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

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
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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

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
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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

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
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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

Should 70-year-old Bob live off of capital gains and dividends from his mutual funds plus Social Security, or should he sell poor-performing mutual funds for living expenses and reinvest the cap gains and dividends? Which account should Neal’s 76-year-old Mother use for living expenses? Should Neal and his wife fund their Roth 403(b) until retirement, or contribute to the regular 403(b) and then do Roth conversions after they retire? That’s today on Your Money, Your Wealth® podcast 481 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, the fellas spitball on whether IndyGuy can retire at 64 and Die With Zero, and Rod doesn’t want a spitball, but he’d like a dart on the wall as to whether his retirement savings will last until age 88. Free financial resources and transcript: https://bit.ly/ymyw-481
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Timestamps:
00:00 - Intro 00:48 - Living Expenses: Cap Gains, Dividends & Social Security or Poor Performers? (Bob, Jupiter, FL) 10:02 - From Which Account Should 76yo Mom Withdraw Living Expenses? (Neal, Dallas, TX) 18:11 - Dart on the Wall for Our Retirement to Age 88? (Rod) 26:08 - Can We Retire at 64 and Die With Zero? (IndyGuy) 35:50 - Save to Roth 403(b) or Traditional Until Roth Conversions at Retirement? (Neal, Dallas, TX) 42:54 - The Derails

Kyle and his fiancée are in their 30s, have done a great job saving, and are in a high tax bracket. Would it make more sense for them to contribute to their 401(k)s or Roth 401(k)s for retirement? Mick’s wife Pam has both W-2 and sole proprietor income - where should she save for retirement? That’s today on Your Money, Your Wealth® podcast 480 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, the fellas spitball for Janet on where junk bonds belong in a portfolio, they untangle the pro-rata and aggregation rules concerning 401(k) to Roth conversions for Nancy, and they spitball on whether Cary and Mark should retire now or work for two more years when pensions will provide them an extra $50K a year. Free financial resources and transcript: https://bit.ly/ymyw-480
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Timestamps:
00:00 - Intro 00:57 - We're in Our 30s and in a High Tax Bracket. Where Should We Save for Retirement? (Kyle, WI) 07:34 - Junk Bonds Explained (Janet, the Bronx) 13:19 - Does Pro-Rata Rule Apply When Converting 401(k) to Roth 401(k)? (Nancy, SE Wisconsin) 20:37 - We Have $4M. Should We Retire Now or in Two Years When Pensions Provide an Extra $50K/Year? (Cary & Mark, Los Angeles) 27:50 - How to Save for Retirement with Sole Proprietor and W-2 Work? (Mick, Davis, CA) 36:47 - The Derails

Linda is retired and financially independent. Her advisor suggests she have a separately managed account specifically for tax loss harvesting. Today on Your Money, Your Wealth® podcast 479, Joe Anderson, CFP® and Big Al Clopine, CPA spitball on how to save as much tax as possible on retirement withdrawals. Plus, Brian wants to know if it ever makes sense to put IRA money into a brokerage account, rather than doing Roth conversions, so the fellas explain the benefits of tax gain harvesting. Also, why is Robert and Jane’s financial advisor constantly trading in Jane’s professionally managed account? Pete wants to know if flat-fee financial advisors are worth their fee, and Daniel needs financial guidance for his 34-year-old daughter. He’s also considering a free assessment, but he doesn’t really know what he’s getting himself into, so Joe and Al explain. Free Financial Resources & Transcript: https://bit.ly/ymyw-479
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Timestamps:
00:00 - Intro
00:55 - Separately Managed Account for Tax Loss Harvesting To Optimize Retirement Withdrawals? (Linda, MD)
11:54 - Why is Our Advisor Constantly Trading in Our Professionally Managed Account? (Robert, GA)
18:00 - Are Flat-Fee Advisors Worth the Fee? (Pete, Knoxville, TN)
27:03 - Financial Planning for 34-Year-Old Daughter and Pure’s Free Assessment (Daniel, Whittier)
35:17 - Does Moving from IRA to Brokerage instead of Roth Ever Make Sense for Tax Gain Harvesting? (Brian, Albany, NY)
42:12 - The Derails