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
Aug 18, 2020 • 44min
Roth Conversion Tax Planning Strategies and Annuities - 287
Tax planning for Roth IRA conversions with itemized deductions, dividends, and long term capital gains, a Roth conversion vs. investing a 401(k) distribution in your Roth, separating pre-tax and post-tax money for a rollover, and gong baths. Plus, is a 3 year fixed annuity a safe place to earn more than 20 basis points? What should you do if you’re stuck in an annuity you don’t want? Send in questions, access free financial resources, and sign up for the August 26 YMYW live webinar: https://bit.ly/YMYW-287
Aug 11, 2020 • 48min
Dividend-Paying Stocks and Investing Strategies at All Ages - 286
Investing strategies for dividend-paying stocks and how the pro-rata rule for Roth conversions work with dividends. Plus, Wealthfront, M1, Paul Merriman? Should young investors use a robo-advisor or pay for financial advice? Also, thoughts on a Vanguard retirement portfolio and ideas for self-employed small business owners to save money in retirement plans like SEP IRA, SIMPLE IRA, and Solo 401(k). Send in money questions and access the episode transcript and free financial resources: https://bit.ly/YMYW-286
Aug 4, 2020 • 42min
New Stimulus Check & Coronavirus Relief Package On the Way? - 285
With CARES Act provisions expiring, Joe & Big Al recap the two new stimulus bills - the HEALS Act and the HEROES Act - now being negotiated in Congress. Plus, estate planning considerations when it comes to required minimum distributions (RMDs) for non-designated and designated beneficiaries. And, the 403(b) escape hatch, Social Security, records of estimated tax payments, and assets on the FAFSA form. Send questions and access the transcript and free resources in the show notes: https://bit.ly/YMYW-285
Jul 28, 2020 • 47min
What Is Your Retirement Number? YMYW Spitball Retirement Analysis - 284
Joe and Big Al spitball retirement plan considerations, including: - investing in brokerage and Roth instead of pre-tax - getting tax diversification - pension lump sum or annuity - paying for education - calculating a retirement number to put savings on autopilot Plus, what life insurance “investment” has a “guaranteed” 10% return? Do dividend paying stocks have a higher rate of return than VTSAX? Should individual stocks go in a taxable account? Send in money questions and access the episode transcript and free financial resources in the podcast show notes: https://bit.ly/YMYW-284
Jul 21, 2020 • 51min
Tax Gain Harvesting, Active vs. Passive Investments… and Roth Conversions - 283
Should you tax gain harvest or do a Roth IRA conversion? Should active or passive investments go in retirement accounts? If you’re on the younger side, why own bonds? Are Vanguard Roth accounts any better or worse than others? What’s the break even on taking Social Security early vs. late? Should you convert your 401(k) or retirement account to Roth all at once? Send in money questions and access the episode transcript and free financial resources in the podcast show notes: https://bit.ly/YMYW-283
Jul 14, 2020 • 44min
How to Do a Roth Conversion and Pay Taxes On It - 282
Do you have to transfer from a 401(k) to a traditional IRA before you do a Roth IRA conversion? Does the pro-rata rule apply? Also, the logistics of paying the tax on a Roth conversion. Plus, stimulus package updates around paycheck protection program loans, required minimum distributions and Coronavirus-related distributions from retirement accounts. Send in money questions, access the episode transcript and free financial resources, and sign up for a free tax reduction analysis: https://bit.ly/YMYW-282
Jul 7, 2020 • 48min
Will These Three Things Affect Your Social Security? - 281
What impact do ex-spouses, income, and early retirement have on collecting your Social Security benefits? Plus, indexed universal life insurance, estate planning with a step-up in basis on private placement real estate, and more on CRDs, RMDs, and stimulus checks. Joe and Big Al also submit their forecasts for whether Congress might tax Roth IRA growth in the future. Send in money questions and access the episode transcript and free financial resources in the podcast show notes: https://bit.ly/YMYW-281
Jun 30, 2020 • 45min
Are These Retirement Investment Strategies On Track? - 280
Joe and Big Al take a look at an investing strategy a listener set up for his parents, and they run the numbers on their variable annuity. They also kick the tires on an early retirement plan and they discuss equity allocations in a portfolio. And since no YMYW is complete without some Roth talk, how might Roth contributions for grandkids affect college financial aid? Send in money questions and access the episode transcript and free financial resources in the podcast show notes: https://bit.ly/YMYW-280
Jun 23, 2020 • 42min
Real Estate, Roth Conversions, and Social Security - 279
Reducing real estate taxes, leveraging new rental income properties, coordinating Social Security benefits with Roth conversions, and bragging about your 401(k) balance. Also, 5-year Roth clocks, converting from your TSP, Roth conversion vs. Backdoor Roth conversion, and paying taxes on conversions. Plus, a chat about Social Security survivor benefits - and freezers. Send in money questions and access the episode transcript and free financial resources in the podcast show notes: https://bit.ly/YMYW-279
Jun 16, 2020 • 48min
Can You Do a Coronavirus-Related Distribution to Roth Conversion? - 278
Is it possible to do a Roth IRA conversion with a Coronavirus-Related Distribution from your retirement accounts? Joe and Big Al will explain whether you can, and if you should. Plus, more stimulus payment questions, charitable giving strategies from your required minimum distribution, selling stock for tax-free capital gains and an analysis of exchange traded funds vs. mutual funds. Send in money questions and access the transcript and free resources in the podcast show notes: https://bit.ly/YMYW-278
