Your Money, Your Wealth

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Joe Anderson, CFP® and Big Al Clopine, CPA are spitballing on whether Roth conversions actually pay off as part of your retirement tax strategies, today on Your Money, Your Wealth® podcast number 602. “Ozzie and Harriet” in Lafayette, Louisiana are 67, and Ozzie's spreadsheet says converting from their $7 million IRA costs more than just taking the RMDs. He challenges the fellas to change his mind. They also address BondBeer’s many YouTube comments telling them that their favorite guidance to convert when the market drops is flat wrong. Finally, Alan on Daufuskie Island, South Carolina asks for clarification on paying the tax to pay the tax when you pull money from an IRA, and whether it matters if the tax comes out of the account or out of your brokerage.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-602 (full show notes & episode transcript)
Retirement Accounts Guide - free download:
https://purefinancial.com/white-papers/retirement-accounts-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-retirement-accounts-guide&utm_content=ymyw-pod-ep602-description-whitepaper
Financial Blueprint - free, self-guided:
https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep602-description-blueprint
5 Years From Retirement? Do These Things Now - YMYW TV:
https://purefinancial.com/ymyw/episodes/last-5-years-before-retirement-decide-lifestyle/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep602-description-tv-s11e03
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https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254
Chapters:
00:00 - Intro: This Week on the YMYW Podcast
01:04 - Do Roth Conversions Actually Lose You Money? (Ozzie & Harriet, Lafayette, LA)
12:08 - Is a Market Downturn Really the Best Time for a Roth Conversion? (bondbeer, YouTube)
23:00 - Do You Pay Tax on the Tax? Roth Withdrawals vs. Roth Conversions Clarified (Alan, Daufuskie Island, SC)
28:04 - Outro: Next Week on the YMYW Podcast

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How do you know if you're really on track to retire, especially if you're hoping to get out early? Fred and Wilma in Denver are 33 and 31, earning a small fortune, but sitting on nearly two million dollars in debt. Should they focus on paying it down faster or saving more? Jeremy, in Summerville, South Carolina, is 42 with a hefty military pension. Is that his green light to go all-in on stocks for the next 20 years? And finally, Saver and Spender in Saratoga Springs, New York are 41 and 42 and hoping an early exit. Can part-time work can carry them through their gap years? Joe Anderson, CFP® and Big Al Clopine, CPA spitball for all of them, today on Your Money, Your Wealth® podcast number 601.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-601 (full show notes & episode transcript)
Ultimate Investing Guide - free download:
https://purefinancial.com/white-papers/the-ultimate-investing-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-ultimate-investing-guide&utm_content=ymyw-pod-ep601-description-whitepaper
Financial Blueprint - free, self-guided:
https://purefinancial.com/white-papers/the-ultimate-investing-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-ultimate-investing-guide&utm_content=ymyw-pod-ep601-description-whitepaper
$1M Retirement Savings: Is It Enough to Retire? - YMYW TV:
https://purefinancial.com/ymyw/episodes/will-your-money-last-through-retirement/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep601-description-tv-s10e16
REQUEST your Retirement Spitball Analysis:
https://bit.ly/YMYWaskC
DOWNLOAD more free guides:
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READ financial blogs:
https://bit.ly/YMYWblogC
WATCH educational videos:
https://bit.ly/YMYWvidsC
SUBSCRIBE to the YMYW Newsletter:
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Connect With Us:
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Leave your honest reviews and ratings in Apple Podcasts:
https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254
Chapters:
00:00 - Intro: This Week on the YMYW Podcast
01:01 - $1.8M in Debt at 33: Pay It Down or Keep Investing? (Fred & Wilma, Denver, CO)
17:07 - My $97K Military Pension: Can I Go 100% Stocks for 20 Years? (Jeremy, Summerville, SC)
26:49 - Can We Bridge Ages 56 to 62 With Part-Time Work? (Saver & Spender, Saratoga Springs, NY)
40:01 - Outro: Next Week on the YMYW Podcast
41:03 - The Derails: The Flintstones, Project Hail Mary

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63-year-old Kevin in Denver is pulling $100K a year out of his portfolio. What’s the tax-smart way for him to structure these retirement withdrawals? Tim in Pennsylvania was forced into early retirement, and his wife Jill may be facing a layoff. They have over $2.5M saved, but what about health insurance? And Rocky and Adrian in Tucson have $4M in pre-tax at ages 68 and 69. If they convert to Roth, are they just picking up nickels in front of a steamroller? But first, Jeffrey’s YouTube comment lit a fire when he called a recent episode of YMYW TV on Social Security claiming strategies "cookie-cutter with zero real info." Joe and Big Al have some thoughts!
Free Financial Resources in This Episode:
https://bit.ly/ymyw-600 (full show notes & episode transcript)
2026 Tax Planning Guide - free download:
https://purefinancial.com/white-papers/tax-planning-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-tax-planning-guide&utm_content=ymyw-pod-ep600-description-whitepaper
Withdrawal Strategy Guide - free download:
https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep600-description-whitepaper
Escape These 11 Tax Traps and Save in Retirement - YMYW TV:
https://purefinancial.com/ymyw/episodes/escape-these-11-tax-traps-save-in-retirement/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep600-description-tv-s10e17
Financial Blueprint (free, self-guided):
https://bit.ly/YMYWblueprintC
REQUEST your Retirement Spitball Analysis:
https://bit.ly/YMYWaskC
DOWNLOAD more free guides:
https://bit.ly/YMYWguidesC
READ financial blogs:
https://bit.ly/YMYWblogC
WATCH educational videos:
https://bit.ly/YMYWvidsC
SUBSCRIBE to the YMYW Newsletter:
https://bit.ly/YMYWnewsletterC
Connect With Us:
Subscribe on YouTube and join the conversation in the comments:
https://bit.ly/YMYW-YT
Subscribe or follow YMYW in your favorite podcast app:
https://lnk.to/ymyw
Leave your honest reviews and ratings in Apple Podcasts:
https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254
Chapters:
00:00 - Intro: This Week on the YMYW Podcast
00:54 - Claiming Social Security: Is Planning for a 40-Year Retirement a Waste of Time? (jeffreylevin9728, YouTube)
12:31 - How Do I Turn My IRA Into a Monthly Paycheck? (Kevin, Denver)
23:42 - I’m Retired Early Due to Illness and My Wife May be Laid Off. What About Health Insurance? (Tim & Jill, rural PA)
32:30 - Roth Conversions on a $4M IRA at 68: Picking up Nickels in Front of a Steamroller? (Rocky & Adrian, Tucson, AZ)
40:27 - Outro: Next Week on the YMYW Podcast
42:16 - The Derails: Frontier Crucible, The Punisher, Disclosure Day, etc.

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How do you buy a house as a young person, without wrecking your long-term retirement plan? That’s today on Your Money, Your Wealth® podcast 599, as Joe Anderson, CFP® and Big Al Clopine, CPA spitball for 35-year-old Gord in New York City. He's got $300,000 saved, and a home purchase is coming soon thanks to a new relationship. Should he liquidate his brokerage account and pull the trigger? Carrie Bradshaw in California is 33 and wants to buy a roughly $1.5M home. When should she move the down payment money out of the market, and can she avoid derailing early retirement? Finally, Archie and Veronica in Missouri are 41 and 34, pulling in $600,000 a year and saving close to $200,000 of it. Are they saving too much? Should they pay off their mortgage or keep investing?
Free Financial Resources in This Episode:
https://bit.ly/ymyw-599 (full show notes & episode transcript)
Financial Blueprint (free, self-guided):
https://bit.ly/YMYWblueprintC
10 Big Retirement Regrets to Avoid (Before It's Too Late) - YMYW TV:
https://purefinancial.com/ymyw/episodes/10-big-retirement-regrets-to-avoid-before-its-too-late/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep599-description-tv-s10e15
REQUEST your Retirement Spitball Analysis:
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DOWNLOAD more free guides:
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READ financial blogs:
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WATCH educational videos:
https://bit.ly/YMYWvidsC
SUBSCRIBE to the YMYW Newsletter:
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Connect With Us:
Subscribe on YouTube and join the conversation in the comments:
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Subscribe or follow YMYW in your favorite podcast app:
https://lnk.to/ymyw
Leave your honest reviews and ratings in Apple Podcasts:
https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254
Chapters:
00:00 - Intro: This Week on the YMYW Podcast
01:02 - I’m 35 in NYC. Do I Cash Out My ETFs to Buy a House? (Gord, NYC)
15:21 - How Much of My $900K Goes to the Down Payment? ("Carrie Bradshaw", CA)
24:12 - We Make $600K With a $1.1M Mortgage. Pay It Off or Keep Investing? ("Archie & Veronica", MO)
35:55 - Outro: Next Week on the YMYW Podcast

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Today on Your Money, Your Wealth® podcast 598, Joe Anderson, CFP® and Big Al Clopine, CPA spitball early retirement planning for Shua in Phoenix, who has a million dollars saved at age 42. Can he stop saving right now, coast until age 55, and still spend $170,000 a year in retirement? But first, Michael in Texas is a stay-at-home dad who does the stock market. His wife wants out of her job at age 47. Will their $5 million last through retirement? And then Homer and Marge in North Carolina make 640K in sales and want to spend up to 25K a month, and Seth in Illinois wants to retire at 58 on a pension and a Roth. Some of these plans work and some of ‘em aren't even close.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-598 (full show notes & episode transcript)
Withdrawal Strategy Guide - free download:
https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep598-description-whitepaper
Retirement Readiness Guide - free download:
https://purefinancial.com/white-papers/retirement-readiness-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-retirement-readiness-guide&utm_content=ymyw-pod-ep598-description-whitepaper
10 Assumptions Pre-Retirees Get Wrong About Retirement - YMYW TV:
https://purefinancial.com/ymyw/episodes/10-assumptions-pre-retirees-get-wrong-about-retirement/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep598-description-tv-s12e07
Financial Blueprint (free, self-guided):
https://bit.ly/YMYWblueprintC
REQUEST your Retirement Spitball Analysis:
https://bit.ly/YMYWaskC
DOWNLOAD more free guides:
https://bit.ly/YMYWguidesC
READ financial blogs:
https://bit.ly/YMYWblogC
WATCH educational videos:
https://bit.ly/YMYWvidsC
SUBSCRIBE to the YMYW Newsletter:
https://bit.ly/YMYWnewsletterC
Connect With Us:
Subscribe on YouTube and join the conversation in the comments:
https://bit.ly/YMYW-YT
Subscribe or follow YMYW in your favorite podcast app:
https://lnk.to/ymyw
Leave your honest reviews and ratings in Apple Podcasts:
https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254
Chapters:
00:00 - Intro: This Week on the YMYW Podcast
00:52 - Wife Wants to Retire at 47. What Are We Missing? (Michael, TX)
14:03 - $3M Saved, $640K Income: Can We Retire at 50? (Homer & Marge, Northern California)
21:19 - Pension + $1.45M: Can I Retire at 58 and Spend $11K a Month? (Seth, North Central IL)
26:51 - Can We Stop Saving Now at 42 and 45 and Still Retire at 55? (Shua, Phoenix, AZ)
36:07 - Outro: Next Week on the YMYW Podcast
37:19 - The Derails: Big Al Canoeing on the Russian River