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
Jul 27, 2021 • 45min
How to Spitball Your Most Tax-Efficient Retirement Withdrawal Strategy - 336
Spitballing tax-efficient retirement withdrawals, savings, Social Security, and required minimum distributions (RMD). Plus, leveraging whole life insurance, and is investing 15% of an all-stock portfolio in preferred stocks too risky? First, Joe and Big Al break down the mechanics and safety of doing a 401(k) to IRA rollover. Visit the podcast show notes to access the transcript, free financial resources, and to ask your money questions: https://bit.ly/YMYW-336
Jul 20, 2021 • 46min
Which States Are the Most Tax-Friendly in Retirement? - 335
Which states are best for retirement taxes? When moving to a state with a lower cost of living, is it wise to take on mortgage debt to invest in the market? Does it make a difference if you do a Roth conversion before or after moving states? Plus, is it better to do Roth conversions with ETFs or mutual funds? Is 0% long-term capital gains a hoax? Also, ABLE accounts for those with disabilities, and healthcare costs vs. taxes. Financial resources, transcript, Ask Joe & Big Al On Air: https://bit.ly/YMYW-335
Jul 13, 2021 • 51min
Are We On Track for Retirement? Financial Plan Spitball Analysis - 334
Spitballing retirement readiness for Sean and for Little Al who has UK retirement funds and is desperate to quit work now. Plus, how can Doug do some tax arbitrage with pensions, Roth conversions, and Social Security? Can Mary switch to her ex-spouse’s Social Security benefit? First, Tyler has questions about restricted stock units (RSUs) and net unrealized appreciation (NUA). Access the transcript and free financial resources, and Ask Joe & Big Al On Air in the podcast show notes: https://bit.ly/YMYW-334
Jul 6, 2021 • 52min
Are Financial Advisors Really Worth the Money? - 333
Do you need a CERTIFIED FINANCIAL PLANNER™ professional? Is a financial advisor worth hiring? What does a fee-only fiduciary do, anyway? We get these questions frequently, and now you can listen to Joe & Big Al’s answers from 2016 to the present, all in a single episode. Plus, how to measure CFP® performance, and when it’s time to part ways with your financial planner. Access the transcript and free financial resources, and Ask Joe & Big Al On Air, all in the podcast show notes: https://bit.ly/YMYW-333
Jun 29, 2021 • 37min
Roth Conversions, Medicare, and Required Minimum Distributions - 332
Do Roth IRA conversions increase Medicare premiums? How can you convert to Roth and stay below the IRMAA threshold (that is, Medicare’s Income-Related Monthly Adjustment Amount)? Also, a Roth conversion strategy to account for RMDs, those 5-year rules for withdrawing from your Roth depending on whether you’re over or under age 59 and a half, and “how much should I have in a Roth to be in a low tax bracket in retirement?” Financial resources, transcript, Ask Joe & Big Al On Air: https://bit.ly/YMYW-332
Jun 22, 2021 • 47min
What is the Best Age to Retire, Financially Speaking? - 331
Financially, what's the ideal retirement age? Are Roth conversions to the 37% tax bracket a good idea when you've achieved FAHR (financial abundance, happily retired)? Should you stop investing and start saving cash when approaching retirement? You're maxing retirement accounts, should you save to a deferred comp plan too? Is the employee stock purchase plan too many eggs in one basket? And finally, how to pay for long-term care insurance? Podcast show notes, Ask Joe & Big Al On Air: https://bit.ly/YMYW-331
Jun 15, 2021 • 48min
Has the Government Ever Reduced Social Security Benefits? - 330
Have Social Security payments ever been cut for those already receiving them? Plus, survivor benefits, the Windfall Elimination Provision (WEP), and CalPERS. Also: what retirement accounts should you save into in what order? How should you withdraw from a brokerage account in retirement? And paying the tax on a Roth conversion, overfunding a 529 plan for education, and mortgage refinancing and interest deduction. Access the transcript and financial resources, ask Joe & Big Al On Air: https://bit.ly/YMYW-330
Jun 8, 2021 • 45min
How to Protect Investments Against a Stock Market Crash? - 329
Strategies to protect your portfolio from a stock market crash: put options, collars, non-correlated alternative investments, and tax-managed buy-and-hold. Also: how to measure financial advisor performance? How does tax-loss harvesting work? Are health savings accounts (HSA) tax-free? Is alternative minimum tax (AMT) a concern when moving Roth to an annuity? And how to get your MIL not to smoke in your car? YMYW podcast show notes, free financial resources, transcript, Ask Joe & Al: https://bit.ly/YMYW-329
Jun 1, 2021 • 1h 6min
Should People in High Tax Brackets Save in Roth Retirement Accounts? - 328
Roth 401(k) contributions and "Megatron" (er, mega backdoor) Roth contributions for highly compensated employees, and the Roth conversion strategy of filling the tax bracket. Plus, moving a pension to an investment plan, owning real estate in a self-directed IRA, paying off the mortgage vs. refinancing your house, spousal vs. survivor Social Security benefits, and rolling a whole life insurance policy to a variable annuity. Access the YMYW podcast show notes and Ask Joe & Al on air: https://bit.ly/YMYW-328
May 25, 2021 • 49min
How to Avoid a Tax Time Bomb: Retirement Plan Spitball Analysis - 327
Maxing out Roth IRA, 457, and HSA - check. Pension - check. What else do you need for retirement planning? How do pension and Social Security fit into your fixed income portfolio mix? Should you be more aggressive with Roth conversions? Is a 5% equities growth rate good for early retirement plans with inflation? Will a Spousal Lifetime Access Trust (SLAT) protect assets from a tax time bomb? Plus a SECURE Act 2.0 overview. Transcript, financial resources, ask your money questions at https://bit.ly/YMYW-327
