More
Joe Anderson, CFP® and Big Al Clopine, CPA spitball for three people planning for early retirement and wondering, can I really pull this off? How much risk can you take, and how much do you really need to? That’s today on Your Money, Your Wealth®...
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...
Joe Anderson, CFP® and Big Al Clopine, CPA spitball for YMYW listeners in their 40s who are ready to call it quits at work, become financially independent, and retire early. Can they afford to do it? Peter and Joanna want to retire in the next...
Joe and Big Al tackle the fears that mess with even the best-laid financial plans, today on Your Money, Your Wealth® podcast 552. Big Wallet Barbie and Ken from the Midwest have saved millions, but Barbie’s still worried about retiring early, buying a new house,...
Mike and his wife in Tampa are 39 and 36, they’ve got nearly a million bucks saved. Are they on track for retirement? Kate in California is 55 and hopes to retire in the next couple of years. How should she manage deferred compensation and...
YMYW listeners in their 40s are ready to call it quits at work, become financially independent, and retire early. Can they afford to do it? Peter and Joanna want to retire in the next two years. “Burned Out and Ready to Retire” wants out of...
With the new SECURE Act 2.0 rules regarding retirement savings contributions, should your company match go into the traditional or Roth 401(k)? Joe and Big Al also discuss whether you can or should do Roth conversions when your company fails non-discrimination testing for highly compensated...
Asset location strategies, liquidity, and building up tax-free Roth IRA money when retiring early, how growth is taxed in taxable accounts, the pros and cons of rolling an employer retirement plan into a traditional IRA, how stock futures are determined and why stock price matters,...
How to calculate your modified adjusted gross income (MAGI) for Medicare IRMAA, calculating your Social Security benefit when you’re planning to FIRE (that is, reach Financial Independence and Retire Early), calculating family Social Security benefits when you have minor children, and devising a strategy to...
You’ve had enough of the 9 to 5 and are ready to punch early. Are you financially prepared for a long and early retirement? Joe and Big Al provide a spitball analysis. And of course, the ever-popular Roth IRA conversions: how much to convert to...
Question: I got out of the market after the pandemic hit. How do I know when to get back in? – Mark, Vista Watch the full episode, FIRE: Financial Independence or Fad? Make sure to subscribe to our channel for more helpful tips and the latest episodes of “Your Money, Your Wealth.”
Question: I was on track to retire this year, but I’m concerned about retiring now. My retirement account balances are down, so I don’t want to pull out the money to live on. Can putting off retiring for a year or two make a significant impact on my overall retirement funds or am I overthinking […]
While the FIRE Movement is not for everyone, there are concepts that we all can take from it to improve our own retirement: Don’t Wait – Plan for Retirement Now Try to Reduce Your Expenses Try to Increase Your Income Save, Save, Save & Invest Watch the full episode, FIRE: Financial Independence or Fad? Make […]
Even though most people could benefit from the FIRE Movement concepts it’s important to mention some rather large risks and pitfalls with retiring early. You may not have enough money with life changes Your professional skills may be diminished if you try to re-enter the job market The stock market may have a prolonged downturn […]
One of the best ways to increase your savings rate is to control what you can control – your spending. Here are a few basic pillars of the FIRE movement. Let’s see if you’re up for these: Low-Cost Housing Buy Used Cars Minimize Eating Out Use Travel Rewards Tax Optimize Add Income with a Side […]
