Your Money, Your Wealth Joe Anderson, CFP® & Alan Clopine, CPA

When should you take your pension, what types of things should you think about when it comes to deciding between a lump sum or a monthly annuity payment - risk protection, for example - and how do you work your pension into your overall retirement plan? Spitballing on retirement pension options, and saving to a taxable account when you’re concerned about required minimum distributions or RMDs, on today’s show.
Timestamps:
00:42 - When to Collect My Pensions: Now, Early Retirement, or Age 70? (Rose, CA) 12:16 - I’m Concerned About RMDs. Should I Save to a Taxable Account for Retirement? (John Doe, Seattle, WA) 17:33 - Pension Retirement Spitball: Are We On Track to Retire in 2032 Without Saving Any More? (Jennifer & Zeke, NY State) 25:32 - Roth 457 vs. Roth IRA and Pension Options Retirement Spitball (Clay, Westerville, OH - from episode 377) 35:39 - COMMENT: Pension Vs. Lump Sum Risk Protection (Stephen) 38:53 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-430 
Key Financial Data Guide Surviving Retirement Without a Pension - YMYW TV S4E17 Register for a free webinar: Navigating Retirement Solo, tomorrow, Wed. May 24, 2023, 12pm PT/3pm ET Episode Transcript Ask Joe & Big Al On Air

Can you convert your health savings account (HSA) to Roth, and do the five-year Roth withdrawal clocks apply? What should you do with money you’d been putting to your student loan debt if you’re part of the student loan forgiveness program? What’s the best way to invest your RMDs, or required minimum distributions? How does IRMAA, the income-related monthly adjustment amount for Medicare, apply to zero-coupon municipal bonds? And finally, strategies for collecting survivor Social Security benefits. 
Timestamps:
00:49 - Can I Convert a Health Savings Account HSA to Roth IRA and Do the 5-Year Rules Apply? (Philip) 07:49 - My Student Loans Were Forgiven. Now Should We Contribute to Roth 403(b)? (Pete, Winston-Salem, NC) 15:37 - How Should I Invest Required Minimum Distributions? (Judy, San Diego) 22:17 - How is IRMAA for Medicare Applied to Zero Coupon Municipal Bonds? (Jimmy) 26:40 - 62 and Widowed: Claim Survivor Social Security Benefits Until Age 67? (Mark, Burke, VA) 30:11 - Is Signing Up for Social Security Just Pretty Much Straight Forward? (Michael) 32:09 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-429 
Debt Ceiling and the US Dollar - new educational video Talking About Recessions - new blog post Medicare Check-Up Guide Episode Transcript Ask Joe & Big Al On Air

So you’re about to receive a large inheritance - what should you do with it? Joe and Big Al spitball on suddenly becoming $85 million dollars richer. Plus, is it nuts to semi-retire early? Should retirement contributions be split between Roth and traditional accounts? Can you do conversions to your kids’ custodial Roth accounts? The fellas also spitball tax bracket-based Roth conversion strategies to help you pay the least amount of tax possible, long term, and they discuss required minimum distributions on inherited assets, and whether to pay off a 401(k) loan if it’s “paying” you 8% per year.
Timestamps:
00:48 - I’m Inheriting Millions of Dollars. What Should I Do With It? (Michael, Binghamton, NY) 07:04 - Should I Split Retirement Contributions Between Roth and Traditional 457? (Kevin, Folsom, CA - voice) 11:34 - Should I Do 100% Roth TSP Contributions? Am I Nuts to Semi-Retire Early? (Derek, Seattle) 16:30 - Should We Do Roth Conversions to the Top of the 22% or 24% Tax Bracket? (Bill, Maryland) 23:53 - Is My CPA Correct That I Can Convert $24K to Roth Tax-Free? (Sam, Newark, NJ) 26:52 - Can I Convert 457 Money to My Kids’ Custodial Roth Accounts? (Brian, Binghamton, NY) 32:50 - RMD Rules for Inherited Roth IRA and Traditional IRA (Dan, Brick, NJ) 38:48 - Should I Pay Off My 401(k) Loan That’s “Paying” Me Over 8% Per Year? (Anon, Denver, CO) 42:59 - Comments on Keeping Employer IRA Money Separated 44:46 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-428 
Complete Roth Papers Package  Episode Transcript Ask Joe & Big Al On Air

If you knew exactly when you were gonna die, so many financial decisions would be simple. But generally, we don’t, so today Joe and Big Al spitball on death, taxes, and trust issues of the estate planning variety. Fair warning, it’s "the dark show" today on YMYW, as the fellas discuss cancer trust funds, making your trust the beneficiary on your retirement accounts, when and how to take Social Security benefits and pension options, Roth conversion strategies taking into account the 5-year rules for withdrawals, and potentially donating required minimum distributions to charity rather than doing conversions.
Timestamps:
00:49 - Pension Plan Options Retirement Spitball: Lump Sum, Annuity, or Hybrid? (Dave, CO) 07:37 - Should We Have a Cancer Trust Fund? (Melinda, Milwaukee) 12:02 - Why Not Make Our Trust the Beneficiary on Retirement Accounts? (Ms. Merry, MD) 21:40 - Is There a 5-Year Rule on Taking Dividends from a Roth IRA After Age 59½? (Douglas, Bonita, CA) 23:34 - I’m 60, My Ex is 74. Am I Eligible for Spousal Social Security Benefits? (Salwa) 24:39 - How Much If Any Roth Conversion Should We Do? (Paul, NJ/SC) 28:53 - Why Do a Roth Conversion Instead of Donating to Charity? (Kevin, Raleigh) 32:57 - Why Separate and Never Add Money to a Profit-Sharing Plan Rolled to IRA? (Nancy, Foxboro, MA) 35:46 - Retirement Pension at 57 or 60? Social Security at 62 or 70? (midwestfabs) 45:56 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-427
Estate Planning Organizer Inflation, Interest Rates, Recession? Financial Markets Update Webinar Replay Going Solo: Navigating Your Financial Future Single - YMYW TV & companion guide Episode Transcript Ask Joe & Big Al On Air

Gidget wants to find her very own Moon Doggie so she can get married and reap that sweet, sweet capital gain exclusion when she sells her house. What do Joe and Big Al think, and can they help her find a man? Plus, is real estate a good investment for retirement income? Is taking out a TSP (thrift savings plan) loan to pay off your mortgage a good idea? Also, the fellas spitball a tax and ACA (Affordable Care Act) strategy, a FIRE strategy - well, financial independence, but not necessarily retire early - and they discuss capital gains taxes on RSUs (restricted stock units.) 
Timestamps:
00:45 - How’s My Marriage Strategy for Extra Capital Gain Exclusion on the Sale of My Primary Residence? (Gidget, San Diego) 10:46 - Is Real Estate a Good Investment for Retirement Income? (Doctor Jerry, Waco, TX) 16:14 - Should I Pay Off My Mortgage with a Thrift Savings Plan Loan? (Jake - voice message) 19:35 - Spitball Our Retirement, Tax Planning, and ACA Strategy? (John from LA - Lower Anderson, SC) 26:31 - Do I Need to Pay Quarterly Capital Gains Taxes When I Sell RSUs? (Jerry, Redmond, WA) 31:43 - FIRE Retirement Spitball Analysis: How to Structure Our Investments? (Jim, Washington State) Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-426 
10 Tips for Real Estate Investors Alternative Retirement Income Sources: Real Estate and Beyond webinar Real Estate Investing: What Are Cash-on-Cash and Cap Rate? YMYW podcast episode 365 Episode Transcript Ask Joe & Big Al On Air

How do you protect your nest egg when you’re really risk-averse and want safe, low-risk investments - should you invest in annuities, CDs? When choosing a money market fund, should you just invest in the one with the highest post-tax return? How do you go about replenishing cash, or rebalancing your portfolio, when the stock market is up? Plus, the widow’s penalty in relation to Roth conversions, and switching from survivor Social Security benefits to your own. Also - withdrawing from your portfolio before RMD age? One listener says nobody should ever need to do it! 
Timestamps:
00:51 - How to Safely Invest and Protect $400K When You’re Risk Averse (Tyler, OH - voice) 07:31 - Rebalancing: How to “Replenish Cash” When Stocks Are Up? (Elisa, Fremont, CA) 13:27 - Money Market Funds: Don’t I Want the Highest Post-Tax Return? (Michael, CO) 18:42 - The Widow’s Penalty and Roth IRA Conversions (KBH, San Antonio) 27:46 - Can I Switch from Survivor Social Security Benefits to My Own at Age 70? (Sara, Tucson, AZ) 30:43 - COMMENT: Come On People, You’ve Had a Lifetime to Set Up Your Retirement (April, Tinley Park, IL) 36:46 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-425
Withdrawal Trap Doors - YMYW TV episode and free companion guide Register for the Q1 2023 Market Update / Q2 2023 Financial Market Outlook Webinar, April 26, 12pm PT / 3pm ET with Pure Financial Advisors’ EVP and Chief Investment Officer, Brian Perry, CFP®, CFA. Episode Transcript Ask Joe & Big Al On Air