So you won the lottery - congratulations! After you celebrate, should you rip off the band-aid and convert the entire lump sum payment to a Roth IRA? That’s today on Your Money, Your Wealth® podcast 478 with Joe Anderson, CFP® and Big Al Clopin

What’s the Break-Even Point on Roth Conversions?

9 days ago 46m 35s

Are there ever times when going all Roth isn’t the best strategy? How do you determine the break-even point on doing Roth conversions? That’s today on Your Money, Your Wealth® podcast number 477, as Joe Anderson, CFP® and Big Al Clopine, CPA sp

Which Mortgage for Early Retirement? What is Private Credit?

16 days ago 49m 41s

What is private credit and where does it fit in your investment portfolio? At age 60, Hope is tired of working and she’s hoping to retire in 2-3 years. Should she factor home equity into her retirement spending plan with a reverse mortgage? Whi

Is Your Retirement Withdrawal Rate Too High?

23 days ago 51m 59s

Will Duke and Daisy’s retirement spending plan work? If you’re a fan of hearing Joe Anderson, CFP® and Big Al Clopine, CPA debate, you’re in luck today on Your Money, Your Wealth® podcast 475, as they disagree on assumptions when it comes to re

How to Take the Uncertainty of Taxes Off the Table

30 days ago 54m 28s

Jimmy in Wisconsin will have a pension, Social Security, and a seven year retirement shortfall. How should he cover it? Skipper in Texas has some unusual pension options, which makes the most sense for his retirement needs? That’s today on Your

Does Your Financial Advisor Just Want to Collect Fees?

Mar 19th, 2024 46m 42s

Why would a financial advisor suggest that Frank in Lake Wobegon sell a piece of inherited property, pay 25% tax, and invest the lump sum? Mark in Florida is 72 and invested in CDs. Should he go back to his financial advisor, or just buy more C

Will Roth Conversions Put You On Track to Retire Early?

Mar 12th, 2024 50m 13s

Rob and his wife in North Carolina are 51 and 44 and would like to retire in the next 3-5 years. Are they on track, and what should they consider as far as Roth conversions are concerned once the tax brackets go back up, which they’re slated to

How Much Should You Convert to Roth IRA?

Mar 5th, 2024 53m 45s

Big Tex, Paul in Maryland, and Nick in Alabama all need to know how much money they should convert to Roth to pay as little tax as possible, today on Your Money, Your Wealth® podcast 471 with Joe Anderson, CFP® and Big Al Clopine, CPA. Johnny a

Spitballing Retirement for Fat Wallets

Feb 27th, 2024 48m 45s

Barney and Betty in Maryland hit the jackpot. How’s Barney’s strategy for net unrealized appreciation, retirement withdrawals, and asset location for his $5 million employee stock ownership plan? Nick in the PNW will have $8 million when he ret

401(k) Ins & Outs, Roth Conversion Benefits, and Divorce Finances

Feb 20th, 2024 50m 40s

Erik in MN is divorced, and the OC Birdman of South OC is getting divorced. Should Erik contribute to pre-tax retirement accounts or Roth? How should the Birdman and his soon-be-ex time the sale of their house and the filing of their taxes? Tha

How Much to Save in Tax-Free, Tax-Deferred, and Taxable Accounts?

Feb 13th, 2024 45m 40s

Are there general guidelines on what percentages of your investment portfolio should be in tax-free accounts like your Roth, tax-deferred accounts like your 401(k), and taxable accounts like your brokerage? Joe Anderson, CFP® and Big Al Clopine

What Does Retirement Look Like for You?

Feb 6th, 2024 42m 2s

What does retirement at age 60 look like for Allison in Northern Virginia? The EASIretirement.com calculator says Jimmy and Rosalynn in Georgia are on track to reach their retirement goals, even though they’re late starters - but are they being

Roth Conversions to Pay Less Tax on Retirement Withdrawals

Jan 30th, 2024 47m 15s

Should Peter LemonJello, who has high income, and his wife, who is retired with zero income, file their taxes as married filing separately so they can start Roth conversions? What are the tax implications of Roth conversions for Randy in Chi-to

Personal Finance 101: How to Teach Teens About Money

Jan 23rd, 2024 46m 10s

How and what should we teach teenagers about money, to make the next generation financially literate? That’s what CJ in Philadelphia and Teresa want to know, today on Your Money, Your Wealth® podcast 465 with Joe Anderson, CFP® and Big Al Clopi

Tax Strategies, Backdoor Roth, Buy vs. Rent

Jan 16th, 2024 55m 19s

It’s a voice message extravaganza as Joe and Big Al talk about tax gain harvesting on Dante in New York’s daughter’s custodial account, and the tax impacts of Leon in Chicago investing in his brokerage account. The fellas also spitball on wheth

Retirement Investing, Roth Conversion Pros & Cons: YMYW Best of 2023

Jan 9th, 2024 1h 11m

We’re revisiting your favorite Your Money, Your Wealth topics and Derails of 2023 in this Roth and retirement investing mega-episode. Safe investing when you’re risk averse, mutual funds vs. ETFs, stable value funds, and estimating retirement i

Can You Retire Early at Age 50 or 60?

Jan 2nd, 2024 38m 41s

Can Clark Kent’s dad in Hutchinson, Kansas retire at age 50? Will Devin in South Carolina be fat and happy or cutting calories if he retires at 59 and a half? Can Scott Magic in Idaho retire to a good and simple life at age 60? Gina and her wif

Roth & Retirement Spitball, Insurance, and the Origins of YMYW

Dec 26th, 2023 40m 34s

Spitballing on early retirement and Roth conversions to finish 2023. How can Jack and Diane (no, the other, other Jack and Diane, these are the ones in Rochester, MN) bridge the gap to retirement at age 61? Can Michael in San Diego do a Roth co

How to Invest: Bonds, CDs, and Roth Conversions

Dec 19th, 2023 47m 15s

Joe and Big Al spitball on investing in index funds, bonds, CDs, treasuries, annuities, net unrealized appreciation on company stock, and where to park cash right now. Plus, how do taxes, Roth conversions or the Mega Backdoor Roth, and donor ad

Advisor Touts 8% Returns, But Says I Can Only Withdraw 4%?!

Dec 12th, 2023 51m 59s

Do financial advisors have some secret blood handshake that they’ll all claim they can get you 8 percent returns, but then tell their clients they can only withdraw 4 percent in retirement? That’s Mark in Minnesota’s question today on YMYW. Pl

Retirement Spending and Timing Your Mortgage Payoff

Dec 5th, 2023 49m 57s

Should Brian in Binghamton, New York pay off his mortgage for a guaranteed 6% return? How bad did Steve in Pittsburgh screw up his retirement, and can he afford to buy a new house away from his a-hole neighbors? Can Susan and her husband in Cap

How to Cut Your Taxes Before Year-End

Nov 28th, 2023 49m 41s

Last-minute tax questions answered: should Brad in Wahoo, NE save to his regular 401(k) instead of his Roth 401(k) so he can claim the American Opportunity Tax Credit? Should Jennifer and Zeke in NY set up a Roth IRA and file taxes for their 13

How to Bridge the Gap to Retirement Income: Pension Spitball

Nov 21st, 2023 55m 30s

Planning to retire early? Joe and Big Al spitball on bridging the gap to your retirement income when there’s a pension in the mix, today on Your Money, Your Wealth® podcast 456. Manley and his wife are in their early 50s and have teacher’s pens

Can High Earners Fund a Roth IRA Without Paying More Tax?

Nov 14th, 2023 53m 52s

Steve & Sharon in Minnesota are high earners - can they get more money into their Roth IRA without paying more tax? Should Fred in western New York do Roth conversions before required minimum distributions kick in? If Mike in Utah saves on heal

Is Our Retirement Savings Enough to Ever Retire?

Nov 7th, 2023 44m 46s

Will Ron and Candy in Connecticut ever be able to retire, and are Bruce and Selina in Philly saving enough to retire? That’s today on Your Money, Your Wealth® podcast 454 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, are Pebbles and Ba