Your Money, Your Wealth
Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors
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
Episodes
Mentioned books
Nov 23, 2021 • 45min
Retirement Spitballing, Social Security, and Hiring & Ghosting Financial Advisors - 353
How does the “Buy, Borrow, Die” strategy of the uber-wealthy work? Stacking capital gains vs. Roth conversions, contributing to a non-deductible IRA vs. a brokerage account, and minimizing tax when a trust is the TSP beneficiary. Also, why delay Social Security to age 70 if you don’t need the money, and estimating benefits with a future salary of $0. Finally, can you “ghost” an advisor? Should you hire a financial advisor near you? Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-353
Nov 16, 2021 • 46min
Dividends, Asset Classes, and Diversification: How to Invest for Retirement? - 352
Can your investment portfolio be over diversified? How do dividends and net unrealized appreciation (NUA) work? How will ownership inequality in the stock market impact future returns for most investors? What do Joe & Big Al think of target date funds? Plus, the YMYW podcast is now on video! Watch the fellas spitball on annuities, bonds, long-term treasuries, risk tolerance, and the buckets of money investing strategy. Show notes, video clips, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-352
Nov 9, 2021 • 47min
Estate Planning, Social Security, and TSP to Roth Conversions - 351
Is there a step up in basis on (and advantage to) a joint tenants with rights of survivorship brokerage account? Is a charitable remainder trust a good way to liquidate property? Is there a point to Roth conversions when leaving your estate to charity? Should you name your trust as beneficiary on retirement accounts? When to draw from Social Security, pension, and annuity in retirement? Plus, Roth conversions from a thrift savings plan. Show notes, resources, Ask Joe & Al On Air: https://bit.ly/ymyw-351
Nov 2, 2021 • 51min
Spitballing the Sequence of Retirement Savings - 350
In what order you should contribute into which accounts for retirement? Joe & Al explain the reasoning behind the sequence of retirement savings and where a health savings account (HSA) fits. Following some retirement plan spitball analyses and Roth conversion strategizing, the fellas explain whether capital gains are taxed progressively, how required minimum distributions are taxed, & they revisit indexed universal life insurance. Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-350
Oct 26, 2021 • 47min
How to Pay the Tax on a Roth Conversion - 349
Learn the basics of Roth IRA conversions, how to calculate the tax on a Roth conversion, when to pay the tax, and more. Plus, ideas for what to do with unused 529 plan education savings funds, rules for 401(a) accounts, understanding the alternative minimum tax, the latest tax proposals, how to calculate employer solo 401(k) contributions - and that’s just the tip of the iceberg. Visit the podcast how notes for free financial resources and to Ask Joe & Al your money questions: https://bit.ly/ymyw-349
Oct 19, 2021 • 41min
Medicare, Social Security, and FIRE Early Retirement - 348
How to calculate modified adjusted gross income (MAGI) for Medicare IRMAA, Social Security benefits when you’re planning to FIRE (Financial Independence / Retire Early), family Social Security benefits for those with minor children, and a strategy to qualify for the Obamacare ACA subsidy. Plus, Roth conversions prior to early retirement, and untangling stock options, long-term incentives (LTI), and restricted share units (RSU). Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-348
Oct 12, 2021 • 38min
What's the Right Mix of Stocks and Bonds for Your Investment Portfolio? - 347
Asset allocation is the delicate balance of stocks, bonds, and other assets in an investment portfolio. What allocation is best for your retirement needs? What mix of domestic and international stocks is best? Is a 90/10 equities to fixed income mix crazy in a $10M portfolio? Should Dad be at 90/10 or 60/40? Can pension & Social Security count as a bond allocation? Plus, legacy tax planning: how to avoid confiscatory estate taxes? Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-347
Oct 5, 2021 • 31min
Buying and Selling Your House or Real Estate - 346
How do you estimate net investment income tax when selling your primary residence? Is the all-in-one mortgage a temporary solution when buying a house before selling your current home? Also: buying property in California with your kids, and should you pay the mortgage or save for retirement? Plus, what's the best way to pay credit card debt? Do corporations really pay no taxes? Can you contribute to both Roth IRA and Roth 401(k)? Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-346
Sep 28, 2021 • 45min
Working or Retiring Abroad and Early Retirement Spitball - 345
Retiring overseas and foreign earned income exclusion eligibility, using your tax refund for a back door Roth conversion, and working abroad and contributing to a health savings account (HSA). Plus, should you contribute to Roth, pre-tax accounts, or brokerage for early retirement? Are substantially equal periodic payments (SEPP) good to bridge the gap between retiring early and age 59.5? Is it ever a good time to time the market? Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-345
Sep 21, 2021 • 47min
It Could Be Over for the Mega Backdoor Roth IRA - 344
Joe & Big Al outline the House Ways and Means Committee's sweeping tax proposal that would impact Roth contributions, Roth conversions, RMDs, the backdoor Roth IRA and mega backdoor Roth (Megatron), marginal and capital gains tax rates, wash sale rules, and more. Plus, safe retirement income and withdrawal strategies, when NOT to do a Roth IRA conversion, and solo 401(k) retirement savings for self-employed small business owners. Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-344
