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
Oct 29, 2019 • 47min
Is It Time to Fire Your Financial Advisor? - 245
Should you stay or should you go? Joe and Big Al weigh in on whether a couple of listeners who are dissatisfied with their financial advisors should ditch or keep the advisors. Plus, how should you choose investments in your 401(k)? Is it a good idea to make Roth contributions for your kids? How do you manage taxes and penalties because of Roth conversions? Ask your money questions, read the transcript, and access more free financial resources at http://bit.ly/YMYW-245
Oct 22, 2019 • 51min
5 Unique Social Security Questions Answered - 244
Social Security strategies if you are married to a younger spouse and have a minor child, affected by the windfall elimination provision, considering divorce for a better benefit, or unsure of the restricted application. And should you spend 401(k) money before taking Social Security? Next up, real estate: should you gift property now to reduce taxes later? Should you pay off your home? And the section 121 exclusion of gain from the sale of a principal residence on a split property. Transcript, show notes, and free financial resources: http://bit.ly/YMYW-244
Oct 15, 2019 • 43min
The Truth About Indexed Universal Life Insurance - 243
Is indexed universal life insurance good for estate planning, investing or as a tax shelter for high-income earners? Should you pay down debt or save if you only have $100K saved for retirement at age 66? Should extra money be invested in your 457 or brokerage account? ETFs or mutual funds? And with the new tax laws scheduled to sunset in 2026, does it make sense to do a giant Roth conversion in 2025? Transcript, free resources, and show notes: http://bit.ly/YMYW-243
Oct 8, 2019 • 46min
Investing the Money from a Real Estate Sale - 242
You've sold your primary residence or your rental property. How should you invest real estate proceeds for retirement? When do Joe and Big Al say you shouldn't do a Roth conversion? What’s the math on federal vs state taxes when doing a Roth conversion if you move to a no income tax state? And how is your pension taxed if you move? Transcript, free resources, and show notes at http://bit.ly/YMYW-242
Oct 1, 2019 • 47min
Answers to Your Top Roth Conversion Questions - 241
Your Roth IRA questions answered: when should you do a Roth conversion? Should you wait until you're in retirement to convert? What kind of income is it? How do you convert slowly so the tax bite doesn't hurt so much? How long do you have to work before you can contribute to a Roth IRA? Does the 5-year rule apply for Roth withdrawals after age 59 1/2? Plus, answers to non-Roth money questions about estate planning, reverse mortgages, transferring from a variable annuity to a traditional IRA, and using HSA funds to pay Medicare premiums. Transcript, free resources, and show notes at http://bit.ly/YMYW-241
Sep 24, 2019 • 50min
How to Choose Your Own Financial Independence Adventure - 240
Choose FI: Your Blueprint to Financial Independence authors Chris Mamula (CanIRetireYet.com), Brad Barrett and Jonathan Mendonsa (Choose FI podcast) share principles that can change your life and your idea of retirement. Plus, answers to your FIRE (financial independence / retire early) questions on bridging the gap between early retirement and tapping retirement accounts, balancing ACA subsidy eligibility against allocation decisions, options trading, and just how much Roth savings is right for you. Transcript & show notes: http://bit.ly/YMYW-240
Sep 17, 2019 • 45min
How Should You Invest? As Always, It Depends - 239
This week’s questions all revolve around what to do with your money - and everyone’s circumstances are different. What to do with a 401(k) after you retire and don’t really need the money just yet? What to do with cash in savings? Is the Papa Bear portfolio a good one? How best to save for retirement when you’re a sole proprietor AND a teacher? How to handle the basis in an s-corporation you’re closing down? Transcript, free financial resources, and show notes: http://bit.ly/YMYW-239
Sep 10, 2019 • 50min
Roth Conversions, Life Insurance & More: Email Round-Up - 238
An entire episode dedicated to money questions that run the gamut: we’re talking about using indexed universal life insurance to insure future income, buying mutual funds or ETFs in an IRA, Roth contributions and conversions, changes to the thrift savings plan, doing a reverse mortgage leading into a possible recession, the Mega-Backdoor Roth strategy, what happens to retirement accounts in a divorce and more. Transcript, free financial resources, and show notes: http://bit.ly/YMYW-238
Sep 3, 2019 • 50min
Mad at the Roller Coaster? Then You Don't Understand the Ride - 237
Back to investing basics: what makes for a wise investing philosophy while on the market volatility roller coaster? How do you find a financial fiduciary? How do you avoid people with bad financial intentions? What is a good investment policy statement? How do you figure out the annual percentage rate on an IRS payment plan? When should a teacher retire, and what should she do with her pension? Plus some Roth conversion talk, as you’d expect. Transcript & show notes: http://bit.ly/YMYW-237
Aug 27, 2019 • 49min
How Much Can You Spend When You're On FIRE? - 236
What’s a safe withdrawal rate from your investment portfolio when that money has to last 50 or 60 years because you’re part of the FIRE (financial independence/retire early) movement? Karsten Jeske, Ph.D., CFA, aka "Big Ern" from EarlyRetirementNow.com shares his experiences. Plus, will listener Paul reach $5M by retirement? Can monthly payments from an IRA annuity be used for qualified charitable distributions (QCDs)? And what happens if you’ve made mistakes with your IRA that lead to penalties? Transcript, resources & show notes: http://bit.ly/YMYW-236
