Should 70-year-old Bob live off of capital gains and dividends from his mutual funds plus Social Security, or should he sell poor-performing mutual funds for living expenses and reinvest the cap gains and dividends? Which account should Neal’s 76-year-old Mother use for living expenses? Should Neal and his wife fund their Roth 403(b) until retirement, or contribute to the regular 403(b) and then do Roth conversions after they retire? That’s today on Your Money, Your Wealth® podcast 481 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, the fellas spitball on whether IndyGuy can retire at 64 and Die With Zero, and Rod doesn’t want a spitball, but he’d like a dart on the wall as to whether his retirement savings will last until age 88. Free financial resources and transcript: https://bit.ly/ymyw-481

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Timestamps:

• 00:00 - Intro
• 00:48 - Living Expenses: Cap Gains, Dividends & Social Security or Poor Performers? (Bob, Jupiter, FL)
• 10:02 - From Which Account Should 76yo Mom Withdraw Living Expenses? (Neal, Dallas, TX)
• 18:11 - Dart on the Wall for Our Retirement to Age 88? (Rod)
• 26:08 - Can We Retire at 64 and Die With Zero? (IndyGuy)
• 35:50 - Save to Roth 403(b) or Traditional Until Roth Conversions at Retirement? (Neal, Dallas, TX)
• 42:54 - The Derails

Kyle and his fiancée are in their 30s, have done a great job saving, and are in a high tax bracket. Would it make more sense for them to contribute to their 401(k)s or Roth 401(k)s for retirement? Mick’s wife Pam has both W-2 and sole proprietor income - where should she save for retirement? That’s today on Your Money, Your Wealth® podcast 480 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, the fellas spitball for Janet on where junk bonds belong in a portfolio, they untangle the pro-rata and aggregation rules concerning 401(k) to Roth conversions for Nancy, and they spitball on whether Cary and Mark should retire now or work for two more years when pensions will provide them an extra $50K a year. Free financial resources and transcript: https://bit.ly/ymyw-480

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Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Timestamps:

• 00:00 - Intro
• 00:57 - We're in Our 30s and in a High Tax Bracket. Where Should We Save for Retirement? (Kyle, WI)
• 07:34 - Junk Bonds Explained (Janet, the Bronx)
• 13:19 - Does Pro-Rata Rule Apply When Converting 401(k) to Roth 401(k)? (Nancy, SE Wisconsin)
• 20:37 - We Have $4M. Should We Retire Now or in Two Years When Pensions Provide an Extra $50K/Year? (Cary & Mark, Los Angeles)
• 27:50 - How to Save for Retirement with Sole Proprietor and W-2 Work? (Mick, Davis, CA)
• 36:47 - The Derails

Linda is retired and financially independent. Her advisor suggests she have a separately managed account specifically for tax loss harvesting. Today on Your Money, Your Wealth® podcast 479, Joe Anderson, CFP® and Big Al Clopine, CPA spitball on how to save as much tax as possible on retirement withdrawals. Plus, Brian wants to know if it ever makes sense to put IRA money into a brokerage account, rather than doing Roth conversions, so the fellas explain the benefits of tax gain harvesting. Also, why is Robert and Jane’s financial advisor constantly trading in Jane’s professionally managed account? Pete wants to know if flat-fee financial advisors are worth their fee, and Daniel needs financial guidance for his 34-year-old daughter. He’s also considering a free assessment, but he doesn’t really know what he’s getting himself into, so Joe and Al explain. Free Financial Resources & Transcript: https://bit.ly/ymyw-479

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Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Timestamps:

00:00 - Intro

00:55 - Separately Managed Account for Tax Loss Harvesting To Optimize Retirement Withdrawals? (Linda, MD)

11:54 - Why is Our Advisor Constantly Trading in Our Professionally Managed Account? (Robert, GA)

18:00 - Are Flat-Fee Advisors Worth the Fee? (Pete, Knoxville, TN)

27:03 - Financial Planning for 34-Year-Old Daughter and Pure’s Free Assessment (Daniel, Whittier)

35:17 - Does Moving from IRA to Brokerage instead of Roth Ever Make Sense for Tax Gain Harvesting? (Brian, Albany, NY)

42:12 - The Derails