Your Money, Your Wealth

By: Joe Anderson CFP® & Alan Clopine CPA of Pure Financial Advisors
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  • Summary

  • 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
    Pure Financial Advisors, LLC
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Business & Careers Economics Personal Finance Politics & Government
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Episodes
  • How to Plan for 35 Years of Retirement Spending With Smart Roth Conversions - 506

    How to Plan for 35 Years of Retirement Spending With Smart Roth Conversions - 506
    Dec 3 2024
    What’s a safe withdrawal rate for Wine Guy and Wine Gal in Sonoma California to have 35 years of “guaranteed” retirement spending? How aggressively should they convert their retirement savings to Roth IRA? Should the Bond family move from Silicon Valley to a no-income-tax state in retirement? Can Doc in San Francisco quit work in 8 years when his daughter starts college? Rob in Kansas City and his wife are in their late 30s and have 2 million saved. Can they retire early? Plus, Elisa in Fremont has more than the capital gains exclusion for a married couple of $500,000 worth of home equity. How much will this cost her, and will it kill her IRMAA for Medicare premiums? Should Happy Camper and Jolly Pumpkin take their pension’s monthly annuity or the lump sum payout? And finally, Lloyd in South Dakota isn’t a fan of retirement accounts and wants Joe and Big Al to talk some sense into him. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-506 CALCULATE your Financial Blueprint SCHEDULE your Financial Assessment WATCH Financial Planning at Every Age on YMYW TV DOWNLOAD The Retirement Readiness Guide for free READ THE BLOG: It's Not Too Late! Year-End Financial Moves to Make Right Now READ THE BLOG: US National Debt and the Impact on Long-Term Investing REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:05 - What’s Our Guaranteed Safe Withdrawal Rate for 35 Years of Retirement? How Aggressive Should We Convert to Roth? (Wine Guy/Gal, Sonoma, CA) 12:09 - Calculate your Financial Blueprint, schedule a Free Financial Assessment 13:45 - Should We Move to a No Income Tax State in Retirement? (James Bond, Silicon Valley, CA - voice) 20:50 - Can I Stop Working in 8 Years When Daughter Starts College? (Doc, San Francisco, CA) 26:10 - Late 30s With $2M. Are We Really on Track for Early Retirement? (Rob, Kansas City) 31:20 - Watch Financial Planning at Every Age on YMYW TV, download the Retirement Readiness Guide 32:25 - Our Home Equity is Over the $500K Exclusion. How Much Will We Be Charged? Will This Kill My IRMAA? (Elisa, Fremont, CA) 35:44 - Should We Take the Monthly Pension or Lump Sum Payout? (Happy Camper & Jolly Pumpkin, WI) 43:03 - I'm Not a Fan of Retirement Accounts. Talk Some Sense Into Me. (Lloyd Christmas, SD) 49:04 - Outro: Read the blogs, It's Not Too Late! Year-End Financial Moves to Make Right Now and US National Debt and the Impact on Long-Term Investing
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    51 mins
  • How to Retire ASAP - and Where to Save to Get There - 505

    How to Retire ASAP - and Where to Save to Get There - 505
    Nov 26 2024

    Ricochet J in Colorado and her husband want to retire as soon as humanly possible. Are they on track? Should they save their surplus funds to a brokerage account or a solo 401(k)? That’s today on Your Money, Your Wealth® podcast 505 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Micah in South Dakota wonders whether having a $40,000 a year pension is basically the same as having a million dollars in bonds, according to the four percent rule. What do Joe and Big Al think? Barney and Betty will be in the 12% or 22% marginal tax bracket, but their effective tax rate will only be between 10% and 12.4%, so how much should they convert to Roth? Are they asking the right question? And finally, Joe and Big Al spitball on ways to ensure that Amir in New Mexico has the maximum possible retirement income to last him to age 90 or 95. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-505

    DOWNLOAD The Complete Roth Papers Package for free

    WATCH Your 11-Step Path to Financial Freedom on YMYW TV

    CALCULATE your free Financial Blueprint

    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 the YMYW Podcast

    01:04 - Save to Brokerage vs. Solo 401(k) to Retire as Soon as Humanly Possible? (Ricochet J, CO)

    15:23 - Watch Your 11 Step Path to Financial Freedom on YMYW TV, Calculate your free Financial Blueprint

    16:36 - Is a $40K/yr Pension Similar to $1M in Bonds According to the 4% Rule? (Micah, SD)

    18:48 - Marginal vs. Effective Tax Rates: How Much to Convert to Roth? (Barney & Betty)

    22:58 - Download the Complete Roth Papers Package

    23:48 - How to Have Maximum Possible Retirement Income to Age 90-95? (Amir, NM)

    30:13 - Outro - Next Week on the YMYW Podcast
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    32 mins
  • Rules for Inheritances and Making Roth Contributions for Others - 504

    Rules for Inheritances and Making Roth Contributions for Others - 504
    Nov 19 2024
    Can Ted and Georgette convert $1.6M in an inherited trust to Roth without distributing it? Should the trust own their home so they can use the home equity? Melissa was added as joint owner on her parents’ bank accounts after a medical event, but what have they done? Should Ralph and Alice use the required minimum distribution from their inherited IRA to pay Roth conversion taxes? That’s today on Your Money, Your Wealth® podcast 504 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, can Theodore contribute to a his wife Louise’s Roth IRA? Can Marc make Roth contributions for his grandkids? Also, Joe and Al come up with a very unique way that John may be able to pay the tax on his Roth conversion using his home equity. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-504 DOWNLOAD by Friday: Top 10 Tax Tips Guide - limited time special offer! WATCH 10 Tax-Cutting Moves to Make Now - YMYW TV DOWNLOAD: Identity Theft Guide WATCH: How to Protect Yourself from Scams: Cybersecurity webinar on demand 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 01:00 - Can We Convert an Inherited Trust to Roth Without Distributing It? Should the Trust Own Our Home? (Ted & Georgette Baxter, Madison, WI) 10:02 - Watch 10 Tax-Cutting Moves to Make Now on YMYW TV, Download the Top 10 Tax Tips Guide before this Friday! 11:08 - I’m Joint Owner of My Parents’ Bank Accounts. What Have We Done? (Melissa, Rockport, TX) 16:35 - Can I Contribute to My Wife’s Roth IRA? Can I Max Out Multiple Roth Accounts? Should We Do Roth Conversions? (Theodore & Louise, Seattle, WA) 23:43 - Should We Use Inherited IRA RMD to Pay Roth Conversion Tax? (Ralph & Alice Kramden, SC) 27:35 - Can I Fund Roth IRAs for My Grandchildren? (Marc, Encinitas) 28:40 - Watch the Cybersecurity Webinar on demand, Download the Identity Theft Guide 29:32 - Should We Maximize the 24% Tax Bracket With Roth Conversions This Year and Next? (John) 37:55 - Outro: Next Week on the YMYW Podcast
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    40 mins

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