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Your Money, Your Wealth — Business
Your Money, Your Wealth

Making fun of finance. A US News & World Report “Top 9 Personal Finance Podcast” (2025) and “Top 12 Retirement Podcast” (2023). One of the “10 Best Personal Finance YouTube Channels” (CardRates, 2023). “Best Retirement Podcast With Humor” (FIPhysician, 2020-2024). 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

Copyright: © Pure Financial Advisors, LLC

Latest Episodes:

$7M Tax-Free or $10M Retirement? Backdoor Roth or Lower Fees? - 439 Jul 25, 2023

Show notes

Should Carl Spackler stick with his backdoor Roth strategy, or go for lower fees? Should Kevin go all Roth, or stick with his current three tax-diversified buckets strategy? (That depends - would he rather have $7 million tax-free, or $10 million in tax-deferred retirement accounts?) Can Lily claim all the extra allowances she can, to jam as much money as possible into her Roth? Can Dave retire now and ride his motorcycle into the Bavarian Alpine sunset, and does Peggy Lee need to be feverish about the tax underpayment penalty with her Roth strategy?

Timestamps:

00:53 - Do I Need to Worry About a Tax Underpayment Penalty with My Roth Strategy? (Peggy Lee, North Dakota)
07:17 - What Am I Doing Wrong? Can I Retire Now? What About Taxes? (Dave, Germany)
15:28 - Back Door Roth vs. Lower Fees: Which Would You Choose? (Carl Spackler, FL)
21:40 - Should We Go All Roth or Three Tax-Diversified Buckets? (Kevin, NJ )
28:53 - Can I Claim Extra Allowances to Contribute More to Roth IRA? (Lily, San Diego)
33:46 - Should I Split Money Between Multiple Brokerage Firms to Avoid Hacking? (Wesley from Unincorporated Gwinnett County, GA)
40:18 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-439

Register for the Q3 Financial Market Outlook live webinar, July 26, 2023, 12pm PT / 3pm ET
The Ultimate Guide to Roth IRAs
YMYW in US News and World Report's Best Personal Finance Podcasts to Listen to in 2023
Episode Transcript
Big Al's Island Studio (photo)
Ask Joe & Big Al On Air for your Retirement Spitball Analysis

When Will You Be Able to Retire? - 438 Jul 18, 2023

Show notes

Steven has got "one more year" syndrome. Can he retire at age 65? Today on Your Money, Your Wealth® podcast 438, Joe and Big Al spitball retirement for him, and for MB - can she and her husband live comfortably if she retires at age 59½? And for Johnny - does he have enough to fill the gap until retirement, and should his dad do Roth conversions before Johnny inherits his wealth? Is Austin maximizing his future gains by saving to his 401(k) at age 29, rather than his Roth IRA? But first, how can Mike and his wife leave their kids a lower tax bill when they pass?

Timestamps:

00:45 - How to Leave the Kids a Lower Tax Bill When We Pass? (Mike, Boerne, TX - voice)
04:24 - I Have "One More Year" Syndrome. Can I Retire at 65? (Steven, Exton, PA)
08:30 - Can We Live Comfortably If I Retire at 59½? (MB, Louisville, KY)
12:49 - Do I Have Enough to Fill the Gap Until Retirement? Should Dad Convert My Inheritance to Roth? (Johnny, El Dorado, CA)
21:49 - Am I Maximizing Future Gains By Saving to Pre-Tax 401(k)? (Austin, Naples, FL)
29:42 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-438

Retirement Lifestyles Guide
Register for the Q3 Financial Markets Outlook live webinar, July 26, 2023, 12pm PT / 3pm ET
Episode Transcript
Ask Joe & Big Al On Air

Two Unspoken Assumptions About Collecting Social Security - 437 Jul 11, 2023

Show notes

YMYW listener Alan feels that there are two unspoken assumptions that many different podcasters make when it comes to claiming Social Security benefits. Joe and Big Al spitball on those assumptions, along with safe retirement withdrawal rates before and after Social Security and pension for Rick and Jen, and a thrift savings plan (TSP) and Social Security retirement strategy for Theresa. Plus, Mark and his wife are semi-retired at 51 and 44. Are they going to run out of money? Where should Mary be saving for retirement, and how should she handle large Roth conversions before required minimum distributions (RMDs) kick in?

Timestamps:

00:45 - Unspoken Assumptions About Collecting Social Security? (Alan, Daufuskie Island, SC)
09:38 - Safe Withdrawal Rates Before and After Social Security & Pension (Rick & Jen, Atwater, OH)
19:25 - Thrift Savings Plan and Social Security Retirement Strategy ("Theresa")
29:28 - Retirement Spitball: Will We Run Out of Money? (Mark, St. George, UT)
37:37 - Where to Save for Retirement and Roth Conversions Prior to RMDs? (Mary, small town Indiana)
47:54 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-437

Social Security Handbook
Episode Transcript
Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Invest or Pay Off the Mortgage? - 436 Jul 04, 2023

Show notes

It's a common question: should you pay off your mortgage when you have extra cash, or invest for retirement? Joe and Big Al spitball on how Ms. Moneybags and her wife-to-be should use their upcoming windfall. Plus, what should Bob's asset allocation be as he nears retirement? Should Harley and Harlene do Roth conversions after tax rates increase, and should they take advantage of net unrealized appreciation (NUA) on Harlene's company stock? Pete needs a 13 year retirement plan sanity check, Lauren wants to know if she can retire early or at least go part time, and Michael and Carol want the fellas to spitball whether they're on track for retirement.

Timestamps:

00:57 - Should We Pay Off the Mortgage or Invest Our Windfall On the Way? (Ms. Money Bags)
09:00 - What Should My Asset Allocation Be When Nearing Retirement? (Bob in New York)
17:21 - Should We Convert to Roth After Tax Rates Go Up? Should We Leverage NUA? (Harley)
29:04 - 10-13 Year Retirement Plan Spitball Sanity Check (Pete, AL)
38:15 - Can I Retire Early or Go Part Time and Stop Contributing to 401(k)? (Lauren, IL)
43:17 - Retirement Spitball: Are We On Track? (Michael & Carol, Las Vegas)
48:24 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw_436

Portfolio Tracker: How to Manage Your Assets at Any Age
Episode Transcript
Ask Joe & Big Al On Air

How to Maximize Your Inheritance: IRA Options and RMDs - 435 Jun 27, 2023

Show notes

A little ditty about Jack and Diane, who will eventually inherit about $4.5M from Diane's parents. How do they manage the required minimum distributions? Which of three options should Matt take with his inherited IRA? Making the most of your inheritance today on YMYW 435. Plus, Clay wants to know if it's a good idea to take money off the table and rebalance to safer or more aggressive investments, depending on your risk tolerance? Can Elizabeth offset pre-tax IRA losses with the gains from the sale of rental real estate? Is it true that you can make one time contributions from your IRA to your HSA that is, your health savings account? And finally, can Cory gift stock to his daughters and avoid paying the kiddie tax as a way to pay for college? And can Rich supercharge a 529 college savings plan with himself as beneficiary?

Timestamps:

00:58 - How Do We Manage RMDs on a Pending Inheritance? (Jack & Diane)
11:31 - Which of 3 Options Should I Take With This Inherited IRA? (Matt, San Diego)
18:57 - Should I Take Money Off the Table and Rebalance to Safety? (Clay, Westerville (Columbus), OH)
23:50 - Can I Offset Pre-Tax IRA Losses With Gains from the Sale of Rental Real Estate? (Elizabeth, Lake Forest)
26:43 - Is It True We Can Make One Time Contributions From IRA to HSA? (Scott, NC)
32:06 - How to Pay for College: Gifting Stock and Avoiding the Kiddie Tax? (Cory, Bethesda, MD)
36:16 - Should I Supercharge a 529 Plan With Myself as Beneficiary? (Rich, NY)
41:17 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-435

Estate Planning Organizer
Emotional Investing - YMYW TV
Emotionless Investing Guide
Episode Transcript
Ask Joe & Big Al On Air

Ready to Retire? 5 Retirement Spitball Analyses - 434 Jun 20, 2023

Show notes

Joe and Big Al spitball five different retirement plans: is Jaybird on track to retire with a decent nest egg? Should Ted and his wife use the retirement smile spending pattern and spend more early in retirement? Is it safe for Aaron to retire at age 59 and a half? How much can Karla convert to Roth for the most tax-efficient retirement withdrawal plan? LEO Jay has Roth TSP retirement strategy questions, and Lynn suggests a super-easy Roth conversion calculator - but Big Al's got an even easier idea.

Timestamps:

00:44 - Are We On Track to Retire With a Decent Nest Egg? (Jaybird, Penciltucky - PA)
08:57 - Retirement "Smile": Should We Spend More Early in Retirement? (Ted)
16:57 - Is it Safe to Retire at Age 59 and a Half? (Aaron, suburb of Philadelphia)
25:42 - Spitball My Tax-Efficient Withdrawal Plan: How Much Roth Conversion? ("Karla", New York City)
34:21 - Should I Max Roth TSP and Retire at 50? When Can I Withdraw from Roth TSP? (Jay, San Diego)
37:00 - Super Easy Roth IRA Conversion Calculator (Lynn)
42:51 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-434

Retirement Pop Quiz: test your retirement knowledge
Retirement Readiness Guide
Episode Transcript
Ask Joe & Big Al On Air - get your own Retirement Spitball Analysis

Bonus Depreciation, Retirement Income, and Portfolio Diversification with Real Estate - 433 Jun 13, 2023

Show notes

How does bonus accelerated depreciation work when it comes to commercial real estate? Is real estate a good source of retirement income, and can it take the place of safe assets like bonds in your investment portfolio? Plus, can investments be transferred in-kind from an inherited trust to a brokerage account? And what tips do the fellas have for ace-ing the CFP exam and launching a career as a financial advisor?

Timestamps:

00:43 - Bonus Accelerated Depreciation on Commercial Real Estate Purchase (Papa Joe, Naples, FL)
07:04 - Is Real Estate a Good Investment for Retirement Income? (Doctor Jerry, Waco, TX - from episode 426)
13:00 - Is Real Estate a Substitute for Bonds in a Diversified Investment Portfolio? (Don, VA - from episode 416)
17:08 - Can I Move Investments In-Kind From Inherited Trust to Brokerage Account? (George, KS)
24:15 - Tips for Taking the CFP Exam and Building a Career as a Financial Advisor (Craig, St. Clairsville, OH)

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-433

Real Estate Retirement Income Webinar - Wednesday June 21, 2023, 12pm PT/3pm ET - register now
10 Tips for Real Estate Investors Guide
Episode Transcript
Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Tax Jailbreak Early Retirement Strategy: Sense or Nonsense? - 432 Jun 06, 2023

Show notes

Can you retire early - before age 55 - simply by contributing to your 401(k) only up to the company match and then saving to a brokerage account? Joe and Big Al spitball on using this so-called tax "jailbreak" strategy to retire early. Plus, is Christine on track to have $150,000 present value to live on in retirement? Is John stuck just watching his money grow and turn into big required minimum distributions (RMDs)? Can Jackie contribute to a SEP IRA and convert it all to Roth? And what do the fellas think of Lee's I-Bond emergency fund?

Timestamps:

00:49 - Is the Tax "Jailbreak" Early Retirement Strategy Nonsense? (William)
04:31 - Retirement Spitball: Can I Spend $150K Present Value in Retirement? (Christine, Seattle)
13:18 - Am I Stuck Watching My Money Grow and Being Saddled With Big RMDs? (John, TX - voice)
18:10 - Can I Contribute to SEP IRA and Convert it All to Roth, or Roll it to 401(k)? (Jackie, Bethesda, MD)
23:19 - How is My I-Bond Emergency Fund Strategy? (Lee, Jacksonville, FL)
28:12 - The Derails: One of YMYW's Most Brutal One-Star Reviews Ever

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-432

How to Build a Recession-Proof Portfolio - The latest episode of YMYW TV
Recession Protection Guide
SECURE Act 2.0 webinar (on demand) and companion guide
Episode Transcript
Ask Joe & Big Al On Air

How to Calculate Your Retirement Needs in Future Dollars - 431 May 30, 2023

Show notes

How much will money will you need in retirement, adjusted for inflation? Joe and Big Al spitball on your future dollars, how to calculate the tax on Roth conversions, and the benefits of converting to Roth when financial markets are down. Plus, should retirement savings contributions be half pre-tax and half post-tax? And finally, saving to a 529 plan for your kids, or sending them to Hollywood stunt training camp - which would you do!?

Timestamps:

00:49 - How Much Will I Need to Retire in Future (Inflated) Dollars? (Jared, Clifton Park, NY)
05:51 - Can We Retire Early With $400K Savings and $80K Pensions? That Depends on the Inflation Factor (Marcus, Queens, NYC - from episode 373)
15:22 - How to Calculate Tax on Roth Conversions & the Benefits of Converting in Down Markets (Robin)
20:00 - Should I Save Half Pre-Tax and Half-Post Tax for Retirement? (John Brown, NV)
28:26 - Hollywood Stunt Training Camp vs. Saving to 529 Plan (Mike, Utica, NY)
33:40 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-431

Big Al's Quick Retirement Calculation Guide
10 Steps to Improve Investing Success
Episode Transcript
Ask Joe & Big Al On Air

How to Consider Your Pension Options for Retirement - 430 May 23, 2023

Show notes

When should you take your pension, what types of things should you think about when it comes to deciding between a lump sum or a monthly annuity payment - risk protection, for example - and how do you work your pension into your overall retirement plan? Spitballing on retirement pension options, and saving to a taxable account when you're concerned about required minimum distributions or RMDs, on today's show.

Timestamps:

00:42 - When to Collect My Pensions: Now, Early Retirement, or Age 70? (Rose, CA)
12:16 - I'm Concerned About RMDs. Should I Save to a Taxable Account for Retirement? (John Doe, Seattle, WA)
17:33 - Pension Retirement Spitball: Are We On Track to Retire in 2032 Without Saving Any More? (Jennifer & Zeke, NY State)
25:32 - Roth 457 vs. Roth IRA and Pension Options Retirement Spitball (Clay, Westerville, OH - from episode 377)
35:39 - COMMENT: Pension Vs. Lump Sum Risk Protection (Stephen)
38:53 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-430

Key Financial Data Guide
Surviving Retirement Without a Pension - YMYW TV S4E17
Register for a free webinar: Navigating Retirement Solo, tomorrow, Wed. May 24, 2023, 12pm PT/3pm ET
Episode Transcript
Ask Joe & Big Al On Air

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