Your Money, Your Wealth

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Michael, K & J, and Tracy all need retirement spitballs and Roth conversion plans, but they didn't share one of the most important numbers in retirement planning: how much they actually want to spend. Today on Your Money, Your Wealth® podcast number 592, Joe Anderson, CFP® and Big Al Clopine, CPA reverse-engineer their spitballs to back into what might be the same numbers missing from your own plan. Plus, Sean wants to retire in two years at age 56 with $4.4M without handing half of it to the tax man, and Dallas and Leeloo are wondering if there's such a thing as too much Roth - they’re 48 and on track for $1M in theirs. Plus we’ll talk about some charitable giving strategies: what's the difference between a DAF and a CRUT?
Free Financial Resources in This Episode:
https://bit.ly/ymyw-592 (full show notes & episode transcript)
9th Annual YMYW Podcast Survey (password ymyw):
https://www.surveymonkey.com/r/ymywpodcast2026
Is There a Formula for Retirement? - YMYW TV:
https://purefinancial.com/ymyw/episodes/is-there-a-formula-for-retirement/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep592-description-tv-s10e09
Financial Blueprint (free, self-guided):
https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep592-description-blueprint
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Chapters:
00:00 - The 9th Annual YMYW Podcast Survey is now open!
00:44 - Intro: This Week on the YMYW Podcast
01:39 - Working Until 70 With $6.5M Saved. Do I Need Roth Conversions? (Michael, Pittsburgh, PA)
09:25 - How Aggressively Should We Drain Our $2.6M IRA Before RMDs Hit? (K & J, the Cascades)
16:46 - Can I Retire Single at 63 With $1.5M? (Tracy, 63, CA)
20:15 - I'm 54, Single, With $4.4M. How Do I Retire at 56 Without Getting Crushed on Taxes? (Sean, Orlando, FL)
29:22 - How Much Roth is Too Much? We're 48, Heading for $1M in Roth. Did We Overshoot the Goal? (Dallas & Leeloo, 48, Brooklyn, NY)
36:15 - You Said CRTs Must Leave 10% to Charity. Let Me Correct the Record. (DG)
38:21 - DAF vs. CRUT: Which Charitable Tool is Better for $1M Company Stock That's Up 237%? (Fish Sean, 54, Winter Springs, FL)
44:22 - Outro: Next Week on the YMYW Podcast

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B and S in Maryland are in their mid-40s with $425,000 and a couple of rental properties. Can they retire early at 62? Vee in Oregon came to the US as a refugee with nothing and built a three and three-quarter million dollar portfolio from the ground up. Is his Roth conversion plan solid? And finally, Chandler and Monica in Texas are sitting on $1.4 million and hope they can walk away from work in 3 years. Will Roth conversions keep the tax man from taking a giant bite on their way out? That’s all today on Your Money, Your Wealth® podcast 591 with Joe Anderson, CFP® and Big Al Clopine, CPA.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-591 (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-ep591-description-whitepaper
The Number One Spending Mistake Ruining Retirements - YMYW TV
https://purefinancial.com/ymyw/episodes/number-one-spending-mistake-ruining-retirements/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep591-description-tv-s12e01
Financial Blueprint (free, self-guided):
https://bit.ly/YMYWblueprintC
REQUEST your Retirement Spitball Analysis:
https://bit.ly/YMYWaskC
DOWNLOAD more free guides:
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READ financial blogs:
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WATCH educational videos:
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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:
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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
00:57 - Half a Million and Rental Properties in Our Mid-40s. Can We Retire Early? (B & S, Westminster, MD)
12:48 - Refugee to $3.75M: Is My Roth Conversion Plan Actually Solid? (Vee, OR)
25:55 - Can Friends with $1.4M and a Roth Conversion Puzzle Retire in 3 Years? (Chandler & Monica, TX)
33:05 - Outro: Next Week on YMYW Podcast

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Today on Your Money, Your Wealth® podcast 590, Joe Anderson, CFP® and Big Al Clopine, CPA spitball for people with a small fortune sitting in pre-tax accounts turning into a tax bomb. We’ll find out how Roth conversions and careful tax liability management can optimize their retirement income strategy. Eric in California is 72 with nearly four million dollars in pre-tax accounts. How much should he transfer in Roth conversions? Is borrowing against his own house to pay the tax bill brilliant or bonkers? Rick and Kiani hoping they can quit sooner than they think. Mike just hit full retirement age. Should he claim Social Security benefits now or wait until age 70? And finally, Jeff wants to walk away at 59 with a roadmap for aggressive Roth conversions, assuming the tax cliff doesn't get him first.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-590 (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-ep590-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-ep590-description-blueprint
Retirement Checklist: Check Off These 7 Things Before You Retire - YMYW TV:
https://purefinancial.com/ymyw/episodes/retirement-checklist-check-off-these-7-things-before-you-retire/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep590-description-tv-s12e05
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:
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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:
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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 - $3.9M Pre-Tax at 72: How Do We Minimize Taxes Before RMDs Hit? (Eric, CA)
11:13 - We’re on One Salary. Can We Retire at 62 With $1.7M and a $56K SS Benefit? (Rick & Kiani, Southern CA)
23:16 - Just Hit Full Retirement Age. Should I Delay Social Security or Start Now? (Mike, 66, NV)
31:04 - Retiring With $4M and a Roth Conversion Roadmap at Age 59. Does Our Plan Hold Up? (Jeff & Amber, 55, Orlando, FL)
44:54 - Outro: Next Week on the YMYW Podcast

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The margin loan debate continues today on Your Money, Your Wealth® podcast number 589. Jack and Jill recently moved from the UAE to Australia and want a sanity check on using margin loans (AKA pledge loans) to build and live off their portfolio. Joe and Big Al spitball whether borrowing against stocks and never paying tax on the gains, the Buy Borrow Die strategy, is smart, or a fast way to blow yourself up. They also recap the spicy comments on the episode 585 margin loan discussion. Then the fellas flip the script for Forest and Jenni in Virginia: does a reverse glide path, investing conservatively now and getting more aggressive as you age, actually hold up? And finally, Jack and Diane in New Jersey are retiring this year, selling the house, and moving to Florida, so Joe and Big Al stress-test their Roth conversion plan before they pull the trigger. We're making fun of finance over here on YMYW, the financial planning podcast that won't put you to sleep. Tell a friend.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-589 (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-ep589-description-whitepaper
Retirement Sabotage! 12 Post-Retirement Money Mistakes to Avoid - YMYW TV: https://purefinancial.com/ymyw/episodes/retirement-sabotage-12-post-retirement-money-mistakes-to-avoid/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep589-description-tv-s10e08
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
01:53 - Margin Loans, Buy-Borrow-Die, and PFIC Risk: Sanity Check (Jack & Jill, Australia)
13:11 - Why I Love Margin: NYC Tax Math (Bones1999, YouTube)
14:29 - 8% Margin Loans to Buy Stocks: Bad Math! (Tom, YouTube)
19:39 - Reverse Glide Path at Retirement: Does Starting Conservative Make Sense for Us? (Forest & Jenni, VA)
35:43 - Retiring to Florida: SEP IRA Bridge, Home Sale Timing, and Roth Conversions (Jack & Diane, NJ)
43:18 - Outro: Next Week on the YMYW Podcast

Schedule a Free Financial Assessment with an experienced professional:
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Joe Anderson, CFP® and Big Al Clopine, CPA spitball for three people planning for early retirement and wondering, can I really pull this off? How much risk can you take, and how much do you really need to? That’s today on Your Money, Your Wealth® podcast 588. Dr. Kickass Seabass and his wife are both 41 and they got a late start on savings. Can they still hit FIRE - that is, financial independence, retire early - by 55? Get your salt shakers ready. Aang and Katara have military pensions and a big thrift savings plan. Should they invest it aggressively or play it safe over the next decade? Finally, Steph has a mandatory retirement at 56 but wants out even sooner, at age 50… if his wife Ayesha doesn't kill him first for quitting seven years before her.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-588 (full show notes & episode transcript)
Retirement Income Strategies Guide - free download:
https://purefinancial.com/white-papers/retirement-income-strategies/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-retirement-income-strategies&utm_content=ymyw-pod-ep588-description-whitepaper
Financial Planning at Every Age: Retirement Planning for Millennials, Gen-X & Baby Boomers - YMYW TV:
https://purefinancial.com/ymyw/episodes/financial-planning-at-every-age-retirement-planning-millennials-gen-x-baby-boomers/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep588-description-tv-s10e7
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-ep588-description-whitepaper

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
01:00 - High-Earning Doc With a Late Start: Can I Actually FIRE at 55? (Kickass Seabass, NJ)
13:39 - Military Pension + TSP: How Aggressive Should We Stay for the Next Decade? (Aang & Katara, VA)
25:10 - Mandatory Retirement at 56, But Can I Punch at 50? (Steph & Ayesha, SF Bay Area)
46:54 - Outro: Next Week on the YMYW Podcast