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How do you shift from saving through your entire working life to spending and really living in retirement, while at the same time dealing the risks of inflation, rising healthcare costs, and things like tariffs? Jamie Hopkins is a CERTIFIED FINANCIAL PLANNER® professional, an attorney, and best-selling author of Find Your Freedom and Rewirement: Rewiring the Way You Think About Retirement. He returns to the show with insights on how to rewire your retirement plans. Plus, how should Fred and Ginger in Huntington Beach, California, pay for repairs on their rental properties? How can Peter Lemonjello manage taxes in his early retirement with 72(t) elections, rental income, and an installment sale? Can Calvin and Susie in Lancaster, Pennsylvania, buy an $800,000 beach house – and should they?
We’re revisiting your favorite Your Money, Your Wealth® topics and Derails of 2023 in this Roth and retirement investing mega-episode. Safe investing when you’re risk averse, mutual funds vs. ETFs, stable value funds, and estimating retirement income needs when you’re a young saver with a pension made the YMYW best of 2023 on the investing side. On the Roth side, what to do when there’s too much money in your traditional IRA, whether Roth conversions are really as good as they sound, and who’s right about the Roth conversion strategy, our listener or his advisor?
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 […]
How do you protect your nest egg when you’re really risk-averse and want safe, low-risk investments – should you invest in annuities, CDs? When choosing a money market fund, should you just invest in the one with the highest post-tax return? How do you go about replenishing cash, or rebalancing your portfolio, when the stock market is up? Plus, the widow’s penalty in relation to Roth conversions, and switching from survivor Social Security benefits to your own. Also – withdrawing from your portfolio before RMD age? One listener says nobody should ever need to do it!
When deciding whether to claim Social Security early, how do taxes figure into the analysis? If Social Security creates too much provisional income so that you have to pay tax on your Social Security benefits, does it make sense to claim Social Security early? If you apply for Social Security at age 70 and learn you could’ve taken spousal benefits for four years, are you owed that money? Plus, a listener takes issue with YMYW’s dollar-cost averaging discussion. But first, how long did the recovery from the 1929 stock market crash really take, and do higher yield investments early in retirement offset sequence of returns risk?
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Can your investment portfolio be over diversified? How do dividends and net unrealized appreciation (NUA) work? How will ownership inequality in the stock market impact future returns for most investors? What do Joe & Big Al think of target date funds? Plus, the YMYW podcast is now on video! Watch the fellas spitball on annuities, bonds, long-term treasuries, risk tolerance, the buckets of money investing strategy and the latest on the Roth provisions in the Build Back Better Act. Show notes, video clips, free resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-352
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Jonathan Clements (founder, HumbleDollar.com, former Wall Street Journal personal finance writer) on portfolio rebalancing, reducing risk and doing a Roth conversion. Plus, Joe and Big Al answer your money questions: when is the best time to get into the market? When is the best time to retire? Can you start a Roth IRA for your […]
Economist Dr. Allison Schrager, author of An Economist Walks Into a Brothel and Other Unexpected Places to Understand Risk, explains how the risk management techniques of surfers, prostitutes, magicians, and soldiers might relate to our own investing and retirement planning. Plus, does it matter which assets you withdraw first from your retirement portfolio? Joe and Al dive deep on this […]
Has your financial advisor, retirement account custodian or the brokerage firm where you hold your investments asked you for a “trusted contact person?” In this video, Matt Horsley, CFP® of Pure Financial Advisors explains what a trusted contact person is and how Pure Financial is helping to safeguard our clients’ finances. Transcript: Recently your financial […]
Todd Tresidder of FinancialMentor.com shares the surprising ways to reduce risk and increase returns as outlined in his new book, The Leverage Equation: How to Work Less, Make More, and Cut 30 Years off Your Retirement Plan. Joe and Big Al answer your money questions on real estate investing, buying a house with your 401(k) money, […]
We all understand that there’s risk in the world. Put simply, risk is the possibility of loss. As investors, we tend to focus solely on market risk. But there are many different types of risk. In this video, David Cook, CFP® of Pure Financial Advisors discusses not only market risk, but also longevity risk, inflation […]
Plenty of risks threaten retirement, and today we focus on managing risks from longevity, inflation, sequence of returns, taxes, interest rates, and lost opportunity. Plus, Professor Jamie Hopkins from The American College and the New York Life Center for Retirement Income talks about how our risky investor behavior needs Rewirement (which happens to be the title of […]
Marc Levinson, author of The Economist Guide to Financial Markets: Why They Exist and How They Work explains how understanding financial markets can help you make fewer investing mistakes and improve everything from your home to your job to your portfolio. Plus, what does Tax Reform 2.0 have in store for us? What to do […]
Can risk revolutionize your work? Best selling author, entrepreneur and co-host of the Bad Crypto Podcast, Joel Comm, talks about his new book, The Fun Formula: How Curiosity, Risk-Taking, and Serendipity Can Revolutionize How You Work. Show Notes (01:20) Should I Quit My Corporate Job to Be a DJ? (08:33) Joel Comm on The Fun Formula: How to […]
Why Risk Management is Important Risk Management is a term most frequently associated with large businesses due to its crucial importance for corporations. However, risk management activities are just as vital when it comes to personal finances. By definition, risk management is the process of understanding, analyzing and addressing potential risks to ensure objectives […]
