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Before she retires next month at age 52, Rowan in Georgia wonders how to maximize growth in her IRA, which will be funded with 72(t) early retirement withdrawals. What do Joe Anderson, CFP® and Big Al Clopine, CPA think of her substantially equal periodic payment plan? And how should she allocate it? Michael in Virginia isn’t interested in any international investments and is instead invested in stocks like Google, Amazon, Microsoft, Meta, and Berkshire. What adjustments would the fellas make to his portfolio for long-term growth? That’s today on Your Money, Your Wealth® podcast 533. Plus, our friend Will, who is not a gas siphoner, wants Joe and Big Al’s opinion on “backdoor Rothing” his solo 401(k) instead of having an emergency fund, and on what he should do with his annuity. Also, the fellas explain ESOP and NUA – that is, employee stock ownership plans and net unrealized appreciation – for Tess and Finn in Texas.
What should you do when the asset allocation of your retirement portfolio drifts? Joe and Big Al spitball on rebalancing for DJ in St. Louis. Plus, Coach Dobber in Minnesota is curious about municipal bonds in a brokerage account, and Daniel in Stevensville, Michigan needs details on emergency funds. Also, can Tim the Enchanter do a Roth conversion and avoid the “nasty, big pointy teeth” of capital gains tax? Duke in upstate New York told his wife they need 6 million dollars in retirement, and she said he was silly. What say Joe and Al? We’ll find out.
The word “taxes” may not be on 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 […]
Should Nancy in Washington take out a 401(k) loan and invest it in her brokerage account to catch up on saving for her retirement? When Joe and Big Al talk about having a balanced portfolio of various asset classes like stocks and bonds, Brian in Naperville, Illinois wonders whether that asset allocation strategy considers the stabilizing effect of monthly Social Security payments. Plus, Joy and her brother each have a $400,000 inheritance. How should they each invest it for their very different financial situations? Mike in Colorado has a good guaranteed income stream, so what should he do with the money he’s drawing from his taxable IRA every year – convert to Roth, put it in a brokerage account, go on a cruise? And finally, Skipper asks the fellas to spitball on whether he should do Roth conversions or take advantage of zero percent capital gains tax rates.
What are the benefits and differences between exchange-traded funds and mutual funds? Mike in Colorado wants to know. How should Lauren in Florida approach the fixed-income portion of her investment portfolio? Would a balanced fund be good for asset allocation in the decumulation phase for DJ in Missouri? Plus, Karen wants to make a one-time roulette investment. Should she hire a broker or do it herself? But first, something for YMYW’s legion of Old-Fashioned drinkers: find out how you can put your money where your mouth is with our special guest Jeremy Kasler, the founder and CEO of CaskX, making investing in whiskey and bourbon more accessible and transparent for investors.
Careful planning during the Retirement Risk Zone is critical for a healthy financial future. Pure’s Financial Advisor, Jeff Wille, CFP®, AIF®, describes what the Retirement Risk Zone is, why it matters, and what you can do to protect your hard-earned savings during this crucial stage. Transcript When it comes to retirement planning, many people focus […]
What is the risk with BDCs, or business development company funds? Edward in Illinois wants to know. Do Pebbles and Bam Bam in Kentuckystone have too much invested in T-bills? Are mutual funds or ETFs a better place for them to invest qualified money in the decumulation phase? Is there a difference between a traditional IRA and a rollover IRA? Keith in Connecticut is 34 and wants a spitball on whether his investments are appropriate for his time horizon. Plus, Gus in Philly needs a withdrawal strategy for his dad’s multi-year guaranteed annuities (MYGAs). Speaking of MYGAs, YouTube viewer Ken thinks everyone should invest in MYGAs and bonds, and nobody should ever pay a financial advisor. What do Joe and Big Al think? Finally, comments on your state of residence for tax purposes, the prorated sale of a primary residence, bonds vs. a pension, and focusing on PERMA – but what is it?
Updated for 2025: 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 […]
John in Pennsylvania doesn’t have bonds in his investment portfolio. Should he add them, and if so, where? The fellas also spitball on retirement plans for James in Tierrasanta, California, who has $4 million plus annuities, Esther in the San Francisco Bay Area, who has nearly $12M net worth, and Tiger and Lioness, who wonder about a safe level of lifestyle creep. Also, Charlie in Castlerock, Colorado asks Joe and Al to spitball on how to balance collecting Social Security with making withdrawals from his pre-tax retirement account for living expenses. Finally, a Worrywart Mom in Seattle wonders whether her 27-year-old daughter should focus on paying off her student loans or saving for the future.
TJ in Louisiana has been sitting on the sidelines, but now it’s time to get into the market. Should he dollar cost average, or just go all in? Does Margaret in CA’s idea of selling a stock at a loss and buying a put option on that stock that expires after the 30-day waiting period work as a tax loss harvesting strategy? When is it worth it for Brian in Charlotte, NC to diversify beyond a basic three-fund portfolio? Should Christine in San Diego convert her variable annuity to a fixed indexed annuity? How should Dean in Columbus, GA invest inherited retirement money? Are Jen and John in CA on track for retirement, and how should they fund their home remodel? Are there any negative consequences for Steve in PA if he finds a new financial advisor just a few months after hiring his current advisor? The fellas also talk through how Chris can give money to charity from his required minimum distributions (RMDs), and finally, Terry calls in with a follow-up question about whether a solo 401(k) is an option to avoid unrelated business income tax (UBIT).
What do Joe and Big Al think about alternative investments? Andrew in Ohio wants to know. Are real estate syndication deals for real, and a YMYW listener just chose poorly? And Stewart in Serra Mesa is curious whether Joe has changed his position on annuities lately, as rates have “normalized” in the past couple of years? Plus, when should Steve in Las Vegas’ friend quit her casino job and collect Social Security and child benefits? And how is D in the Midwest’s plan for creating income in retirement?
Employee Stock Purchase Plans (ESPPs) allow employees to buy company stock at a discount, fostering ownership and aligning interests with company performance. Pure’s Financial Advisor, Ian Barr, CFP®, helps you understand ESPPs’ mechanics, benefits, and key considerations so employees can maximize this benefit and manage their financial well-being. You will learn: Company stock discounts Tax […]
The stock market adage “Sell in May and go away” is based on the observation that the best-performing six-month rolling period historically occurs from November through April. During this time, average returns tend to outpace the subsequent six months (May to October). Investors are advised to sell their holdings in May, move into cash, and […]
Updated for 2024: The emotional aspect of investing can make or break your financial plan. Most people tend to let their emotions guide their investment decisions and admit investing is like riding an emotional roller coaster. Unfortunately, those emotions and biases can keep you from reaching your financial goals. In this guide, you’ll learn how […]
Linda is retired and financially independent. Her advisor suggests she have a separately managed account, specifically for tax loss harvesting. Joe and Big Al spitball on how to save as much tax as possible on retirement withdrawals. Plus, Brian wants to know if it ever makes sense to put IRA money into a brokerage account, rather than doing Roth conversions, so the fellas explain the benefits of tax gain harvesting. Also, why is Robert and Jane’s financial advisor constantly trading in Jane’s professionally managed account? Pete wants to know if flat-fee financial advisors are worth their fee, and Daniel needs financial guidance for his 34-year-old daughter. He’s also considering a free assessment, but he doesn’t really know what he’s getting himself into, so Joe and Al explain.
