Your Money, Your Wealth

Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors
  • 4.6 (645)
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Your Money, Your Wealth

Making fun of finance. 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 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

  1. Spend RMDs, or Reduce Reduce Distributions and Taxes With Roth Conversions?

    5 DAYS AGO

    Spend RMDs, or Reduce Reduce Distributions and Taxes With Roth Conversions?

    Hawkeye and Elle are age 61 and in the 32% tax bracket. How should they get money into their Roth accounts for tax-free retirement income? Clark and Ellen are 69 and 68, expenses will pretty much be covered by their fixed income, but they’d like to leave Roth money to their kids. Should they keep converting to Roth, or use required minimum distributions for their living expenses? Tom and his wife are 73, and fixed income will cover their retirement spending too. Is it advantageous to them to make three huge Roth conversions beyond their marginal tax bracket to reduce future RMDs? Should they keep things simple by leaving their money in an S&P 500 Index Fund? That’s today on Your Money, Your Wealth® podcast 498 with Joe Anderson, CFP® and Big Al Clopine, CPA. Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-498 This is our first official video podcast! You can watch us right now on YouTube LIMITED TIME SPECIAL OFFER | Download The DIY Retirement Guide before Friday, October 11, 2024! Once the Special Offer changes on Friday, the DIY Guide will be unavailable for several months! CALCULATE: A Financial Blueprint of your retirement readiness for free REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: Free Financial Assessment LISTEN | Top Funniest Moments From the YMYW Podcast (Vol. 1) - ep. 300 SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter 00:00 - Intro: This Week on the YMYW Podcast 01:05 - Tax-Free Roth Strategy When in the 32% Tax Bracket? (Hawkeye & Elle Woods, Atlanta) 12:28 - Limited Time Special Offer: Download the DIY Retirement Guide before the Special Offer changes on Friday, Oct 11 13:31 - Spitball on Roth Conversions vs. RMDs, And Should We Buy More Bonds? (Clark & Ellen Griswold, State College, PA) 27:16 - Calculate a Free Financial Blueprint, Learn About Pure's Financial Assessment 28:36 - Should We Do 3 Huge Roth Conversions to Reduce Future RMDs? (Tom, Las Vegas) 37:59 - Outro: Next Week on the YMYW Podcast

    39 min
  2. Tax-Savvy In-Plan Roth Conversions and Inherited IRA Withdrawals

    OCT 1

    Tax-Savvy In-Plan Roth Conversions and Inherited IRA Withdrawals

    Should David in Ohio use 457 funds to do an in-plan Roth conversion in his 403(b) plan, and should he hire a financial advisor? Chris in DC needs a retirement and Roth conversion spitball analysis, and he needs help getting out of a variable annuity. Kim is anxious that she made a mess of her finances and she wonders how much she should convert to Roth, today on Your Money, Your Wealth® podcast number 497 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what’s the best way for Alissa in Cedar Rapids, Iowa to make tax-efficient withdrawals from an inherited IRA? Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-497 CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Retirement Income Strategies Guide WATCH YMYW TV: Retirement Rebound: 5 Plays to Help You Score a Comeback REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter   Timestamps:  00:00 - Intro: This week on YMYW 00:50 - In-Plan Roth Conversions From 457 to 403(b): Do I Need a Financial Advisor? (David, OH) 10:54 - Get a Free Financial Blueprint, Learn About Pure's Financial Assessment 12:13 - Retirement and Roth Conversion Spitball + How to Get Out of Variable Annuity (Chris, DC) 20:05 - Anxious I Made a Mess of My Finances. How Much Should I Convert to Roth? (Kim) 28:13 - Watch Retirement Rebound: 4 Plays to Score a Comeback on YMYW TV, Download the Retirement Income Strategies Guide 29:08 - Inherited Assets: Best Strategy for Tax-Efficient Retirement Withdrawals? (Alissa, Cedar Rapids, IA) 42:10 - Outro

    43 min
  3. Age Plus 20 Rule for Retirement Contributions

    SEP 24

    Age Plus 20 Rule for Retirement Contributions

    How much should you save in pre-tax accounts vs. post-tax accounts? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "age plus 20" rule for retirement savings, Roth 401(k) contributions and distributions, and a Social Security claiming strategy for Ralph and Marie in Wilmington, Delaware. Shawn wonders if YMYW listeners are ignoring the WEP and GPO when it comes to Social Security, that is, the Windfall Elimination Provision and the Government Pension Offset. Plus, can Jake and Amy in Iowa retire in 5 years, or do they need to work beyond age 60? Should Edwin stop making Roth contributions and start doing Roth conversions instead? And finally, how can Jeff in North Dakota’s son qualify for the American Opportunity Tax Credit? Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-496 REGISTER NOW: Medicare Basics webinar - TOMORROW, Wednesday Sept. 25, 2024, 12pm Pacific, 3pm Eastern, with Robert Dow and Lisa Velasco, Medicare specialists from the Dow Agency CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Social Security Handbook DOWNLOAD: Medicare Check-Up Guide WATCH YMYW TV: Medicare Check-Up: How to Keep Your Retirement Plan Off Life Support REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter   Timestamps:  00:00 - Intro 01:09 - Roth 401(k) Contributions and Distributions, Age Plus 20 Rule, and Social Security Claiming Strategy (Ralph and Marie, Wilmington, DE) 12:35 - Download the Social Security Handbook, Download the Medicare Check-Up Guide, Watch Medicare Check-Up: How to Keep Your Retirement Plan Off Life Support on YMYW TV, Register for the Medicare Basics webinar Wed. Sept 25, 12P/3E 13:37 - Are Listeners Ignoring Government Pension Offset and Windfall Elimination Provision for Social Security? (Shawn) 17:30 - Can We Retire in 5 Years Or Do We Need to Work After Age 60? (Jake & Amy, Iowa) 26.36 - Financial Blueprint - get your complementary retirement analysis 27:45 - Should I Stop Roth Contributions and Do Roth Conversions instead? (Edwin) 31:24 - American Opportunity Tax Credit for College Age Son (Jeff, ND) 35:58 - Outro

    37 min
  4. 3 Strategies to Pay Roth Conversion Taxes

    SEP 17

    3 Strategies to Pay Roth Conversion Taxes

    Today on Your Money, Your Wealth® podcast 495, Joe Anderson, CFP® and Big Al Clopine CPA spitball on three different listeners’ strategies for paying the tax on a Roth conversion now, to have lifetime tax-free growth on that money in the future. Should Neo in San Clemente, California convert to Roth at the beginning or end of the year in his plan to make quarterly estimated tax payments on his conversion? Is it a good strategy for Tim in Minnesota to use reimbursements from his health savings account to pay Roth conversion taxes? And what do Joe and Big Al think of Samantha in Northern California’s plan to convert to Roth and pay the tax with her IRA money? Plus, the fellas answer questions from our YouTube and Spotify followers on required minimum distributions from Roth accounts, reasons to put retirement withdrawals in a brokerage account instead of a Roth, choosing pension options, and the difference between commercial annuities and pension annuities. Plus, their thoughts on single premium immediate annuities (SPIA). Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-495 CALCULATE: A Financial Blueprint of your retirement readiness for free! DOWNLOAD: Complete Roth Papers Package  DOWNLOAD: Retirement Readiness Guide WATCH: What Happens to Your 401(k) & IRA at Retirement? YMYW TV REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps:  00:00 - Intro 01:02 - Timing of Roth Conversions - and Paying Quarterly Estimated Taxes (Neo, San Clemente) 06:37 - Is Using HSA Reimbursement to Pay Roth Conversion Taxes a Good Strategy? (Tim, MN) 08:44 - Complete Roth Papers Package - free download. Financial Blueprint - free retirement analysis 09:39 - How Is Our Plan to Convert to Roth and Pay the Tax With IRA Money? (Samantha, Northern California) 19:15 - What Happens to Your 401(k) & IRA at Retirement? Watch YMYW TV, download the Retirement Readiness Guide 20:01 - RMDs for Roth Accounts: Clarification for Solo 401k (Andy, YouTube) 21:43 - Joe and Al walk into a bar… (Tony, YouTube) 22:44 - Any Reason to Put Withdrawals in Brokerage Instead of Roth? (Globe Trotter, YouTube) 23:35 - How to Decide Between Pension Options? (Frank, YouTube) 25:40 - Is a Pension Annuity a Bad Thing? (Invictus, YouTube) 26:47 - Are SPIAs the Best Annuity for Lifetime Income? (1212482970, Spotify) 29:23 - Outro 30:58 - The Derails

    34 min
  5. How to Get Into the Stock Market: Dollar Cost Average or Go All In?

    SEP 10

    How to Get Into the Stock Market: Dollar Cost Average or Go All In?

    TJ in Louisiana has been sitting on the sidelines, but now it’s time to get into the market. Should he dollar cost average, or just go all in? Margaret in California has an idea of selling a stock at a loss and buying a put option on that stock that expires after the 30-day waiting period. Does this work as a tax loss harvesting strategy? When is it worth it for Brian in Charlotte, North Carolina to diversify beyond a basic three-fund portfolio? Should Christine in San Diego convert her variable annuity to a fixed indexed annuity? That’s all today on Your Money, Your Wealth® podcast 494 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, how should Dean in Columbus, Georgia invest inherited retirement money? Are Jen and John on track for retirement, and how should they fund their home remodel? Are there any negative consequences for Steve in Pennsylvania if he finds a new financial advisor just a few months after hiring his current advisor? The fellas also talk through how Chris can give money to charity from his required minimum distributions. And finally, Terry calls in with a follow-up question about whether a solo 401(k) is an option to avoid unrelated business income tax (UBIT).  Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-494 SCHEDULE: free financial assessment DOWNLOAD: Investing Basics Guide DOWNLOAD: 10 Steps to Improve Investing Success DOWNLOAD: Retirement Readiness Guide WATCH YMYW TV: How Your Home Can Create Retirement Income READ THE BLOG: Factor Investing: What Is It? Should You Be Doing It? SUBSCRIBE: YMYW on YouTube REQUEST: Retirement Spitball Analysis DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro 01:13 - I Want to Get Into the Market. Dollar Cost Average or Go All In? (TJ, Louisiana) 07:08 - Does This Tax Loss Harvesting Strategy Work? (Margaret, CA) 07:45 - When Is It Worth Diversifying Beyond a Basic Three Fund Portfolio? (Brian, Charlotte, NC) 13:33 - Factor Investing: What Is It? Should You Be Doing It? - Read the blog, Download the Investing Basics Guide and 10 Steps to Improve Investing Success 14:00 - Should I Convert a Variable Annuity to Fixed Index Annuity? (Christine, San Diego) 18:21 - How to Invest Inherited Retirement Funds and Where to Save Extra Money? (Dean, Columbus, GA) 21:50 - How Should We Fund Our Home Remodel? Are We On Track for Retirement? (Jen and John, California) 29:43 - How Your Home Can Create Retirement Income: Watch YMYW TV, Download the Retirement Readiness Guide 30:15 - Solo 401(k) to Avoid Unrelated Business Income Tax (UBIT)? (Terry - voice) 32:31 - Switching to a Fee Only Advisor: Any Negative Consequences? (Steve, PA) 37:19 - Intelligent Charitable Giving Through Qualified Charitable Distributions (Chris) 41:05 - Outro

    43 min
  6. How Much Money Do You Need to Retire ASAP?

    SEP 3

    How Much Money Do You Need to Retire ASAP?

    Can "Alanis" retire early at age 60? With "Barney and Betty’s" spending patterns, can they retire ASAP? "Daisy and Donald" need retirement income for 40 years. Can they retire now? That’s today on Your Money, Your Wealth® podcast 493 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, we review the results of the 7th Annual YMYW Podcast Survey (congratulations to jemart for winning the Amazon e-gift card!) and Joe and Big Al take on some critical YouTube comments from Keith, following their interview with Ed Slott, CPA.  Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-493 WATCH: Retirement Pop Quiz on YMYW TV DOWNLOAD: Retirement Readiness Guide REQUEST: Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps:  00:00 - Intro 00:57 - Are My Estimates Solid for Early Retirement at Age 60? ("Alanis", WA) 10:39 - Watch Retirement Pop Quiz on YMYW TV and Download the Retirement Readiness Guide 11:20 - How Much Money Do We Need to Retire ASAP? ("Barney and Betty", NE New Jersey) 24:36 - Can We Retire Now? ("Daisy Duck", Emerald City) 30:48 - Subscribe to the YMYW YouTube Channel 31:15 - 7th Annual YMYW Podcast Survey Results 38:54 - Comment: Keith Doesn't Like Ed Slott or Roth Conversions 47:45 - Outro 48:58 - The Derails

    50 min
  7. Exchange Funds Explained, Roth Conversion Timing

    AUG 27

    Exchange Funds Explained, Roth Conversion Timing

    What is an exchange fund and is it a good thing if you have a lot of capital gains like Bryan in New York? That's today on Your Money, Your Wealth® podcast 492 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, what should be the timing and ordering of Billy Joe and Bobby Sue’s Roth conversion strategy to help them achieve 33 years of retirement income? Is Boston overspending or underspending in retirement? Should Andy keep life insurance policies for her kids with ADHD?  How does the 5-year rule for Roth withdrawals apply to inherited Roth IRAs for Karen? Visit the show notes for the YMYW Podcast Survey and secret password (only for the next three days!), plus access the free financial resources listed below, and the episode transcript: https://bit.ly/ymyw-492 SCHEDULE A FREE FINANCIAL ASSESSMENT FREE DOWNLOAD: 10 Steps to Improve Investing Success FREE DOWNLOAD:  Social Security Handbook WATCH YMYW TV: Social Security Basics You Need to Know: Common Social Security Questions Answered REQUEST: Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter YMYW Podcast Survey: Visit the show notes to access the survey and secret password   Timestamps: 00:00 - Intro 00:37 - Roth Conversion Timing, Order, and 33 Years of Income? (Billy Joe & Bobby Sue, Indiana) 12:32 - Watch Social Security Basics You Need to Know: Common Social Security Questions Answered on YMYW TV, Download the Social Security Handbook 13:17 - I Have $1.2M Capital Gains. Pros and Cons of an Exchange Fund? (Bryan, NY) 23:28 - Download 10 Steps to Improve Investing Success, last chance to complete the 7th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (type in ymyw) 24:15 - We’ll Have $7M. Are We Underspending or Overspending in Retirement? (Boston) 35:13 - Should We Keep Life Insurance Policies for Adult Kids with ADHD? (Andrea, Seattle) 41:50 - How Does the 5-Year Rule for Roth Withdrawals Apply to Inherited Roth IRAs? (Karen, TX) 45:15 - Outro 46:22 - The Derails

    47 min
  8. Alternative Investments, Annuities, and Real Estate Syndications

    AUG 20

    Alternative Investments, Annuities, and Real Estate Syndications

    What do Joe Anderson, CFP® and Big Al Clopine, CPA think about alternative investments? Andrew in Ohio wants to know. Are real estate syndication deals for real, and a YMYW listener just chose poorly? And Stewart in Serra Mesa is curious whether Joe has changed his position on annuities lately, as rates have “normalized” in the past couple of years? That’s today on Your Money, Your Wealth® podcast number 491. Plus, when should Steve in Las Vegas’ friend quit her casino job and collect Social Security and child benefits? And how is D in the Midwest’s plan for creating income in retirement? Visit the show notes to access the YMYW Podcast Survey and secret password, free financial resources, and episode transcript: https://bit.ly/ymyw-491 SCHEDULE A FREE FINANCIAL ASSESSMENT FREE DOWNLOAD: Investing Basics Guide READ THE BLOG: Benefits of Systematic Rebalancing REQUEST: Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter YMYW Podcast Survey: Visit the show notes to access the survey and secret password Timestamps: 00:00 - Intro 00:457 - Real Estate Syndication Deals: Did We Just Make Bad Decisions? (Anonymous) 07:57 - Thoughts on Alternative Investments? (Andrew, OH) 12:54 - Read The Benefits of Systematic Portfolio Rebalancing and Download the Investing Basics Guide 13:31 - Has Joe Modified His Position on Annuities Lately? (Stewart, Serra Mesa, CA) 24:42 - Principal Protected Investing Options for Structured Settlement for a Minor: Annuity? (Speedy Gonzalez, Western NY) 29:52 - 7th Annual YMYW Podcast Survey: your chance at a $100 Amazon e-gift card! 30:35 - When to Stop Work and Claim Social Security and Child Benefits? (Steve, Las Vegas - voice) 34:58 - How’s Our Plan for Retirement Income? (D, Midwest) 44:40 - Outro 45:53 - The Derails

    48 min
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4.6
out of 5
645 Ratings

About

Making fun of finance. 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 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

Information

  • Creator
    Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors
  • Years Active
    2009 - 2024
  • Episodes
    495
  • Rating
    Clean
  • Copyright
    © Pure Financial Advisors, LLC
  • Show Website
    Your Money, Your Wealth

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