If you are like the majority of Americans, your financial health barely has a pulse, and the condition is worsening rather than getting better. With the money you have saved right now, at what age would you be able to retire? 65? 70? NEVER?! The doctors are in the house: Joe Anderson and Alan Clopine […]
Does the math work for Chris’ early retirement plan? What’s a safe retirement withdrawal rate for Luke, who wants to be part of the financial independence / retire early or FIRE movement? Plus, Jake is about to change jobs, can Joe and Big Al uncover any tax planning opportunities for him? The fellas also explain capital gains tax for our buddy Carl Spackler, they spitball on those capital gains when it comes to selling a house for Olga and for LJ, and Jim wonders about the impact of selling a house on Affordable Care Act subsidies.
Do you need to pull over and ask for directions on the road to retirement? Mile Markers along the highway let you know how much you’ve traveled and how much more you’ve got to go. When it comes to retirement, those Mile Markers can let you know if you are on track to retire comfortably… […]
Should Carl Spackler stick with his backdoor Roth strategy, or go for lower fees? Should Kevin go all Roth, or stick with his current three tax-diversified buckets strategy? (That depends – would he rather have $7 million tax-free, or $10 million in tax-deferred retirement accounts?) Can Lily claim all the extra allowances she can, to jam as much money as possible into her Roth? Can Dave retire now and ride his motorcycle into the Bavarian Alpine sunset, and does Peggy Lee need to be feverish about the tax underpayment penalty with her Roth strategy?
Steven has got “one more year” syndrome. Can he retire at age 65? Joe and Big Al spitball retirement for him, and for MB – can she and her husband live comfortably if she retires at age 59½? And for Johnny – does he have enough to fill the gap until retirement, and should his dad do Roth conversions before Johnny inherits his wealth? Plus, is Austin maximizing his future gains by saving to his 401(k) at age 29, rather than his Roth IRA? How can Mike and his wife leave their kids a lower tax bill when they pass?
Maximize your retirement by controlling taxes. Pure’s Financial Planner, Daniel Goldstein, CFP®, AIF®, provides insights into creating portfolio diversification and strategically locating assets to reach your long-term retirement goals. You’ll learn about: How the tax triangle can apply to your situation How retirement funds are being taxed now Where you are in our current tax code […]
Boost your monthly income in retirement by investing in residential real estate? Learn the pros, cons, and mistakes to avoid, things to consider before buying investment properties, rental real estate finances, and how to minimize taxes through real estate investments. Transcript: Andi: Hello and welcome and thank you all for joining us for this […]
It’s a common question: should you pay off your mortgage when you have extra cash, or invest for retirement? Joe and Big Al spitball on how Ms. Moneybags and her wife-to-be should use their upcoming windfall. Plus, what should Bob’s asset allocation be as he nears retirement? Should Harley and Harlene do Roth conversions after tax rates increase, and should they take advantage of net unrealized appreciation (NUA) on Harlene’s company stock? Pete needs a 13-year retirement plan sanity check, Lauren wants to know if she can retire early or at least go part-time, and Michael and Carol want the fellas to spitball whether they’re on track for retirement.
Joe and Big Al spitball five different retirement plans: Is Jaybird on track to retire with a decent nest egg? Should Ted and his wife use the retirement smile spending pattern and spend more early in retirement? Is it safe for Aaron to retire at age 59 and a half? How much can Karla convert to Roth for the most tax-efficient retirement withdrawal plan? LEO Jay has Roth TSP retirement strategy questions, and Lynn suggests a super-easy Roth conversion calculator – but Big Al’s got an even easier idea.
When you are investing, do you feel like you are on an emotional rollercoaster, careening from feelings of euphoria to depression? Most people admit they know they shouldn’t let their emotions drive their investment decisions, but when we see the highs and lows of the market, it can be difficult not to let our emotions […]
When you hear the word recession, what comes to mind: run for the hills, or golden opportunity? From bear markets to rising inflation, the conditions that create a recession can impact your investments and your ability to retire. If you make the wrong financial moves during a recession it can take decades for your portfolio […]
How much will money will you need in retirement, adjusted for inflation? Joe and Big Al spitball on your future dollars, how to calculate the tax on Roth conversions, and the benefits of converting to Roth when financial markets are down. Plus, should retirement savings contributions be half pre-tax and half post-tax? And finally, saving to a 529 plan for your kids, or sending them to Hollywood stunt training camp – which would you do!?
Are you navigating your financial future solo? When you’re single, life’s twists and turns can be more devastating than if you are building your wealth with a partner. Taking the helm solo requires special tools and strategies to help ensure you’ll reach your financial goals. Joe Anderson, CFP®, and Big Al Clopine, CPA, help to […]
Gidget wants to find her very own Moon Doggie so she can get married and reap that sweet, sweet capital gain exclusion when she sells her house. What do Joe and Big Al think, and can they help her find a man? Plus, is real estate a good investment for retirement income? Is taking out a TSP (thrift savings plan) loan to pay off your mortgage a good idea? Also, the fellas spitball a tax and ACA (Affordable Care Act) strategy, a FIRE strategy – well, financial independence, but not necessarily retire early – and they discuss capital gains taxes on RSUs (restricted stock units.)
When you shift from saving for retirement to spending in retirement, your financial strategies need to change… but your plan for retirement withdrawals could be full of trap doors! Do you what to look out for? Trapdoors can be hard to spot – you’re moving through life thinking you have got it handled, and then […]