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If your portfolio is overweighted in one or two individual stocks, here are some ways to diversify those concentrated stock positions. Is using a donor-advised fund a good choice? Plus, how does the IRS know if a required minimum distribution is a qualified charitable distribution? From which pool of money should you pull extra retirement income? Also, structured notes, and paying Grandma for daycare without impacting taxes on her pension – lump sum or monthly payments? Finally, the fellas provide their thoughts on starting a career in financial planning.
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Questions answered about Roth 401(k) contributions and “Megatron” (that is, mega backdoor) Roth contributions for highly compensated employees, and the Roth conversion strategy of filling the tax bracket. Plus, moving a pension to an investment plan, owning real estate in a self-directed IRA, paying off the mortgage vs. refinancing, spousal vs. survivor Social Security benefits, rolling a whole life insurance policy to a variable annuity, and more.
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Choosing the pension lump sum or monthly payment: let it ride, roll it, or annuitize it? Plus, spitball analyses involving the 72(t) tax election, a donor-advised fund, 529 plans, and early retirement. Also, is growth on after-tax 401(k) contributions tax-free? How much of the portfolio should be in tax-free, taxable, and tax-deferred accounts? How does […]
Drilling down into the specifics of retirement distribution strategies: dollar cost averaging, pro-rata withdrawals, and buckets vs. the total return approach. Plus, a retirement withdrawal strategy with a side of pension and Social Security, another mortgage payoff question, the small business solo 401(k) trap, an LLC for a kayak side-hustle, and FIPhysician.com says nice things […]
Welcome to 2021! In this first episode of the year, Joe and Big Al go over estate planning strategies for CFP® candidate/Redditor Nate in SC, they do a spitball analysis for John in TN who wants to retire early, a retirement withdrawal and 529 plan strategy for Ace in TX, and a breakdown of pension […]
The YMYW Retirement Plan Spitball Analysis was so popular that it’s time for part 2! Where do Roth conversions, your primary residence, and rental real estate investment properties fit in your retirement plan? How much of your Social Security is taxed, and will taking your pension lump sum before taking Social Security have an impact […]
“The sooner we can understand the link between our money and how we spend our lives, the better.” Tanja Hester (called the Matriarch of the women’s FIRE movement by the New York Times) returns to YMYW to discuss the value of our time, how it’s connected to our finances, and the options financial independence provides […]
Back to investing basics with Matt Balderston, CFP® from Pure Financial Advisors: what makes for a wise investing philosophy while on the market volatility roller coaster? Plus, answers to your money questions: How do you find a financial fiduciary? How do you avoid people with bad financial intentions? What is a good investment policy statement? […]
Do you know what your income will be in retirement? Having a good estimate of your retirement income is needed to help you set goals for saving and knowing when you can quit your day job. A pension can be a big part of that formula. Financial professionals Joe Anderson and Alan Clopine discuss how […]
Ashley Patrick (former police detective and creator of BudgetsMadeEasy.com) explains how debit card fraud happens, what to do when your ATM card is compromised, and ways to avoid it happening in the future. Plus, Joe and Big Al answer your money questions: how do you determine a good pre-tax to Roth savings ratio? Are trading […]
Brian Portnoy, Ph.D., CFA® (author, The Geometry of Wealth) on the difference between being rich and wealthy, and how to achieve both. Plus, what about tax brackets? Joe and Big Al respond to a challenge of their critique of Ric Edelman’s critique of the Roth IRA. And they answer questions that stress the importance of […]
Nate Ritchison, CFP® outlines a few of the factors to consider when choosing between the lump sum payout or monthly annuity payments when collecting your pension – like other retirement income resources and assets, your life expectancy and family longevity, and the financial health of the pension plan and the company. Transcript: Recently, we received […]
Jefferson Lilly from Park Avenue Partners and the Mobile Home Park Investors podcast and LinkedIn group tells us why he thinks mobile home parks are the best real estate investment available. Plus, Joe and Big Al answer a whole slew of your money questions: what percentage of natural resources should be in your portfolio? How […]
Nationally recognized mutual fund, index investing and asset allocation authority Paul Merriman gives us the truth on market timing versus buy and hold – and he explains why he still does both. Plus, answers to your questions on collecting Social Security and a pension, non-deductible, Roth and SEP IRA rollovers, Backdoor Roth conversions, and are […]
Fewer and fewer people are able to count on having a pension in retirement. According to The Washington Post, 39% of private sector workers in 1980 had a pension. In 2015, only 15% of private sector workers could count on a pension for income during their retirement. So chances are you won’t be able to […]
