CFP® and Big Al Clopine, CPA spitball on in this episode of YMYW. Plus, should Allen in New Braunfels’ recently widowed sister contribute to her traditional IRA and do some Roth conversions? Should Alicia in Denver take Social Security early to pay off her rental property, and how can Vern in Wickenburg Arizona buy a new home before or during the sale of his current home? Finally, Bryan in Washington needs to know the best investment strategy for his thrift savings plan, and Lyse in Georgia wonders when in a market downturn you should start spending your cash.
2024
Are you on track for retirement, or going off the rails? Chances are you have put some money away for retirement and some thoughts of what you’ll do once you say goodbye to your day job. But do you know if you are really ready to retire? How much is truly enough? Joe Anderson, CFP® […]
2024
Retirement planning may seem complicated and daunting. However, it’s essential to understand, especially as we’re experiencing longer lifespans and diminishing external support systems. Pure’s Financial Planner, Sumit Mehta, CFP®, AIF®, examines five critical retirement spending needs, ensuring you’re prepared to transition into retirement with confidence and peace of mind. Healthcare Social Security Investment Management Tax […]
2024
Updated for 2024 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. […]
2024
Should Peter LemonJello, who has high income, and his wife, who is retired with zero income, file their taxes as married filing separately so they can start Roth conversions? What are the tax implications of Roth conversions for Randy in Chi-town, an early retiree in the 32% tax bracket? Caity (with a C) in SLC is self-employed and over the income max to contribute to a Roth, so now what? And Ben in Oceanside, CA wants to know what impact Roth conversions will have on required minimum distributions after age 73? Joe and Big Al spitball on all these Roth conversion tax reduction strategies, plus, does the math make sense on a company-matched Kai-Zen indexed universal life insurance policy for Kickass Seabass in New Jersey? Ed in Virginia wants to know the earnings limits for family Social Security benefits. But first, can JJ in Florida’s retirement portfolio handle withdrawals of $150,000 per year? And from the banks of the Mighty Mississippi, what should midwestfabs’ post-employment asset allocation be?
2024
Should Brian in Binghamton, New York pay off his mortgage for a guaranteed 6% return? How bad did Steve in Pittsburgh screw up his retirement, and can he afford to buy a new house away from his neighbors? Can Susan and her husband in Cape Canaveral, Florida retire in a year and a half, and should they pay off their mortgage? And how can Edith and Archie in Kansas maximize Roth conversions and factor paying off the mortgage into their retirement spending strategy? Plus, Steve and Marcia in Indiana and Florida wonder about their retirement spending, and whether they should collect Social Security now or wait until age 70. Should Sunny D in Arizona keep potential withdrawals in cash or sell investments as needed to satisfy required minimum distributions (RMDs)? We kick things off with Shelly’s voicemail about investing the proceeds from the sale of a business.
2023
Are you cruising into retirement, or are you on a sinking ship? By plotting a good course and using proper tools and strategies, you can cruise into retirement. Unfortunately, many people need a life vest: they’re ill-prepared and without a compass. It’s all about being proactive. Let Joe Anderson, CFP®, and Big Al Clopine, CPA […]
2023
Coach Dobber and his wife in Edina, Minnesota have a low mortgage interest rate and a decent amount of home equity. Should they put that equity to work and take the risk on buying a higher value home at a reduced price, even if it means a much higher interest rate, and higher monthly payments too? Plus, Joe and Big Al spitball for Adam, in the birthplace of aviation, on the taxation of passive rental income, and capital gains from his portfolio and the sale of his business, prior to his early retirement. They also spitball for Charles in Idaho, on taxes on the sale of his mother-in-law’s house. Should Dan’s wife and business co-owner retire from the business and take Social Security Disability? And will Social Security be reduced for everyone? Steve in Vegas has a cautionary tale to tell.
2023
Harsh realities of life can very quickly change your retirement plans and your entire financial future. In this episode, spitball on dealing with these realities. What financial strategies can they suggest for William and his 33-year-old wife, who has metastatic breast cancer? Debbie and Emily each experienced the unexpected sudden passing of their partners. Is it possible to minimize the capital gains tax on Debbie’s son’s inheritance, and can Emily retire in a year? Josie has lousy longevity in her family and wants to plan for the worst-case scenario of dying before her husband. Alfred is 81 and concerned that he’s going to run out of money before he runs out of time, and Richard has a sobering story that changed his thoughts about when to collect Social Security. Finally, Irene is subject to the Government Pension Offset (GPO) – can she withdraw the money she paid into Social Security?
2023
Explore strategies for maximizing your Social Security payments based on your situation, whether you’re married, have children, or are eligible for survivor benefits. Pure’s Financial Planner, Maxwell Hacker, CFP®, reviews potential benefits providing insights into retirement planning and preparing for unforeseen circumstances. He’ll cover: Benefits for Your Spouse Benefits for Your Children Survivor Benefits FREE […]
2023
Are you considering working during retirement and uncertain about its impact on your Social Security benefits? Pure’s Financial Planner, Ryan Miiller, CFP® , AIF®, explains the details of benefit calculations both before and after reaching full retirement age. Gain a better understanding of how your decisions today can shape your financial future. FREE GUIDE | […]
2023
Planning for retirement is a crucial part of securing your financial future. Deciding the ideal age to start receiving Social Security can affect the monthly benefit you will receive for the rest of your life and may affect protection for your survivors. Pure’s Financial Planner, Rachel Füss, CFP®, AIF®, will guide you through strategies to […]
2023
YMYW listener Alan feels that there are two unspoken assumptions that many different podcasters make when it comes to claiming Social Security benefits. Today on Your Money, Your Wealth® podcast 437, Joe Anderson, CFP® and Big Al Clopine, CPA spitball on those assumptions, along with safe retirement withdrawal rates before and after Social Security and pension for Rick and Jen, and a thrift savings plan (TSP) and Social Security retirement strategy for Theresa. Plus, Mark and his wife are semi-retired at 51 and 44. Are they going to run out of money? Where should Mary be saving for retirement, and how should she handle large Roth conversions before required minimum distributions (RMDs) kick in?
2023