482 episodes

A "Top 10 Personal Finance Podcast" and "Top 12 Retirement Podcast" (US News & World Report, 2023). One of the "10 Best Personal Finance YouTube Channels" (CardRates, 2023). “Best Retirement Podcast With Humor” (FIPhysician, 2020, 2021, 2022, 2023). Learn strategies that can help you retire successfully. Financial advisor Joe Anderson, CFP® and certified public accountant Big Al Clopine, CPA are making fun out of finance as they answer your money questions and spitball on your 401k, IRA, Roth conversions and backdoor Roth IRA, how to pay less taxes, asset allocation, stocks and bonds, real estate, and other investments, Social Security benefits, capital gains tax, 1031 exchange, early retirement, expenses and withdrawals, and more money and wealth management strategies. YMYW is retirement planning, investing, and tax reduction made fun, presented by Pure Financial Advisors - a fee-only financial planning firm. Pure Financial adheres to the fiduciary standard of care, in which we are required by law to act in the best interest of our clients at all times. Access free financial resources and episode transcripts, Ask Joe & Big Al On Air to get your Retirement Plan Spitball Analysis: http://YourMoneyYourWealth.com

Your Money, Your Wealth Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

    • Business

A "Top 10 Personal Finance Podcast" and "Top 12 Retirement Podcast" (US News & World Report, 2023). One of the "10 Best Personal Finance YouTube Channels" (CardRates, 2023). “Best Retirement Podcast With Humor” (FIPhysician, 2020, 2021, 2022, 2023). Learn strategies that can help you retire successfully. Financial advisor Joe Anderson, CFP® and certified public accountant Big Al Clopine, CPA are making fun out of finance as they answer your money questions and spitball on your 401k, IRA, Roth conversions and backdoor Roth IRA, how to pay less taxes, asset allocation, stocks and bonds, real estate, and other investments, Social Security benefits, capital gains tax, 1031 exchange, early retirement, expenses and withdrawals, and more money and wealth management strategies. YMYW is retirement planning, investing, and tax reduction made fun, presented by Pure Financial Advisors - a fee-only financial planning firm. Pure Financial adheres to the fiduciary standard of care, in which we are required by law to act in the best interest of our clients at all times. Access free financial resources and episode transcripts, Ask Joe & Big Al On Air to get your Retirement Plan Spitball Analysis: http://YourMoneyYourWealth.com

    Happily Ever After in Retirement? | YMYW Extra - 3

    Happily Ever After in Retirement? | YMYW Extra - 3

    Cinderella and her Prince Charming have a nest egg of $2.3 million and are hoping for retirement income of up to $150K/year. When can they afford to retire? How should they coordinate paying for some big purchases, paying off debt, and collecting Social Security benefits as they plan for retirement?
    While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, YMYW producer Andi Last enlists the help of senior financial advisor Jack Dugan, CFP®, from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in San Diego, to spitball on whether Cindi and her prince can live "happily ever after" on YMYW Extra number 3. Free financial resources and transcript: https://bit.ly/ymywe-3
    Watch the video of this spitball! https://youtu.be/zmmCuxEsHiA 
    Retirement Income Strategies Guide - free download
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    YMYW Extra on YouTube | Guides | Blogs | Educational Videos | YMYW Newsletter
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    Timestamps:
    00:00 - Intro
    02:28 - Cinderella and Prince Charming's Cars, Drinks & Pets
    03:38 - How Much Retirement Income Can They Realistically Expect?
    14:05 - How to Pay Off Major Purchases?
    15:35 - Other Retirement Savings Strategies

    • 17 min
    Spitballing Retirement During the Expensive Kid Years

    Spitballing Retirement During the Expensive Kid Years

    Market declines just before you retire, or early in your retirement, can really screw up your retirement income strategy. If you’re in the middle of the expensive kid years, how do you avoid this sequence of returns risk when making your retirement plans? That’s “Jaclyn Smith’s” question, today on Your Money, Your Wealth® podcast 485 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, can Vern’s wife collect Social Security at age 63, then switch to spousal benefits at age 70? Matt wants to know if 2026 catch-up Roth contributions will be subject to the pro-rata rule, and Tom and Amy are trying to figure out how to avoid Medicare’s monthly income-related adjustment amount, or IRMAA, in their plan for Roth conversions. Free financial resources and transcript: https://bit.ly/ymyw-485
    How to Build a Recession-Proof Portfolio - YMYW TV
    Recession Protection Guide - free download
    The Election is Coming: Should You Sell? - read the blog
    Investment Vehicle Selection: SMA vs. ETF vs. Mutual Fund – Which One Best Fits You? - read the blog
    Is Roth IRA Money Taxed Twice? Watch the latest YMYW Extra
    Schedule a free financial assessment
    Ask Joe & Big Al for your Retirement Spitball Analysis
    Timestamps:
    00:00 - Intro
    00:49 - How to Minimize Sequence of Returns Risk When Spitballing Retirement in the Expensive Kid Years? (Jaclyn Smith)
    17:18 - Collect Social Security Early at Age 63, Then Switch to Spousal Benefits at Age 70? (Vern, Beautiful Portland Oregon)
    23:30 - Will 2026 Catch-Up Contributions to Roth Be Subject to Pro-Rata Rule? (Matt, TX)
    23:47 - Should We Do Roth Conversions? What About Medicare IRMAA? (Tom & Amy, Northern MN)
    31:51 - The Derails

    • 33 min
    Roth Conversions vs. Required Minimum Distributions

    Roth Conversions vs. Required Minimum Distributions

    Should Mike in Virginia keep using his IRA money to pay the tax on his Roth conversions? How do you do a Roth conversion when you don’t have the money to pay the tax? That’s PeterLemonJello’s question, but is it the question he should be asking? Spitballing Roth IRA conversion strategies to reduce your taxable required minimum distributions (RMD) in retirement - that’s today on Your Money, Your Wealth® podcast 484 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Susan and Mike in Ohio are retired, in the 24% tax bracket, and considering converting $50k or $75k to Roth - should they do it? How is D-Rock and Matilda’s strategy for selling rental properties and doing Roth conversions as they bridge the gap to early retirement? And finally, how do required minimum distributions work on inherited Roth accounts? Free financial resources and transcript: https://bit.ly/ymyw-484
    Navigating Your Financial Future Single - YMYW TV
    Going Solo Guide - free download
    Asset Location & Roth Conversion Retirement Spitball - YMYW Extra Ep. 1
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    Timestamps:
    00:00 - Intro
    00:54 - How to Pay the Tax on a Roth Conversion: Are You Asking the Right Question? (Peter LemonJello, FL)
    05:45 - Should I Keep Doing Roth Conversions and Paying Tax from the IRA? (Mike, VA)
    14:24 - Retired, in the 24% Tax Bracket. Should We Convert $50-$75K to Roth in 2024? (Susan, OH)
    18:28 - Roth Conversions and Selling Rental Property to Bridge to Early Retirement (D-Rock & Matilda, New York)
    28:11 - Required Minimum Distributions for Inherited Roth IRAs Explained (Elisa, Fremont)
    34:12 - The Derails

    • 38 min
    Asset Location & Roth Conversion Retirement Spitball | YMYW Extra - 1

    Asset Location & Roth Conversion Retirement Spitball | YMYW Extra - 1

    Sunshine in Orange County has been waiting patiently since January for a full Retirement Spitball Analysis: how are her assumptions for rates of return and inflation, her plans for Roth conversions, her asset allocation and asset location, her tax planning, her retirement income and retirement spending plans, and so much more? What missed opportunities is she overlooking?
    So many excellent Retirement Spitball requests have come in that Your Money, Your Wealth® hosts, Joe Anderson CFP®, and Big Al Clopine CPA can't handle them all. 
    On these bonus episodes, called YMYW Extra, producer Andi Last enlists the help of the experienced professionals on Joe and Big Al's team at Pure Financial Advisors. In today's YMYW Extra number 1, thanks to David Cook, CFP® from Pure Financial's San Diego headquarters, Sunshine finally gets her Retirement Spitball Analysis. Free financial resources and transcript: https://bit.ly/ymywe-1
    Request your own Retirement Spitball Analysis
    EASIretirement.com - free retirement calculator
    Why Asset Location Matters - download the free guide
    More Guides | Blogs | Educational Videos | YMYW Newsletter
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    Timestamps:
    00:00 - Intro
    02:35 - Rate Assumptions
    05:58 - Retirement Spending
    06:54 - Retirement Income Strategy
    12:08 - Retirement Planning: Asset Allocation vs. Asset Location
    15:50 - Sequence of Returns Risk
    17:53 - Social Security Tax Torpedo
    20:01 - Goals & Questions
    22:50 - Other Strategies: Qualified Charitable Distributions
    24:23 - IRMAA & Tax Optimization
    26:37 - Likelihood of Success & DIY Tools

    • 30 min
    Slopes Vs. Suits: How Couples Bridge the Retirement Gap

    Slopes Vs. Suits: How Couples Bridge the Retirement Gap

    Are women better investors and financial planners? Today on Your Money, Your Wealth® podcast 483 with Joe Anderson, CFP® and Big Al Clopine, CPA, three different husbands want to retire, while their wives feel they need to work longer. Can Jack and Diane, Mark and Belle, and Mike and his wife hit the slopes now, or do they need to keep wearing their suits? Joe and Big Al spitball on who’s right. Plus, should Ellie take her pension in a lump sum or in monthly annuity payments? The fellas also consider a solo 401(k) strategy for self-employed types from our buddy Will. Free financial resources and transcript: https://bit.ly/ymyw-483
    Withdrawal Trap Doors: How to Avoid Them - Watch YMYW TV
    Withdrawal Strategy Guide - free download
    Subscribe to YMYW on YouTube - comments are now open!
    Ask Joe & Big Al On Air for a Retirement Spitball Analysis
    Schedule a Free Financial Assessment
    Timestamps:
    00:00 - Intro
    00:40 - Can We Retire Now or Do We Need to Wait a Few Years? (Jack & Diane, Houston - voice)
    09:35 - How to Bridge the Gap in Early Retirement? (Mark & Belle, VA)
    19:44 - Help Me Convince My Wife to Retire This Summer! (Michael, MN)
    26:28 - Should I Take the Pension Lump Sum or Monthly Annuity Payments? (Ellie, PA)
    31:52 - How’s My Solo 401(k) Contribution Strategy? (Will)
    36:51 - The Derails

    • 38 min
    FDIC vs. SIPC, Annuities, SSDI & Early Retirement Strategies

    FDIC vs. SIPC, Annuities, SSDI & Early Retirement Strategies

    Will building a new home delay Janelle's early retirement? Can Mike and his wife retire early at ages 50 and 55, and how much should they convert to Roth? Maria and her partner keep their finances separate - can Maria cover her own expenses in early retirement? That’s today on Your Money, Your Wealth® podcast 482 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, the fellas explain the difference between FDIC insurance and SIPC insurance for Edward, who wonders if he should spread his assets between banks for protection. Fajita Willy needs a spitball on his MYGA retirement strategy, that is, multi-year guaranteed annuities. Nancy wants to know if mandatory seismic retrofit expenses are tax-deductible. And how should Lee manage Roth contributions and IRMAA now that his Social Security disability has finally been approved and he’s received 5 years of back pay? Free financial resources and transcript: https://bit.ly/ymyw-482
    Retirement Readiness Guide - free download
    EASIretirement.com - free retirement calculator
    Financial Planning at Every Age: Retirement Planning for Millennials, Gen-X, and Baby Boomers - YMYW TV
    Ask Joe & Big Al On Air for your Retirement Spitball Analysis
    Schedule a free financial assessment
    Timestamps:
    00:00 - Intro
    01:02 - Will Building a New Home Delay My Early Retirement? (Janelle, CO - voice)
    07:35 - Should I Spread Assets Between Banks for FDIC Insurance? (Edward, IL)
    13:16 - Multi-Year Guaranteed Annuity (MYGA) Retirement Spitball (Fajita Willy, TX)
    21:09 - Is the Mandatory Seismic Retrofit Expense Tax-Deductible? (Nancy, Tarzana, CA)
    22:47 - My SSDI Was Approved and I’ve Received 5 Years of Back Pay. How to Manage Roth IRA Contributions and Medicare IRMAA? (Lee, Jacksonville, FL)
    28:33 - Can We Retire Early Next Year at Ages 55 and 50? How Much Should We Convert to Roth? (Mike, NY)
    34:57 - My Partner and I Maintain Separate Finances. Can I Cover My Own Expenses in Early Retirement? (Maria, Chicago suburbs, IL)
    42:06 - The Derails

    • 43 min

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