Your Money, Your Wealth

"Carl and Jane" have eight million bucks, and their advisor is suggesting a 130/30 long-short investing strategy. Joe Anderson, CFP® and Big Al Clopine, CPA spitball on whether this is a smart tax move or unnecessary complexity - and whether they would do it themselves, today on Your Money, Your Wealth® podcast number 572. Plus, Tyrone and Tova think they may never even need their retirement accounts, so do they really need to bother with Roth conversions if the kids are going to inherit the money anyway, or could skipping the conversions mean losing half their retirement income to taxes? Mark in San Diego is juggling Roth conversions and Social Security timing without blowing up his tax bill, or the income-related monthly adjustment amount for Medicare, or net investment income tax. And "Boat Drinks" has a big non-qualified deferred compensation plan. How can he structure payouts before it turns into a tax nightmare - and before he potentially gets laid off?
Free Financial Resources in This Episode:
https://bit.ly/ymyw-572 (full show notes & episode transcript)
The Emotionless Investing Guide - free download
https://purefinancial.com/white-papers/emotionless-investing-guide/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-572 
The Ultimate Guide to Roth IRAs - free download
https://purefinancial.com/white-papers/roth-ira-white-paper/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-572 
The Truth About Your Love/Hate Relationship with Money - YMYW TV
https://purefinancial.com/ymyw/episodes/truth-about-love-hate-relationship-with-money/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-572 
 
Financial Blueprint (self-guided):
https://bit.ly/PureFinancialBlueprint 
Financial Assessment (Meet with an experienced professional):
https://bit.ly/PureFreeAssessment 
REQUEST your Retirement Spitball Analysis:
https://bit.ly/AskJoeAndAl 
DOWNLOAD more free guides:
https://bit.ly/PureGuides 
READ financial blogs:
https://bit.ly/PureFinBlog 
WATCH educational videos:
https://bit.ly/PureEdVideos 
SUBSCRIBE to the YMYW Newsletter:
https://bit.ly/YMYWNewsletter 
 
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
01:12 - Should Investors with $8M Use a 130/30 Long-Short Investing Strategy? (Carl Sandburg and Jane Addams, California)
12:42 - We'll Never Need Our Retirement Accounts. Should We Still Do Roth Conversions? (Tyrone and Tova)
27:18 - Roth Conversions vs. Social Security: Which Comes First? What About IRMAA and NIIT? (Mark, California)
38:16 - How to Structure Non-Qualified Deferred Compensation Payouts When a Layoff Might Be Coming? (Boat Drinks)
50:10 - Outro: Next Week on the YMYW Podcast

If you plan to punch the clock for the final time decades before "standard" retirement age, you need a financial strategy that goes beyond just saving. Joe Anderson, CFP® and Big Al Clopine, CPA spitball five different early retirement plans to see whose numbers are tight and who is ready to go for it, today on Your Money, Your Wealth® podcast 571. George in South Carolina wants to retire in 8 years at 53. Does he have enough in his brokerage account to bridge the gap to Social Security? Joe in Massachusetts is saving a staggering $200,000 a year, but will his high-spending lifestyle make a multi-million dollar nest egg look small? The fellas help 26-year-old Jonathan in Florida map out a path to retire in his 40s using his 457 plan, and they spitball on whether early exit strategies for both Kris and Rojo in California are a "green light" or a reality check. Plus, Joe explains why the "Rule of 55" and Roth conversions might be some of the most important tools in your early retirement toolbox.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-571 (full show notes & episode transcript)
Withdrawal Strategy Guide - free download:
https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-571
Long-Term Care Planning Guide - free download:
https://purefinancial.com/white-papers/long-term-care-planning-options/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-571
The #1 Spending Mistake Ruining Retirements - YMYW TV:
https://purefinancial.com/ymyw/episodes/number-one-spending-mistake-ruining-retirements/?utm_source=LibsynDestinations&utm_medium=podcast&utm_campaign=YMYW-571
Financial Blueprint (self-guided):
https://bit.ly/PureFinancialBlueprint
Financial Assessment (Meet with an experienced professional):
https://bit.ly/PureFreeAssessment
REQUEST your Retirement Spitball Analysis:
https://bit.ly/AskJoeAndAl
DOWNLOAD more free guides:
https://bit.ly/PureGuides
READ financial blogs:
https://bit.ly/PureFinBlog
WATCH educational videos:
https://bit.ly/PureEdVideos
SUBSCRIBE to the YMYW Newsletter:
https://bit.ly/YMYWNewsletter
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
01:06 - Is Retiring at 53 With No Pension a Smart Move or a Risky Bet? (George, South Carolina)
11:59 - High Income, High Spend, Early Retirement: Does the Math Still Work? (Joe, MA)
18:39 - At 26, Should I Go All In on a 457 to Retire Way Early? (Jonathan, Florida)
26:41 - Can I Retire Early and Still Cover Health Care and Long Term Care Costs? (Kris, California)
33:33 - I'm a Widowed Parent. Can I Retire at 57 and Still Fund College and Legacy Goals? (Rojo, California)
43:08 - Outro: Next Week on the YMYW Podcast

Joe and Big Al spitball two sides of the retirement equation, today on Your Money, Your Wealth® podcast number 570. Daniel in Texas is 40 and worrying about how to support Mom and Dad if their money runs out. Can he build some kind of financial safety net for them without ruining his own retirement? Jemma's 82-year-old mom is drawing down her portfolio. Is locking in guaranteed income with an annuity a smart move, or could that create new problems down the road? Plus, "Cookie and Gerry" want to walk away from work before 50 with a big brokerage account and a pension. Are they positioned correctly? How can they avoid pulling the wrong levers at the wrong time? And "Fred and Wilma" are staring at a potential multi-million-dollar ESOP payout. What levers do they need to pull so they can retire at 46 and shout "Yabba Dabba Doo"?
Free Financial Resources in This Episode:
https://bit.ly/ymyw-570 (full show notes & episode transcript)
10 Steps to Improve Investing Success - free download
What to Do When the Stock Market Gets Crazy - YMYW TV
Financial Blueprint (self-guided)
Financial Assessment (Meet with an experienced professional)
REQUEST your Retirement Spitball Analysis
DOWNLOAD more free guides
READ financial blogs
WATCH educational videos
SUBSCRIBE to the YMYW Newsletter
 
Connect With Us:
YouTube: Subscribe and join the conversation in the comments
Podcast apps: subscribe or follow YMYW in your favorite
Apple Podcasts: leave your honest reviews and ratings
 
Chapters:
00:00 - Intro: This Week on the YMYW Podcast
00:57 - Can I Afford to Be My Parents' Retirement Plan? (Daniel, Texas)
07:07 - Will an Annuity Really Save Mom From Running Out of Money? (Jemma)
15:07 - Can We Retire in Our Early 50s With a Pension and a $190K Spend? (Cookie and Gerry)
30:39 - Can We Retire Early at 46 With a $4M ESOP and a $210K Spend? (Fred and Wilma, CA)
44:23 - Outro: Next Week on the YMYW Podcast

When you're standing at a major financial crossroads, the timing of your decisions can mean the difference between success and failure. Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "when" of five retirement decisions, today on Your Money, Your Wealth podcast number 569. We'll kick things off with a whale of an email: "Fine and Dandy" is 42 years old with a multimillion dollar private equity offer on the table. Should he sell his business now or hold out for a second bite of the apple later? He also wonders if it's crazy to spend more on his vacation home than on his primary residence. David calls himself an "elderly orphan," flying solo at 66 and in need of a plan to protect his million-dollar portfolio as he ages. BB and Shell are trying to time their final year of retirement contributions to save as much as possible before moving to a lower-tax state. Should they go Roth IRA or traditional? Joel wonders when to take required minimum distributions from retirement accounts for the maximum tax benefit, and Brian in New York needs a spitball on when it makes sense to have an emergency fund as a retiree, and for how much.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-569 (full show notes & episode transcript)
Growing Your Wealth Guide - free download
Retirement Readiness Guide - free download
Retire at 62: Great Idea or Huge Mistake? - YMYW TV
Financial Blueprint (self-guided)
Financial Assessment (Meet with an experienced professional)
REQUEST your Retirement Spitball Analysis
DOWNLOAD more free guides
READ financial blogs
WATCH educational videos
SUBSCRIBE to the YMYW Newsletter
 
Connect With Us:
YouTube: Subscribe and join the conversation in the comments
Podcast apps: subscribe or follow YMYW in your favorite
Apple Podcasts: leave your honest reviews and ratings
 
Chapters: 
00:00 - Intro: This Week on the YMYW Podcast
01:09 - Should I Sell My Business or Wait? Is It Crazy to Spend More on My Vacation Home Than My Primary Residence? (Fine and Dandy, IL)
20:48 - Saving to Roth IRA vs Traditional IRA in the Final Year Before Retirement (BB and Shell)
23:50 - When to Take Your First RMD for the Maximum Tax Benefit (Joel, CA)
27:33 - Aging Alone in Retirement: How to Protect Assets Before Cognitive Decline (David, 68, Logan, NM)
35:37 - Why Some CPAs Cap Roth Conversions at $500K AGI (Shweta, CA)
37:05 - When Does It Make Sense for Retirees to Have an Emergency Fund - and How Much? (Brian, Albany, NY)
42:03 - Outro - Next Week on the YMYW Podcast

John Q. Taxpayer is in the home stretch of his career, looking for the best way to catch-up and build his tax-free bucket. Meanwhile, a pair of young financial nerds in Omaha are already strong savers, but they're wondering whether a simple "VOO for life" strategy is enough to help them reach multimillionaire status in retirement. Also, Janine retired unexpectedly. Can her remaining savings support a European retirement lifestyle? From Jonas Grumby's "glitch in the matrix" tax strategy to the potential tax nightmare of Dolly's literal sack of inherited gold coins, today on Your Money, Your Wealth® podcast 568, Joe Anderson, CFP® and Big Al Clopine, CPA. spitball on how folks from different generations with different situations can reach the same ultimate goal: positioning assets today to ensure the most tax-free wealth tomorrow. Plus, the fellas spitball on the "double taxation" trap of retirement plan loans for Pete in North Carolina, and the affordability of 50-year mortgages for Semper Fi in Michigan.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-568 (full show notes & episode transcript)
Why Asset Location Matters - free guide
All About Asset Location - more free resources
15 Maneuvers to Duck an Unplanned Early Retirement Knockout - YMYW TV
Financial Blueprint (self-guided)
Financial Assessment (Meet with an experienced professional)
REQUEST your Retirement Spitball Analysis
DOWNLOAD more free guides
READ financial blogs
WATCH educational videos
SUBSCRIBE to the YMYW Newsletter
 
Connect With Us:
YouTube: Subscribe and join the conversation in the comments
Podcast apps: subscribe or follow YMYW in your favorite
Apple Podcasts: leave your honest reviews and ratings
 
Chapters:
00:00 - Intro: This Week on the YMYW Podcast
01:05 - After-Tax 401(k) Catch-Ups vs Taxable Investing (John Q Taxpayer)
06:16 - Forced Early Retirement: Social Security and Roth Conversion Timing? (Janine, Bothell, WA)
11:30 - Are 50-Year Mortgages Actually Affordable? (Semper Fi, Stevensville, MI)
17:59 - 401(k) Loan vs Mortgage Payoff (Pete, NC)
21:27 - Can You Manufacture a Step-Up in Basis? (Jonas Grumby, The Colony, TX)
25:03 - Inherited Gold Coins and Capital Gains Taxes (Dolly, 63, TN)
29:35 - Spitball for Young Investors Who Don't Have Millions (Young Financial Nerds, Omaha, NE)
42:13 - Outro: Next Week on the YMYW Podcast