Your Money, Your Wealth

Should Al and Peggy in Illinois keep hammering pre-tax retirement savings or should they pivot to post-tax Roth for better tax diversification? Which pension option is best for their early retirement plans? Long-term care insurance premiums are going up endlessly for Eloise in Connecticut. Is she walking into an insurance industry trap? How do Eric and Tami in Baton Rouge help their kids with college without blowing up their own retirement, and when do student loans make sense? Finally, should Lana and Sterling harvest capital gains or prioritize Roth conversions before moving to a much higher-tax state? The basic question in all of these is the same: how do you protect your future from rising costs and unknowns that are out of your control? We'll find out what it takes, today on Your Money, Your Wealth podcast number 567. Free Financial Resources in This Episode: https://bit.ly/ymyw-567 (full show notes & episode transcript) Key Financial Data Guide - free download Retirement Panic Button: 7 Ways to Avoid Hitting It - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:55 - Pre-Tax vs. Late Roth Savings? Pension Lump Sum vs. Lifetime Income in Early Retirement? (Al & Peggy, Illinois) 14:14 - Should I Drop Long-Term Care Insurance Now at Age 70? (Eloise, Connecticut) 20:41 - College Costs vs Retirement Security for Parents (Tami & Eric, Baton Rouge, LA) 35:59 - Roth Conversions or Capital Gains Before Moving to a High Tax State? (Lana & Sterling, Nebraska) 48:14 - Next Week on the YMYW Podcast

Couples with very different account balances share one common worry: will the money last? The conversation touches on Roth conversion timing, withdrawal strategies, and how a written plan eases retirement anxiety. Tax-aware investing tactics like long/short direct indexing and capital gains harvesting get explored. They also debate pension lump sums versus lifetime streams and working after 70 logistics.

Lucky Lou contemplates early retirement at 50 with a hefty $4.5M, but can he bridge the gap until pensions kick in? Discover the Rule of 55 and 72(t) to access funds penalty-free. Young earners Alexei and Anna weigh aggressive saving against homeownership. Meanwhile, Jay and Gloria grapple with Roth vs. traditional 401(k) contributions in a tax-friendly state. Sleepless in Seattle analyzes if her daughter can afford a condo amidst rising prices. Plus, learn how to manage an inherited IRA to minimize taxes!

Hana's mom is 92. Mom's husband is 74, and after years of trying to help a family member, nearly a million dollars is gone. How do they stop the bleeding before it's too late, and how much can they spend each year from what's left? That's today on Your Money, Your Wealth® podcast number 564 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, "Peter and Gwen" from Virginia have a pension, Roths, and a shrinking IRA. With the new tax law, IRMAA, and Social Security decisions all colliding, should they keep converting to Roth, and when should they actually collect Social Security? Also, does it make sense for "Mr. and Mrs. Scarecrow" to claim Social Security early and invest it? Finally, "Rosie and Astro" from Pennsylvania ask if they can retire in just three years with $1.3 million, and whether it's time to hire an advisor to help them get there. Free Financial Resources in This Episode: https://bit.ly/ymyw-564 (full show notes & episode transcript) Social Security Handbook Retirement Readiness Guide 6 Biggest Financial Pitfalls in America (Avoid These Traps!) - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 02:21 - Family Wrecking Retirement: How Much Can Benevolent Retirees Afford to Spend? (Hana) 10:30 - We Have a Pension. Should We Do Roth Conversions After the OBBBA? When to Claim Social Security? (Peter Parker & Gwen Stacy) 23:29 - Should We Claim Social Security Early and Invest It? (Mr & Mrs Scarecrow) 29:56 - We're 60 and 57 with $1.3M. Can We Retire in 3 Years? Should We Hire an Advisor? (Rosie & Astro, PA) 41:04 - Outro: Next Week on the YMYW Podcast

Ed Slott, a renowned CPA and IRA expert, delves into the value of Roth IRAs and the future of tax strategies. He unveils why tax-free growth is crucial and how to maximize benefits through conversions. Ed highlights the implications of the SECURE Act on estate planning and suggests alternatives like life insurance for managing taxable assets. With real-life scenarios, the hosts discuss optimizing tax brackets and the need for dynamic strategies in retirement planning, ensuring listeners are equipped for financial success.

Today on Your Money, Your Wealth podcast 562 (an encore of episode 513), Joe Anderson, CFP® and Big Al Clopine, CPA spitball for YMYW listeners in their 40s who are ready to call it quits at work, become financially independent, and retire early. Can they afford to do it? Peter and Joanna want to retire in the next two years. Burned Out and Ready to Retire wants out of his toxic office. If Maryland Chicken Man never earns another dollar, how much can he afford to withdraw from his retirement accounts each year? And Suzanne in Massachusetts is 69 and needs $60K a year for the next 30 years. Is she all right? (While Joe and Big Al enjoy a little seasonal downtime and Andi recovers from surgery, enjoy this encore presentation of these questions from an early 2025 episode.) Free Financial Resources in This Episode: https://bit.ly/ymyw-562 (full show notes & episode transcript) 2025 Key Financial Data Guide - free download 10 Big Retirement Regrets to Avoid (Before It's Too Late) - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:30 - We're 45 and 44. Can We Retire in the Next 2 Years? (Peter & Joanna, NJ) 10:45 - Watch 10 Big Retirement Regrets to Avoid (Before It's Too Late) on YMYW TV, Calculate your Free Financial Blueprint 11:44 - I'm 42 and I Work in a Toxic Office. Can I Afford to Retire? (Burned Out and Ready to Retire, NJ) 21:53 - Download the 2025 Key Financial Data Guide for free 22:53 - I'm 69 and Need $60k/Year for the Next 30 Years. Am I All Right? (Suzanne, MA) 25:40 - I'm 45. If I Never Earn Another Dollar How Much Can I Withdraw Every Year? (Maryland Chicken Man) 35:15 - Outro: Next Week on the YMYW Podcast

Financially speaking, should Old Bear in Northern Kentucky marry his Honey? How should Sebastian in Virginia navigate the financial aspects of his separation? Plus, Famous Missourians want to know, how much is enough for retirement and when can you take your foot off the gas? Can Paul with the Big Wallet Bridge the long gap between retiring and claiming Social Security benefits? And can Aspiring Adventurer in Oregon retire single at age 58? (While Joe and Big Al enjoy a little seasonal downtime and Andi recovers from surgery, enjoy this encore presentation of these questions from an early 2025 episode.) Free Financial Resources in This Episode: https://bit.ly/ymyw-561 (full show notes & episode transcript) DOWNLOAD The Going Solo Guide for free WATCH: Going Solo: Navigating Your Financial Future Single on YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:01 - Financially Speaking, Should Old Bear Marry His Honey? (Northern Kentucky, near Cincinnati, OH) 08:41 - Navigating Finances When Separating from Your Spouse (Sebastian, VA) 15:13 - Watch Going Solo: Navigating Your Financial Future Single on YMYW TV, Download the Going Solo Guide for free 15:42 - How Much is Enough for Retirement? When Can We Take Our Foot Off the Gas? (JC Penney & Laura Ingalls Wilder, Kansas City, MO) 28:31 - How to Bridge the Long Gap Between Retirement and Social Security (Paul with the Big Wallet) 38:50 - Calculate your free Financial Blueprint 39:20 - Can I Retire at Age 58? Where to Save? Should I Do a Roth Conversion Ladder in Retirement? (Aspiring Adventurer, OR) 51:00 - YMYW Podcast Outro

Today on Your Money, Your Wealth® podcast 560, Joe Anderson, CFP® and Big Al Clopine, CPA spitball business development company (BDC) funds for Edward in Illinois before diving into buckets of cash, T-bills, decumulation, and Roth conversion timing for Pebbles and Bam Bam. Plus, the fellas help 34 year old Keith in Connecticut figure out if he's actually on track, whether he's taking too much risk, or just worrying too much. They also spitball on the six-figure annuity gain that Gus in Philly's 95 year old dad has amassed. Finally, why yelling "never pay an advisor" on the internet doesn't necessarily magically turn MYGAs into the perfect investment for everyone. (While Joe and Big Al enjoy a little seasonal downtime and Andi recovers from surgery, enjoy this encore presentation of these questions from a January 2025 episode.) Free Financial Resources in This Episode: https://bit.ly/ymyw-560 (full show notes & episode transcript) 10 Steps to Improve Investing Success - free download Tax-Smart Charitable Giving Guide 6 Secrets to Bigger Tax Deductions from Your Non-Profit Donations - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This week on the YMYW Podcast 01:03 - What's the Risk With Business Company Development (BDC) Funds? (Edward, IL) 03:58 - T-Bills, Decumulation, IRAs, and Investing Strategies (Pebbles & Bam Bam, Kentuckystone) 12:02 - I'm 34. Are My Investments Appropriate for My Time Horizon? (Keith, CT) 17:59 - MYGA Retirement Withdrawal Strategy for Dad (Gus in Philly) 23:00 - Just Buy Multi-Year Guaranteed Annuities (MYGAs) and Bonds (comment from Ken, YouTube) 28:04 - YouTube comments: State Taxes, Pro-Rated Sale of Primary Residence, Bonds vs. Pension, and PERMA 35:27 - YMYW Podcast Outro

Today on Your Money, Your Wealth® podcast 559 with Joe Anderson, CFP®, and Big Al Clopine, CPA, David wants to know if he and his wife (ages 47 and 53) are actually on track for retirement - without realizing they're creeping toward that .01% crowd that David swears he is not part of. Mia and Jessie from Seattle want to retire and still pick up a dream lake house with a combined ten million dollars saved. Can they pull it off? Yosemite Sam from Allen, Texas, wonders if he should wipe out the lake house mortgage or keep that low-rate loan to hang on to more flexibility as he approaches retirement. Joe and Big Al also spitball on whether Todd and Margo should shift more into pre-tax accounts to leave their corporate jobs at age 50, and whether early retirement at 55 plus a $500,000 beach home is in the cards for Birdie and Bogey from Williamsburg. Free Financial Resources in This Episode: https://bit.ly/ymyw-559 (full show notes & episode transcript) Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:53 - Middle Class Retirement Spitball For Those Not in the .01%: Are We On Track at Age 47? (David) 06:37 - $5 Million Roth, $5 Million Brokerage: Can We Retire and Buy a Dream Lake House? (Mia & Jessie, Seattle) 17:26 - Pay Off the Lake House or Keep the Low Rate Mortgage? (Yosemite Sam, Allen, TX) 25:23 - Should We Shift More Funds into Pre-Tax Retirement to Retire Early at 50? (Todd & Margo, TX) 38:45 - Can We Afford Early Retirement at 55 and a $500K Beach Home? (Birdie & Bogie, Williamsburg, VA) 46:27 - Outro: Next Week on the YMYW Podcast

McDreamy Dempsey wants to know if converting to Roth in the 37% tax bracket ever makes sense, and Gary in La Crosse warns Joe Anderson, CFP® and Big Al Clopine, CPA about Roth conversion "lag" and when it DOESN'T make sense to convert, today on Your Money, Your Wealth® podcast 558. Plus, Wine Guy and Gal in Northern California want a spitball on whether they should protect their ACA subsidies or keep converting to Roth before Medicare kicks in. Then it's the classic question for Robert in Napa, Luke and Lorelai in Indiana, and Phil and Claire in California: should they save for retirement in their traditional, pre-tax, tax-deferred accounts, or their post-tax, tax-free Roth accounts? Different needs and situations, same big question: which strategy gives you the smarter tax outcome? Free Financial Resources in This Episode: https://bit.ly/ymyw-558 (full show notes & episode transcript) Top 10 Tax Tips Guide - limited time special offer, download yours before Friday, Dec 5, 2025! Ultimate Guide to Roth IRAs - free download 2025 Key Financial Data Guide - free download 10 Tax-Cutting Moves to Make Now - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This week on the YMYW Podcast 00:57 - Should High Earners Do Roth Conversions in the 37 Percent Bracket? (McDreamy Dempsey) 06:50 - The Hidden Roth Conversion Lag: When Conversions Don't Actually Pay Off (Gary, LaCrosse, WI) 18:03 - Should You Prioritize the ACA Subsidy Cliff or Roth Conversions Before Medicare? (Wine Guy & Gal, No CA) 26:27 - Traditional vs Roth Contributions: What's Better When You Make $400K? (Robert, Napa) 33:09 - Roth or Traditional Contributions? Save More or Coast After Debt Payoff? (Luke & Lorelai, Indiana) 42:13 - Roth or Traditional at Age 48: Which Strategy Makes More Sense? (Phil & Claire, CA) 49:19 - Outro: Next Week on the YMYW Podcast