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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:

How to Start Planning for Retirement - 419 Mar 07, 2023

Show notes

In order to retire comfortably at age 60, what should you be doing with your finances when you're in your 20s? A framework for getting started planning for retirement on today's episode of YMYW. Plus, if you're a small business with a SIMPLE IRA plan, is it stupid to save for retirement in a brokerage account rather than a traditional IRA? If you inherited money and promised to donate to charity, should you do Roth conversions? What's the most efficient way to pay financial advisor fees, and what's a good strategy for making pre-tax and post-tax retirement contributions?

Timestamps:

00:51 - A Framework for Getting Started in Planning for Retirement (Anonymous)
05:36 - I'm 24. What Should I Do to Retire Comfortably at 60? Michael, 24 (Binghamton, NY)
12:14 - I'm 32. Opened a SIMPLE IRA. Is It Stupid to Fund Brokerage Instead of Traditional IRA? (Ron Burgundy)
17:42 - I Inherited $450K, Promised to Donate to Charity. Should I Do Roth Conversions? (Allison, Northern Virginia)
23:02 - What's the Most Efficient Way to Pay Advisor Fees? (Nick, OH)
26:06 - Strategy for Pre-Tax and Post-Tax Retirement Contributions? (Dave)
29:56 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-419

Cracking the Code - Succeeding Financially at Every Age: YMYW TV & Companion Guide
Spitballing Retirement Planning in Your 30's (and even in your 20's!) - YMYW podcast 391
Top 10 Most Popular Your Money Your Wealth Podcast Episodes - Spotify playlist
Schedule a free financial assessment with Pure Financial Advisors
Episode Transcript
Ask Joe & Big Al On Air
(plus a photo of YMYW listener Nick's cute dogs!)

"Will I Ever Be Able to Retire?" - 418 Feb 28, 2023

Show notes

If you've got some retirement savings but can't contribute any more, will you ever be able to retire? Joe and Big Al have three simple strategies to help you get there. Plus, how long does it take to get off of Medicare's income-related monthly adjustment amount, or IRMAA, after your income decreases at retirement, and how do you take unknown future IRMAA income limits into account when setting up your financial plan? Can you "re-do" Social Security and stop taking benefits after claiming Social Security early? Do spousal benefits change after one spouse files for Social Security? And finally, the fellas address a few corrections they've received recently regarding Medicare and safe harbor 401(k) plans. What exactly is "top-heavy" anyway?

Timestamps:

00:00 - Intro
01:02 - Will I Ever Be Able to Retire? I Have Some Savings But Can't Contribute More (Patty, NY)
06:38 - Retired, Income Dropped, Enrolled in Medicare. How Long to Get Off IRMAA? (Randy, Hb, Ca)
08:05 - How to Plan for Unknown Future Medicare IRMAA Income Limits?
10:53 - "Re-Doing" Social Security: Can You Stop Taking Benefits After Claiming Early? (Lauris, Volcano, Hawaii)
12:39 - Will Spousal Social Security Benefit Amounts Change When One Spouse Files? (Philip, Los Angeles)
15:09 - SECURE 2.0: When Must You Pay Taxes on Company Match Retirement Contributions? (Jim, Dallas, TX)
19:47 - CORRECTION: ACP Test for Safe Harbor 401(k) Plans, After-Tax Contributions (Debra, St Louis)
25:08 - CORRECTION - Medicare Test: Creditable Drug Coverage (Steve, Las Vegas)
28:56 - DUKE's Medicare Enrollment Experience (DUKE (John Wayne), Knoxville, TN)
32:54 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-418:

Retirement Readiness Guide
NAPA-net: 401(k) After-Tax Contributions Are 'Testy'
Turbocharge Your Wealth! YMYW TV & Companion Guide
Episode Transcript
Ask Joe & Big Al On Air
(Plus, YMYW Producer Andi Last video interview on the Audience Growth Podcast)

What to Do When You Get a Huge Pay Increase - 417 Feb 21, 2023

Show notes

How should your financial strategy change when your income increases dramatically? We're talking like $450K one year to a million and a quarter the next? (If you guessed Roth conversions might be in the answer you'd be correct!) Joe and Big Al also spitball strategies for when your income is too high to make Roth contributions, and can you use capital gains to contribute to Roth? Can "Alligator Joe" afford to retire early, or does he need to keep gutting it out at his current job wrestling alligators? Should Catherine contribute to her 401(k) or buy company stock before she quits her day job to start a business? The fellas also spitball retirement planning involving structured settlements, inherited assets, and ACA credits, and they discuss transferring annuities to a CD vs. deferring the interest into another annuity.

Timestamps:

00:58 - Income Increased Dramatically. Should Our Retirement Tax Strategies Change? (Cookie Baron, Texas)
08:59 - Can I Use Capital Gains to Make Roth Contributions? (Aaron)
12:12 - Early Retirement Spitball: Should I Keep Gutting it Out at My Current Job? ("Alligator Joe Frazier", The Sunshine State FL)
18:11 - Contribute to 401(k) or Buy Company Stock Before Quitting to Start a Business? (Catherine, TX)
20:32 - Retirement Spitball: Income is Too High for Roth Contributions (Kelly, Owensboro, KY)
25:10 - Retirement Spitball: Structured Settlement, ACA Credits, & Inherited Assets (Kara from PA)
29:42 - Should We Transfer Annuities to CD, or Defer Interest Into Another Annuity? (Norma, Chula Vista)
34:00 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-417:

The Complete Roth Papers Package
10 Ways the SECURE Act 2.0 Changes Your Taxes and Retirement Planning (webinar)
Episode Transcript
Ask Joe & Big Al On Air

Set-and-Forget Investing, Real Estate vs. Bonds, Pension, Social Security and Medicare - 416 Feb 14, 2023

Show notes

Joe and Big Al spitball on set-and-forget brokerage investments for 30-something investors, real estate as a substitute for bonds in a diversified portfolio, and options for taking a state pension with or without sick time pay. The fellas also discuss how to bridge the retirement gap until collecting Social Security, strategies for claiming spousal Social Security benefits, and whether you need to sign up for Medicare if you'd rather keep the healthcare you already have.

Timestamps:

00:49 - Set-It-and-Forget-It Brokerage Investments for a 30-Something Investor? (Chris, Scottsdale)
07:56 - Is Real Estate a Substitute for Bonds in a Diversified Investment Portfolio? (Don, VA)
12:42 - State Pension Options: $21K at Age 55 Plus $13K Sick Time, or $30K at Age 62? (Rich, NY/NC - voice message)
19:35 - Which Funds Should We Use to Bridge the Gap Until Collecting Social Security? (Jeff, San Diego)
25:29 - When Will I Receive Spousal Social Security Benefits? (Sharon)
28:37 - Spitballing a Spousal Social Security Claiming Strategy (G, Philly)
33:50 - Do We Have to Register for Medicare If We Aren't Going to Use it? (Jim Santa Cruz)
39:03 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-416:

10 Ways the SECURE Act 2.0 Changes Your Taxes and Retirement Planning
Portfolio Tracker: How to Manage Your Assets at Any Age
Social Security Handbook
Medicare Checkup Guide
Episode Transcript
Ask Joe & Big Al On Air

SECURE 2.0, FIRE, Tax Arbitrage & Roth Retirement Spitball - 415 Feb 07, 2023

Show notes

With the new SECURE Act 2.0 rules regarding retirement savings contributions, should your company match go into the traditional or Roth 401(k)? Joe and Big Al also discuss whether you can or should do Roth conversions when your company fails non-discrimination testing for highly compensated employees (HCEs), the mega backdoor Roth vs. the employee stock purchase plan, and they spitball a tax arbitrage strategy. Plus, a retirement spitball for a 37-year-old couple wanting to retire in their 60s, and another couple wanting to FIRE (financial independence/ retire early) - but are they screwing up and creating a huge future tax bill? Show notes, free financial resources, transcript, Ask Joe & Big Al On Air: https://bit.ly/ymyw-415

Medicare IRMAA, Roth Pro-Rata, & Real Estate Strategies - 414 Jan 31, 2023

Show notes

Modified adjusted income for Medicare and IRMAA and the pro-rata and aggregation rules for Roth conversions explained... clearly? Will a combat zone TSP transfer be subject to those rules? Plus, joint tenants with rights of survivorship vs. transfer on death for a brokerage account, reducing taxes on the sale of a timeshare, how much to spend on home improvements, and using a reverse mortgage instead of long-term care insurance. And wait 'til you hear Joe and Big Al's thoughts on the best way to pay the least amount of tax when you cash out your retirement savings to buy gold and silver. Show notes, many new free financial resources, transcript, Ask Joe & Big Al On Air: https://bit.ly/ymyw-414

Spitballing Diversified Portfolios for Retirement - 413 Jan 24, 2023

Show notes

How should young savers invest pensions and estimate their retirement income needs? Is going into your employee stock purchase plan a good portfolio diversification strategy? What do Joe and Big Al think of multi-year guaranteed annuities (MYGA), and dividend-paying stocks vs. ETFs? Plus, a $10.6M retirement spitball analysis, making extra mortgage payments vs. saving to a brokerage account, and contributing to Roth 401(k) vs. traditional 401(k). Also, will a 403(b) held by an insurance company be subject to separation costs or surrender fees when rolled to an IRA? And the specifics on when to file tax form 5500. Show notes, Why Asset Location Matters Guide and other free financial resources, transcript, Ask Joe & Big Al On Air: https://bit.ly/ymyw-413

SECURE Act 2.0 & Retirement Rich, Cash Poor - 412 Jan 17, 2023

Show notes

Joe and Big Al are back with a SECURE Act 2.0 recap and a proposed backdoor 529 plan strategy from the new law. Plus, is there a scenario where it makes sense to not max retirement accounts, to avoid being retirement rich and cash poor? Also, the fellas' thoughts on a break-even point for Social Security, required minimum distributions (RMD) from inherited IRAs, and of course, Roth IRA strategies: as in, the 5-year rules for Roth withdrawals, preserving Roth money and avoiding early withdrawal penalties, and Roth conversions to offset brokerage account losses. Show notes, transcript, free financial resources - including the free guide to the SECURE 2.0 Act - and to Ask Joe & Big Al On Air for your Retirement Spitball Analysis: https://bit.ly/ymyw-412

Bear Market Survival & the 5W1H of Roth Conversions: YMYW Best of 2022 - 411 Jan 10, 2023

Show notes

IRA withdrawal strategies when you retire in a down market, Roth contributions vs. Roth conversions, converting now or waiting to convert to Roth in retirement, and why you'd want to lose today's tax savings and contribute to Roth in the first place, today on the best of the YMYW podcast 2022. Plus, how to know if your financial plan is on track and the funniest Derails of the year. Visit the podcast show notes for more financial resources - including the free guide to the SECURE Act 2.0 - episode transcript, and Ask Joe & Big Al On Air for a retirement plan spitball analysis of your own: https://bit.ly/ymyw-411

Retirement Planning, Investing, and Tax Reduction Made Fun: YMYW Trailer Jan 03, 2023

Show notes

Welcome to Your Money, Your Wealth® podcast, with CERTIFIED FINANCIAL PLANNER™ professional Joe Anderson and Certified Public Accountant Alan "Big Al" Clopine.

Your Money, Your Wealth® is retirement planning, investing, and tax reduction made fun!

Follow YMYW on your favorite podcast app and share this trailer.

Visit YourMoneyYourWealth.com and click Ask Joe and Big Al On Air to get a Retirement Spitball Analysis of your own.

And hey, thanks for listening, because the show wouldn't be a show without you.

Your Money, Your Wealth® is presented by Pure Financial Advisors, a registered investment advisor. This show does not intend to provide personalized investment advice through this broadcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the broadcast in the process of making a full and informed investment decision.

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