We’re playing “which comes first” today on Your Money, Your Wealth® podcast number 551 with Joe Anderson, CFP® and Big Al Clopine, CPA. “Retired G-Man and Nurse Ratched” from Pennsylvania have saved $2 million. Should they withdraw money first from their IRA or their taxable accounts in retirement? “Mike and Carol in Florida” want to know when and how much to convert to Roth, but they’re also sitting on a mountain of company stock. Should they deal with that first? Mackey in Florida is 55 and wonders if he can retire now with $2.6 million and some lingering debt - but there’s an important first he’s missing too! Plus, Mike in Utah asks Joe and Big Al to spitball on a plan for his 90-year-old mom’s $1.9 million annuity, and Doc McMuffin in Minnesota asks for the fellas’ take on her plan to gift appreciated assets to her parents.

Free Financial Resources in This Episode:

https://bit.ly/ymyw-551 (full show notes & episode transcript)

YourMoneyYourWealth.com - all our financial resources! Ask Joe and Big Al, blogs, workshops, financial guides, and 11 seasons of YMYW TV!

10 Big Retirement Regrets to Avoid (Before It’s Too Late) - YMYW TV

Financial Blueprint (self-guided)

Financial Assessment (Meet with an experienced professional)

REQUEST your Retirement Spitball Analysis

DOWNLOAD more free guides

READ financial blogs

WATCH educational videos

SUBSCRIBE to the YMYW Newsletter

Connect With Us:

YouTube: Subscribe and join the conversation in the comments

Podcast apps: subscribe or follow YMYW in your favorite

Apple Podcasts: leave your honest reviews and ratings

Chapters:

00:00 - Intro: This Week on the YMYW Podcast

00:53 - How to Retire at 55 With $2.6M and Debt? First, How to Write a Good Spitball Request (Mackey, FL)

03:46 - Sequence of Retirement Withdrawals: IRA First or Taxable First? (G-Man and Nurse Ratched, PA)

12:10 - Roth Conversions vs Concentrated Stock: Which Comes First? (Mike & Carol, FL)

29:27 - What to Do With 90-Year-Old Mom’s $1.9M Annuity? (Mike, UT)

40:59 - Is Gifting Appreciated Assets to Parents Tax-Smart or Risky? (Doc McMuffin, MN)

48:27 - Outro: Next Week on the YMYW Podcast