Shows
Your Money, Your WealthEarly Withdrawals, Tech Stocks vs. International, Annuities, ESOP and NUABefore she retires next month at age 52, Rowan in Georgia wonders how to maximize growth in her IRA, which will be funded with 72(t) early retirement withdrawals. What do Joe Anderson, CFP® and Big Al Clopine, CPA think of her substantially equal periodic payment plan? And how should she allocate it? Michael in Virginia isn’t interested in any international investments and is instead invested in stocks like Google, Amazon, Microsoft, Meta, and Berkshire. What adjustments would the fellas make to his portfolio for long term growth? That’s today on Your Money, Your Wealth® podcast 533. Plus, our friend Will, wh...2025-06-1033 min
Your Money, Your WealthRisks Threaten Retirement. Rewire Your PlansTariffs, inflation, healthcare costs... how do you shift from saving to spending in retirement while managing risks like these? Jamie Hopkins is a CERTIFIED FINANCIAL PLANNER® professional, an attorney, and best-selling author of Find Your Freedom and Rewirement: Rewiring the Way You Think About Retirement. He returns to the show today on Your Money, Your Wealth® podcast 525 with Joe Anderson, CFP® and Big Al Clopine, CPA, to share insights on how to rewire your retirement plans. Plus, how should Fred and Ginger in Huntington Beach, California, pay for repairs on their rental properties? How can Peter Lemonjello manage taxes in...2025-04-1555 min
Your Money, Your WealthWill the Tax Cuts and Jobs Act Be Extended?Will your taxes go up? Stay the same? Go down, even? Jeffrey Levine is Chief Planning Officer at Focus Partners, Professor of Practice in Taxation at the American College of Financial Services, and the Lead Financial Planning Nerd at Kitces.com. In other words, he’s one of the savviest tax minds in the country. Jeff returns to the show today on Your Money, Your Wealth® podcast number 524 with Joe Anderson, CFP® and Big Al Clopine, CPA, with his thoughts on what will happen to taxes under the new administration, saving for retirement in a Roth IRA vs. a trad...2025-04-0847 min
Your Money, Your WealthThese Three Investments Make for a Happier RetirementWhat are the three predictors of retirement happiness? Dr. Michael Finke, CFP® from the American College of Financial Services tells us what his research shows. He also shares his insights on the four percent rule for retirement withdrawals and whether there is anything we can do to stave off the effects of aging on our cognitive abilities. That’s today on Your Money, Your Wealth podcast number 523 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Joe and Big Al do some retirement spitballing: can Jon in Pennsylvania retire early at age 56, and would it be better for him...2025-04-0143 min
Your Money, Your WealthRetirement Planning With a Large Age Difference: A Case Study | YMYW Extra - 6He's 56, she's 32. How does this 24-year age difference impact retirement plans for "Bonnie and Clyde", and what strategies should they implement now for the most tax-efficient retirement possible in the future? While Joe Anderson, CFP® and Big Al Clopine, CPA are on vacation, Your Money, Your Wealth® podcast producer Andi Last enlists the help of Pure Financial Advisors' Managing Director Jake Greenberg, CFP®, ChFC® for a video case study (complete with visual aids!) on YMYW Extra number 6. Into which types of accounts should Bonnie and Clyde save for retirement? How much of their savings should they convert to Roth and w...2024-07-0942 min
Your Money, Your WealthSpitballing Retirement From Apple to a Tax-Friendly State | YMYW Extra - 5Will their $5 million nest egg get them to ages 85 and 100? Pa and GiDi are 65 and 60 and retiring now. As they consider moving to the no-income-tax state of Nevada in retirement, they have some decisions to make: should Pa take Social Security before age 70? How should they bridge the gap until Social Security? And most importantly, how can they minimize their taxes in retirement? Should they wait to do Roth conversions until after the move? That’s on this bonus episode of Your Money, Your Wealth®, aka YMYW Extra. While Joe Anderson, CFP® and Big Al Clopine, CPA are on vaca...2024-07-0215 min
Your Money, Your WealthSpousal Social Security, Retirement Expenses and Roth Conversions | YMYW Extra - 4How much do retirees really spend in retirement? Does the Social Security Primary Insurance Amount (PIA) continue to rise with inflation? Is all the talk about higher future tax brackets just fear-mongering? Can "Johnny Mercer" afford to leave money for his heirs, and what should his strategy be for converting his retirement savings to Roth IRA for tax-free growth on his money? While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, Your Money, Your Wealth® producer Andi Last enlists the help of senior financial advisor Rachel Fuss, CFP®, MPH from Joe and Big Al...2024-06-2514 min
Your Money, Your WealthHappily Ever After in Retirement? | YMYW Extra - 3Cinderella and her Prince Charming have a nest egg of $2.3 million and are hoping for retirement income of up to $150K/year. When can they afford to retire? How should they coordinate paying for some big purchases, paying off debt, and collecting Social Security benefits as they plan for retirement? While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, YMYW producer Andi Last enlists the help of senior financial advisor Jack Dugan, CFP®, from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in San Diego, to spitball on...2024-06-1817 min
Your Money, Your WealthRoth Conversions vs. Required Minimum DistributionsShould Mike in Virginia keep using his IRA money to pay the tax on his Roth conversions? How do you do a Roth conversion when you don’t have the money to pay the tax? That’s PeterLemonJello’s question, but is it the question he should be asking? Spitballing Roth IRA conversion strategies to reduce your taxable required minimum distributions (RMD) in retirement - that’s today on Your Money, Your Wealth® podcast 484 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Susan and Mike in Ohio are retired, in the 24% tax bracket, and considering converting $50k or $75k to...2024-06-0438 min
Your Money, Your WealthAsset Location & Roth Conversion Retirement Spitball | YMYW Extra - 1Sunshine in Orange County has been waiting patiently since January for a full Retirement Spitball Analysis: how are her assumptions for rates of return and inflation, her plans for Roth conversions, her asset allocation and asset location, her tax planning, her retirement income and retirement spending plans, and so much more? What missed opportunities is she overlooking? So many excellent Retirement Spitball requests have come in that Your Money, Your Wealth® hosts, Joe Anderson CFP®, and Big Al Clopine CPA can't handle them all. On these bonus episodes, called YMYW Extra, producer Andi Last enlists the...2024-05-3130 min
Your Money, Your WealthSlopes Vs. Suits: How Couples Bridge the Retirement GapAre women better investors and financial planners? Today on Your Money, Your Wealth® podcast 483 with Joe Anderson, CFP® and Big Al Clopine, CPA, three different husbands want to retire, while their wives feel they need to work longer. Can Jack and Diane, Mark and Belle, and Mike and his wife hit the slopes now, or do they need to keep wearing their suits? Joe and Big Al spitball on who’s right. Plus, should Ellie take her pension in a lump sum or in monthly annuity payments? The fellas also consider a solo 401(k) strategy for self-employed types from our...2024-05-2838 min
Your Money, Your WealthFDIC vs. SIPC, Annuities, SSDI & Early Retirement StrategiesWill building a new home delay Janelle's early retirement? Can Mike and his wife retire early at ages 50 and 55, and how much should they convert to Roth? Maria and her partner keep their finances separate - can Maria cover her own expenses in early retirement? That’s today on Your Money, Your Wealth® podcast 482 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, the fellas explain the difference between FDIC insurance and SIPC insurance for Edward, who wonders if he should spread his assets between banks for protection. Fajita Willy needs a spitball on his MYGA retirement strategy, that...2024-05-2143 min
Your Money, Your WealthWhich Account Should Fund Living Expenses in Retirement?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 Wi...2024-05-1443 min
Your Money, Your Wealth401(k) vs. Roth: Where to Save for RetirementKyle 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 R...2024-05-0741 min
Your Money, Your WealthTax Loss Harvesting, Tax Gain Harvesting, Financial Advisor ValueLinda 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...2024-04-3043 min
Your Money, Your WealthHow to Manage Taxes When You Win the LotterySo 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 Clopine, CPA. Also, Bucky in WA is required to have the same asset allocation in his traditional and Roth 401(k). Joe and Big Al spitball on his options, along with the pros and cons of consolidating retirement accounts for Scott in NC, and they explain the spousal Roth IRA for Rock Rochester in Manistique, MI. Plus, shou...2024-04-2352 min
Your Money, Your WealthWhat’s the Break-Even Point on Roth Conversions?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 spitball on marginal vs. effective tax rates for Joseph Allen, saving to after-tax brokerage or pre-tax 403(b) for Gigi in Illinois, the arithmetic of Roth conversions for Carl Spackler in Florida, and the mega backdoor Roth for Jefe in Texas. For something completely different, we’ll wrap it up with a discussion of tax forms that need to...2024-04-1646 min
Your Money, Your WealthWhich Mortgage for Early Retirement? What is Private Credit?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? Which mortgage option for a Houston dream home is best for Nisa in San Jose’s early retirement goals? That’s today on Your Money, Your Wealth® podcast number 476 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Wayne in Phoenix needs to know how the section 121 tax exclusion works on a vacation home, and Jack and...2024-04-0949 min
Your Money, Your WealthIs Your Retirement Withdrawal Rate Too High?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 retirement planning. The EASIretirement.com calculator says Chuck in South Carolina could convert even more to Roth, and the fellas spitball on the pros and cons. Plus, what should Chuck’s asset allocation be for his daughters, and how should Scott in Kansas City’s parents allocate their assets? Can Rothaholic undo his Roth conversion...2024-04-0251 min
Your Money, Your WealthHow to Take the Uncertainty of Taxes Off the TableJimmy 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 Money, Your Wealth® podcast 474 with Joe Anderson, CFP® and Big Al Clopine, CPA. Should Mike and Carol in Virginia wait to do Roth conversions if they’ll be in a lower tax bracket in retirement? Where should Duncan in Texas invest in the 10 years before he retires early? Would it be stupid for Jay Z in Minnesota to mis...2024-03-2654 min
Your Money, Your WealthDoes Your Financial Advisor Just Want to Collect Fees?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 CDs? That’s today on Your Money, Your Wealth® podcast 473 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Adam in Tennessee will have deferred income in 5 years. Should his asset allocation be more conservative? And in order to retire early at age 55, should Lewis in Arkansas delay starting Roth conversions? But first, if Mike...2024-03-1946 min
Your Money, Your WealthWill Roth Conversions Put You On Track to Retire Early?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 do when that provision in the Tax Cuts and Jobs Act sunsets at the end of 2025? Is Mark in West Virginia on track to retire at 59 and a half, and do Joe and Big Al have any pointers on how he can find the love of his life? Mike and Gina in Rh...2024-03-1250 min
Your Money, Your WealthHow Much Should You Convert to Roth IRA?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 and June forgot to convert their backdoor Roth money - are they in trouble? Darren in Nevada has no plans at all to do Roth conversions, but surprisingly still listens to YMYW, and still wants a spitball on his retirement and real estate investment strategies. Plus, can Lolly Pop in New Jersey be less mi...2024-03-0553 min
Your Money, Your WealthSpitballing Retirement for Fat WalletsBarney 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 retires early at 53. Should he contribute to his 401(k) or do the good ol’ mega backdoor Roth until then? Those are just a couple of the fat wallets Joe Anderson, CFP® and Big Al Clopine, CPA spitball on, today on Your Money, Your Wealth® podcast number 470. Plus, should Allen in New Braunfels’ recently widowed sister contribute to her traditional IRA and do some Ro...2024-02-2748 min
Your Money, Your Wealth401(k) Ins & Outs, Roth Conversion Benefits, and Divorce FinancesErik 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? That’s today on Your Money, Your Wealth® podcast 469 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Don has questions about the 401(k) rule of 55 and excess 529 plan college savings. Valerie in Portland wants to know what to do with her old 401(k), and how to invest her new retirement accounts. An advisor tells K-Do...2024-02-2050 min
Your Money, Your WealthHow Much to Save in Tax-Free, Tax-Deferred, and Taxable Accounts?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, CPA spitball on tax diversification today on Your Money, Your Wealth® podcast 468 for Brian in Naperville, IL. William in NH also wants to be tax-diversified. Is his Roth conversion strategy a mistake? Should he be converting much more to Roth? The fellas also do a retirement spitball analysis for Tom in Spokane, WA, and for Claire in CO, who wants to retire ne...2024-02-1345 min
Your Money, Your WealthWhat Does Retirement Look Like for You?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 realistic? Ingrid used the free EASIretirement.com calculator too, but is she able to contribute more than her annual income to her 403(b) and her Roth? That’s today on Your Money, Your Wealth® podcast number 467 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Perry and his wife in Winston-Salem also have 403(b) plans and they wonder...2024-02-0642 min
Your Money, Your WealthRoth Conversions to Pay Less Tax on Retirement WithdrawalsShould 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-town, an early retiree in the 32% tax bracket? Caity with a C in SLC is self-employed and over the income max to contribute to a Roth, so now what? And Ben in Oceanside, CA wants to know what impact Roth conversions will have on required minimum distributions after age 73? Joe Anderson, CFP® and Big Al Clopine, CPA spitball on a...2024-01-3047 min
Your Money, Your WealthPersonal Finance 101: How to Teach Teens About MoneyHow 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 Clopine, CPA. Plus, Hap and Bee have a military pension and VA disability - Joe and Big Al spitball on when they’ll be able to retire, and what they need to do to get there. And they spitball on whether Grace in Seattle is on track to retire early at age 55. David and Victoria in Grand Rapids, Michig...2024-01-2346 min
Your Money, Your WealthIs Our Retirement Savings Enough to Ever Retire?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 Bam Bam in Kentuckystone missing anything when it comes to using their brokerage account to pay Roth Conversion taxes? And Susan in San Diego is 55, spends about $36K a year, and has almost a million saved - can she retire yet? And finally, our buddy Will knows he shouldn’t time the market, but…. Timest...2023-11-0744 min
Your Money, Your WealthDon’t Retire Until You Can Answer These Five Practical QuestionsJoe Anderson, CFP® and Big Al Clopine, CPA are all about having a plan for retirement. Using examples from past YMYW episodes, they cover five questions you need to answer before you retire - so you can stay retired. Show notes, free financial resources to help you answer each question, and Ask Joe & Al On Air: https://bit.ly/ymyw-381 1. Can We Afford to Retire? 2. When Should We Claim Social Security? 3. How Can We Reduce Taxes in Retirement? 4. Are We Prepared for Medical Costs? 5. How Will We Fill Our Time?2022-06-0746 min
Your Money, Your WealthStrategies for Social Security, Gifting, and Estimated TaxesJoe Anderson, CFP® and Big Al Clopine, CPA answer your questions on Social Security disability, the file and suspend strategy, IRA contributions and Roth conversions, estimated tax, estate tax, gift tax, Social Security tax, the qualified business income deduction, selling appreciated stock, and whatever else they can jam in. Transcript & show notes: http://bit.ly/YMYW-2292019-07-0944 min
Your Money, Your WealthMobile Home Parks: Is This Undiscovered Real Estate Investment Right For You?Jefferson Lilly from Park Avenue Partners and the Mobile Home Park Investors podcast and LinkedIn group tells us why he thinks mobile home parks are the best real estate investment available. Plus, Joe Anderson, CFP® and Big Al Clopine, CPA answer your money questions on investing in natural resources, asset location when investing $50,000 cash, how to plan for retirement in the event your pension disappears, TSP allocation when retiring in 20 years, and transferring your 401(k) into your spouse’s solo 401(k). Transcript & show notes: http://bit.ly/YMYW-1972018-11-2739 min
Your Money, Your WealthWhy Do You Need To Understand Financial Markets? With Marc LevinsonMarc Levinson, author of The Economist Guide to Financial Markets: Why They Exist and How They Work explains how understanding financial markets can help you make fewer investing mistakes and improve everything from your home to your job to your portfolio. Plus, what does Tax Reform 2.0 have in store for us? What to do with a few extra bucks before they burn a hole in your bank account? Can you avoid taxes on an inherited annuity? Do SEP IRA's have ERISA protection from creditors, “like the OJ stuff?” Joe Anderson, CFP® and Big Al Clopine, CPA have some answers. Trans...2018-08-0143 min
Your Money, Your WealthSPECIAL: Market Volatility and Corrections - 154Welcome to stock market volatility. Today the market clawed back some of its big losses from last week's correction, but what’s in store tomorrow or next week or next month? What should you be doing with your portfolio, and how will this affect your retirement? Joe Anderson, CFP®, Al Clopine, CPA and Brian Perry, ChFC® provide some guidance.2018-02-1327 minYour Money, Your WealthStretch IRA's and The Business of FamilyKiplinger’s Retirement Report editor Rachel Sheedy tells Joe Anderson, CFP® and Big Al Clopine, CPA how to inherit a retirement account without paying a boatload of taxes all at once. Family, Inc. author Doug McCormick talks about how to use sound business principles to make the most of your family’s money, and the fellas answer emails about retirement contribution limits, taxation on stock dividends and splits, and the voodoo of overfunding life insurance. They also discuss Social Security and Medicare changes in 2017, and the do’s - and dont’s - of saving for retirement. 00:00 - Intro2017-02-111h 05Your Money, Your Wealth8 Proven Ways to Boost Your Retirement IncomeWith so many retirement planning strategies and the plethora of information on the internet, it can be hard for some to prioritize where to start when it comes to planning for their retirement. Joe Anderson, CFP® and Alan Clopine, CPA share eight proven ways to boost your retirement income. Original publish date January 28, 2017 (hour 2). Note that content may be outdated as rules and regulations have changed. 02:02 “After age 70 ½, you cannot do an IRA contribution but you can do a Roth IRA contribution.” 04:49 “Why do we not want to solely focus on dividend paying stocks? There’s a lot of...2017-01-2833 minYour Money, Your Wealth7 Reasons to Say Yes to a Roth IRAHow do you get motivated to save for retirement? Joe Anderson, CFP® and Alan Clopine, CPA share smart saving tips for retirement then shed light on why you shouldn’t depend solely on your pension for future income. They close the hour with seven reasons why you should say yes to a Roth IRA. Original publish date January 28, 2017 (hour 1). Note that content may be outdated as rules and regulations have changed. 02:06 “I want to go over in this segment a few ways to motivate yourself to save more for retirement, and I think this is something that’s true...2017-01-2834 minYour Money, Your WealthThe Value of Debt with Author Tom AndersonJoe Anderson, CFP® and Alan Clopine, CPA interview Tom Anderson, author of The Value of Debt in Retirement, to discuss why debt isn't always a bad thing in retirement. The Value of Debt placed #2 on Forbes List of Personal Finance Books Financial Experts Say Will Change Your Life. Plus, Joe and Al answer more email questions on-air. Original publish date January 21, 2017 (hour 2). Note that content may be outdated as rules and regulations have changed. 0:58 “We’re answering email questions as well, and this is fitting for our next segment.” 1:03 “I have a large 401(k) plus a pension...2017-01-2135 minYour Money, Your Wealth18 Questions to Ask Yourself Before You RetireAsking yourself these important questions before retiring helps rule out any unwanted surprises. Joe Anderson, CFP® and Alan Clopine, CPA dig into the email bag to answer your questions. Original publish date January 21, 2017 (hour 1). Note that content may be outdated as rules and regulations have changed. 2:48 “When you use debt properly, it can actually be pretty effective.” 9:32 “Here are 18 questions to ask yourself before you retire…let’s start with the first one: what does being retired mean to you?” 13:02 “Absolutely make sure you communicate what your retirement vision looks like to your spouse.” 2017-01-2131 minYour Money, Your WealthThe Thin Green Line with Author Paul SullivanPaul Sullivan joins Joe Anderson, CFP® and Alan Clopine, CPA to discuss the biggest lessons from his book The Thin Green Line: The Money Secrets of the Super Wealthy on creating and maintaining wealth. Also in this hour: answers to financial questions. Original publish date January 14, 2017 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:38 “[With] the 60-day rollover, you can only do one per year for all of your IRAs (individual retirement accounts) so all of your IRAs are considered to be one account.” 04:18 “I don’t think t...2017-01-1438 minYour Money, Your WealthAll About The 401(k)Joe Anderson, CFP® and Alan Clopine, CPA discuss why the father of the 401(k) regrets creating it. Plus, the worst mistakes you can make with your IRA and 401(k). Original publish date January 14, 2017 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 01:46 “[For today’s topics,] I’ve got ten important considerations for 401(k) rollovers, and Ed Slott’s three fatal IRA (individual retirement account) errors.” 02:59 “Ted Benna, in case you don’t know, is known as the father of the 401(k) and we was a benefits consultant with...2017-01-1432 minYour Money, Your WealthFamily, Inc with Author Douglas P. McCormickDouglas P. McCormick joins Joe Anderson, CFP® and Alan Clopine, CPA to discuss the framework and premise of his book Family, Inc.: Using Business Principles to Maximize Your Family's Wealth. Also in this hour: Social Security changes for 2017 + answers to financial questions. Original publish date January 7, 2017 (hour 2). Note that content may be outdated as rules and regulations have changed. 6:27 Start of Interview with Douglas P. McCormick Joe: (6:57) “Tell us a little bit about yourself and what made you write the book Family Inc.” Douglas: (7:12) “I’m an undergrad from West Point; I was an active duty army...2017-01-0735 minYour Money, Your WealthRachel Sheedy on Inheriting IRAsEditor of Kiplinger’s Retirement Report, Rachel Sheedy joins Joe Anderson, CFP® and Alan Clopine, CPA to discuss inherited IRA (individual retirement account) rules & strategies for beneficiaries. Plus, how to become an extreme saver in 2017. Original publish date January 7, 2017 (hour 1). Note that content may be outdated as rules and regulations have changed. Important Points: 04:43 “Let me recap on 2016 – I have a year-end report here. We had a rocky start in the beginning of the year…the first month was the first January in the history of the stock market…” 07:46 “Almost half of the gains happened...2017-01-0734 minYour Money, Your Wealth2016 Year in Review + Retirement TipsJoe Anderson, CFP® and Alan Clopine, CPA summarize the highs and lows of 2016 in YMYW podcast episode 92, then talk about how to automate and increase your retirement savings, how to create a retirement lifestyle game plan, and steps to take if you plan on moving in retirement. Original publish date December 31, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 01:30 “This year, if you take away any lesson from this [past] year in 2016 when it comes to your investments…is that it’s very difficult for you to time the market.” 04:52 “That’s what...2016-12-3137 minYour Money, Your WealthWhat's the Difference Between a TSP and a Roth IRA?Will a financial advisor give you an unbiased opinion? What’s the difference between a TSP and a Roth IRA? Joe Anderson, CFP® and Alan Clopine, CPA answer these questions and more in YMYW podcast episode 91. Original publish date December 17, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:54 “A stretch IRA is a way for your children, when they inherit your IRA, to stretch it over their lifetime…this may go away…if it goes away, we will go back to old rules which means all money in the IRAs needs to be withdr...2016-12-1736 minYour Money, Your WealthTax-Saving Moves to Make Before Dec. 31stIt’s your last chance to lower your tax bill – find out some last-minute moves to save on taxes before year-end. Plus, how are your assets titled? Joe Anderson, CFP® and Alan Clopine, CPA explain why making the wrong move could cost you big time in YMYW podcast episode 90. Original publish date December 17, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 13:52 “The market magnet has begun to pull the long dormant mutual fund investors, so domestic stock funds have seen an estimate net flows of $35.8 billion in the past four weeks (Investment Company...2016-12-1738 minYour Money, Your WealthWill IRA Contributions Reduce Your Tax Burden?Would contributions to a traditional IRA reduce your tax burden? How do you start saving money at a young age and what are the benefits of a Roth IRA? Joe Anderson, CFP® and Alan Clopine, CPA answer your email questions in YMYW podcast episode 89. Original publish date December 11, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 02:31 - “Would contributions to our traditional IRAs reduce our tax burden? My wife and I currently have no tax write-offs and our mortgage is paid off on our home. I contribute the maximum to my 403(b), but...2016-12-1134 minYour Money, Your Wealth12 Ways You Could Go Broke in RetirementJoe Anderson, CFP® and Alan Clopine, CPA start off YMYW podcast episode 88 with a quick discussion on potential tax changes under Trump. Plus, 12 ways you could go broke in retirement and put yourself at financial risk. Original publish date December 11, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 08:28 “There are things that you want to make sure that you take a look at in regards to your overall retirement planning and tax planning, [including] Roth IRA conversions.” 09:00 “Most tax planning strategies have to be finished before Decembe...2016-12-1135 minYour Money, Your WealthIs the Tax Code Changing?Joe Anderson, CFP® and Alan Clopine, CPA discuss a brief history of the tax code and where it might be headed in YMYW podcast episode 87. Find out some possible tax exemptions and deductions under Trump’s presidency; plus, key tax strategies to take advantage of now before the tax code could change. Original publish date December 3, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 02:35 “Over the decades, Congress simply amended the tax system by adjusting and assessing new taxes in a series of 17 internal revenue acts. By 1939, the series of tax rules became...2016-12-0334 minYour Money, Your WealthPros and Cons of Rolling a Retirement Account Into an IRADividend paying stocks: do you understand how they work? Also in YMYW podcast episode 84, Joe Anderson, CFP® and Alan Clopine, CPA answer your biggest financial questions, from how to claim a loss on a Roth IRA to the pros and cons of rolling over an employee retirement plan into an IRA (individual retirement account). Original publish date November 19, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:04 “Most [people] don’t understand that when the dividend is paid, the stock price falls by that amount.” 04:55 “It’s not necessa...2016-11-1933 minYour Money, Your WealthAre You Ready for Retirement? Answer These Questions to Find OutAre you prepared for retirement? These 6 questions will help you see if you're ready in YMYW podcast episode 83. Original publish date November 19, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. Have you explored downsizing your living expenses? Do you have a clear end game? Where are you on your debts? Have you “right sized” your mortgage? Have you considered the different types of income sources available to you in retirement? How would continuing to work at your peak earning years impact your quality of life in retirement? Later, Joe Anderson, CFP® and Alan Cl...2016-11-1936 minYour Money, Your WealthMoney for the Rest of Us | Interview with J. David SteinJ. David Stein, host of popular podcast "Money for the Rest of Us" joins the show to talk about, you guessed it, money. Joe Anderson, CFP® and Alan Clopine, CPA interview Stein on the state of the markets after the nomination of President-elect Trump. Original publish date November 12, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. Stein sheds light on failed market forecasts and how this past week demonstrated two points. First, you can't predict future outcomes, and second, you especially can't predict how the markets will react to those outcomes. Joe res...2016-11-1236 minYour Money, Your WealthTaxes under President TrumpIt’s been 30 years since the last tax reform, but President-elect Trump is planning for a change. Joe Anderson, CFP® and Alan Clopine, CPA take a comprehensive look into Trump’s proposals in YMYW podcast episode 81 and discuss how his potential tax law changes could affect you. Original publish date November 12, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. Reduce income tax brackets from seven brackets (10-39.6%) to three (12%, 25%, 33%) Increase standard deduction Remove personal exemptions 03:03: "Right now we have 7 [tax brackets] and Trump is proposing to go down to three." 03:10 "A lot...2016-11-1236 min
Your Money, Your WealthThe Value of a Financial Planner with Joe Saul-SehyJoe Saul-Sehy, host of the top-rated personal finance podcast Stacking Benjamins joins Joe Anderson, CFP® and Big Al Clopine, CPA on Your Money, Your Wealth® podcast episode 80. Saul-Sehy talks about what investors or anyone interested in personal finance can learn from his unorthodox show focused on headlines and impressive guest perspectives. Joe and Big Al wrap up the show answering listeners personal finance questions. Original publish date November 5, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:29 - Start of Interview with Joe Saul-Sehy 03:41 - “Our goal is he...2016-11-0536 minYour Money, Your WealthPropositions That May Impact Californians' FinancesJoe Anderson, CFP® and Alan Clopine, CPA discuss some of the 2016 California propositions and how they affect your finances, in episode 78 of the YMYW podcast. Plus, what's the difference between gross income and taxable income? Original publish date October 29, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 07:02 - “Prop 13 is when you buy a home in year number two and your property taxes can only go up 2% regardless of how much the home increases in value.” 09:24 - “What is the difference between gross income and taxable income...2016-10-2936 minYour Money, Your WealthHow Bond Investments WorkIn episode 76 of the YMYW podcast, Joe Anderson, CFP® and Alan Clopine, CPA answer investors' questions about bond returns, how interest rates affect bond prices, the difference between short term vs. long term bonds, and more. Original publish date October 22, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 00:44 - “Is it sensible to live on my own?” 04:06 - “Will I be penalized for a 401(k) withdrawal?” 04:59 - “I am about to turn 21 and currently in my junior year of college. I have budgeted my income so t...2016-10-2237 minYour Money, Your WealthSocial Security Strategies ExplainedJoe Anderson, CFP® and Alan Clopine, CPA discuss Social Security strategies for couples claiming spousal benefits in episode 75 of the YMYW podcast, as well as strategies for single people to consider. "Big Al" closes the hour discussing the downsides of annuities. Original publish date October 22, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:25 - “Many Americans will be living solely off Social Security... people are going to need to play catch-up.” 04:50 - “There are new law changes that happened with Social Security last year when it comes t...2016-10-2238 minYour Money, Your WealthInvesting for Retirement Questions AnsweredIn YMYW podcast episode 74, Joe Anderson, CFP® and Alan Clopine, CPA answer questions about investing for retirement, covering investment options for 403(b) accounts, tax implications of moving part of your IRA and how to avoid tax penalties when withdrawing from an IRA. Original publish date October 15, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 06:30 - “If you have a 401(k) that has a Roth option, you can put $18,000 (per year) into that Roth 401(k).” 07:51 - “If you have a 401(k) that allows you to put yet more mo...2016-10-1537 minYour Money, Your WealthBest Time to Take Social Security BenefitsMost women take their Social Security benefits early causing them to lose out on an increased benefit amount. Joe Anderson, CFP® and Alan Clopine, CPA discuss Social Security claiming strategies so you can get the most out of your benefit in episode 73 of the YMYW podcast. Original publish date October 15, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 10:34 - “According to Investment News, most women claim Social Security early (before full retirement age).” 12:14 - “The answer we’ll always give you is to push it [your Social Sec...2016-10-1538 minYour Money, Your WealthHow to Pick the Right Target-Date FundYour 401(k) plan options probably include at least one target-date fund. Joe Anderson, CFP® and Alan Clopine, CPA discuss this one-step strategy for investing for retirement in episode 72 of the YMYW podcast, then answer listeners' investing questions. Original publish date October 8, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:47 - “Unfortunately, a lot of you are not using these target-date funds correctly…first of all, a target-date fund has its own allocation.” 07:53 - “There are two expenses in any investment: expense ratios and then the other cost is r...2016-10-0838 minYour Money, Your WealthTapping Into Your Home Equity With a Reverse MortgageA reverse mortgage gives you the opportunity to tap into your home equity to generate retirement income. Joe Anderson, CFP and Big Al Clopine, CPA discuss whether a reverse mortgage is the right move for you in YMYW podcast episode 71. Original publish date October 8, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 01:02 - “I’ve got a lot [to explain] about retirement that you need to be aware of, some new tax plan strategies, pros and cons of retiring in your seventies…” 04:44 - “Part of the reason why...2016-10-0837 minYour Money, Your WealthLaws of Wealth | Interview with Dr. Daniel CrosbyJoe Anderson, CFP® & Alan Clopine, CPA answer personal investing questions in episode 70 of the YMYW podcast, then welcome New York Times and USA Today bestselling author, Dr. Daniel Crosby on the show to discuss his book, The Laws of Wealth, on behavioral finance. Original publish date October 1, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 01:07 - “Will I be penalized for an excess contribution to my IRA?” 02:57 - “You may or may not be able to deduct it based on your income level and if you’re in ano...2016-10-0136 minYour Money, Your WealthWill Your Taxes Get Audited?Joe Anderson, CFP® & Alan Clopine, CPA discuss the latest statistics on who’s most likely to get audited, how often it happens, and what to do if it happens to you, in episode 69 of the YMYW podcast. Original publish date October 1, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 00:56 - “The latest stats on how often we’re being audited. Who’s more likely to get audited? I’ll take it one step further – what do you do if you get audited?” 09:44 - “There’s such a lack of planning...2016-10-0136 minYour Money, Your Wealth8 Financial To-Dos Before Year-EndJoe Anderson, CFP® & Alan Clopine, CPA discuss the importance of properly diversifying your 401(k) in episode 68 of the YMYW podcast. Plus, should you invest in real estate or index funds? How you can determine stock loss with a non-public company? Finally, 8 financial tasks you must do by year-end. Original publish date September 24, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 00:53 - “Why do I need to diversify my 401(k)?” 03:57 - “Bonds are there to even out the ride, to even out the overall portfolio.” 05:57 - “When y...2016-09-2437 minYour Money, Your WealthCan I Roll My Solo 401(k) to a Simple 401(k)?Joe Anderson, CFP® & Alan Clopine, CPA discuss some last-minute tax planning tips before year-end in episode 67 of the YMYW podcast. They also answer frequently asked financial questions, including whether you can roll your solo 401(k) to a simple 401(k). Original publish date September 24, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 04:35 - “One of the most critical elements is checking your emergency funds.” 07:55 - “Take your retirement budget for a test drive and adjust your spending plan.” 16:15 - “Can I convert my Individual 401(k) to a SIMPLE 4...2016-09-2435 minYour Money, Your WealthWhere the Presidential Candidates Stand on TaxesThe state of the US tax code couldn’t be more uncertain. In episode 66 of the YMYW podcast, Joe Anderson, CFP® & Alan Clopine, CPA discuss the presidential candidates’ opposing views on taxes and explain what tax strategies you should take advantage of now before it’s too late. Joe and Al answer some listeners' questions later in the show. Original publish date September 17, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 2:37 “When you look at Clinton, her proposals for the most part are adding extra taxes for those that make...2016-09-1738 minYour Money, Your Wealth5 Lessons to Learn from Wealthy InvestorsJoe Anderson, CFP® and Big Al Clopine, CPA discuss a two-decade study on the character traits of America’s wealthy and uncover the lessons that can be learned from the millionaire next door, on episode 65 of the YMYW podcast. Original publish date September 17, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 06:41 - “Successful people often spend more time early in life focusing on bettering themselves which leads to higher income the remainder of their lives.” 06:50 - “We need to keep investing in ourselves all throughout our career – t...2016-09-1736 minYour Money, Your WealthBest & Worst Boomers’ Retirement PlansJoe Anderson, CFP® and Big Al Clopine, CPA discuss the good, the bad and the ugly of baby boomers’ retirement plans in episode 64 of the YMYW podcast. Plus, Big Al quizzes Joe on retirement and investing questions. Original publish date September 10, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 03:30 - “There is talk about how to fix Social Security. I personally think what they’ll do is they’ll raise retirement age; they may raise the rates, or the amount we put in Social Security...” 08:49 - “How will you m...2016-09-1037 minYour Money, Your WealthCracking Down on the ‘Mega-Roth’Oregon’s State Senator Ron Wyden is proposing a limit on Roth IRA accounts so high-income households would face restrictions on this tax-advantaged retirement account. Would this solve anything? Joe Anderson, CFP® and Big Al Clopine, CPA discuss in episode 63 of the YMYW podcast. Later, 6 reasons to convert to a Roth IRA in your 50s and 60s. Original publish date September 10, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:50 - “People who have a retirement plan through their employer tend to have more money in retirement.” 05:17 - “There...2016-09-1037 minYour Money, Your WealthFactor-Based Investing with Larry SwedroeInvesting expert Larry Swedroe joins Joe Anderson, CFP® and Big Al Clopine, CPA to discuss his new book on factor-based investing in episode 62 of the YMYW podcast. Larry also discusses smart beta, his take on the upcoming election, and how investors should react depending on the outcome. Original publish date September 3, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:02 - “Can the IRS take the property from my trust?” 04:38 - “How much can I collect in widow's benefits?” 08:24 - “Can I re-gift a stock?” 12:35...2016-09-0335 minYour Money, Your WealthWhy Save for Retirement in a 401(k)?Joe Anderson, CFP® and Big Al Clopine CPA answer your burning financial questions in episode 61 of the YMYW podcast, ranging from how to avoid gift taxes to why it’s worth it to invest in a 401(k). Original publish date September 3, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 04:17 - “When we talk about long-term care planning, a lot of people assume we mean you have to buy insurance and that’s one way to solve an issue, but not the only way.” 06:20 - “Medicare covers skilled care...2016-09-0337 minYour Money, Your WealthPension Vs. Lump Sum, 401k Rules, and the Fiduciary StandardPensions in lump sum vs monthly payments, 401(k) rules, the fiduciary standard, and more as Joe Anderson, CFP® and Big Al Clopine, CPA answer listeners' investing and personal finance questions on episode 60 of the YMYW podcast. Original publish date August 27, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 02:00 - “Does the early withdrawal penalty on my IRA apply to me?" 04:40 - “Never use your IRA (individual retirement account) for anything other than retirement.” 05:23 - “Do 401(k) contributions have any effect on MAGI (modified adjusted growth income)?” 08:40 - “Think of...2016-08-2737 minYour Money, Your WealthFinancial Planning in Your 20s and Controlling Income TaxesJoe Anderson, CFP® and Big Al Clopine CPA answer personal finance questions about real estate investments, financial planning in your 20s, retirement, and controlling income taxes from Investopedia in episode 58 of the YMYW podcast. Original publish date August 20, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:49 - “I have 2 town home units, 9 & 10. I lived in #10 since 2006 and rented #9. I want to sell both and buy a new larger home using capital gains. I will have approximately $200,000 from #10 and $150,000 from #9 in capital gains. The new home will cost approximately $500,000. If...2016-08-2036 minYour Money, Your WealthTraditional Retirement is Dead. Now What?In episode 57 of the YMYW podcast, Joe Anderson, CFP® and Big Al Clopine, CPA shed light on scary statistics regarding the rise of healthcare costs and share strategies to show how listeners can protect themselves. Plus, how traditional retirement planning has changed over the years. Original publish date August 20, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 01:43 - “The typical inflation rate has been around 3% historically; we use about 3.7% to be conservative. Medically right we do about 5.7% because that’s what it’s been growing at.” 02:55 - “If you want to get an ho...2016-08-2037 minYour Money, Your WealthAnswers to Financial Questions You’re Afraid to AskJoe Anderson, CFP® and Big Al Clopine CPA answer frequently asked financial planning questions about divorce, tax deductions, business profits, Roth IRAs, IRA rollovers and more from Investopedia in episode 56 of the YMYW podcast. Original publish date August 13, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:32 - “I am paying off a loan for CDL (commercial driver's license) school, and wondering if it is tax deductible. Does it matter if I no longer work in the trucking industry? I'm fairly inexperienced in the area of tax deductions. I unde...2016-08-1335 minYour Money, Your Wealth3 Reasons to Ignore Presidential Candidates’ Economic PromisesPresidents can bully the Federal Reserve, but they can’t set central bank policy. Joe Anderson, CFP® and Alan Clopine, CPA explain how the Fed impacts overall markets in YMYW podcast 55. They also discuss a recent article covering three reasons why you should ignore Hillary Clinton and Donald Trump’s economic promises. Original publish date August 13, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 03:06 - “The president doesn’t control the Federal Reserve system. The way the Fed was set up was quasi-independent and answers to Congress on monetary p...2016-08-1338 minYour Money, Your WealthBeware of the New 60-Day Rollover RulesThe IRS changed the rules for IRA rollovers and not everyone is catching on. Taxpayers can only perform one 60-day IRA rollover in a 12-month period, no matter how many IRAs they own. Joe Anderson, CFP® & Alan Clopine, CPA go over this new rule and share how you can avoid getting hit with high tax bills in YMYW podcast 54. Original publish date August 6, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 01:04 - “[We made a] 7-minute video on how to plan your finances in your 20’s and 30’s. The soone...2016-08-0735 minYour Money, Your WealthAvoid These 6 Costly Retirement Planning Mistakes - 53Joe Anderson, CFP® & Alan Clopine, CPA share common retirement mistakes they’ve seen for years. These mistakes that could cost you thousands, if not more, can easily be avoided if you learn how. Original publish date August 6, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:27 - “What we have found with a lot of you is that potentially you’re not going to be in a lower tax bracket.” 05:37 - “The people we work with have assets in retirement accounts, and in most cases they will be in the sa...2016-08-0635 minYour Money, Your WealthWhat You Need to Know Before Choosing a Financial AdvisorJoe Anderson, CFP® & Alan Clopine, CPA answer frequently asked investing questions and explain key factors to look for when choosing a financial advisor on YMYW podcast 52. Should you choose a fee-only or fee-based advisor and does it matter if they follow the fiduciary standard? Find out. Original publish date July 30, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:27 - “I’m currently employed by two employers, which brings my yearly income to $170K. I understand my pre-tax contributions. One of my employers now offers a Roth contribution. Am I elig...2016-07-3037 minYour Money, Your WealthIs It the End for These Three Tax-Saving Strategies?On YMYW podcast 51, Joe Anderson, CFP® & Alan Clopine, CPA discuss three major tax-saving strategies that might be going away: the backdoor Roth IRA, net unrealized appreciation (NUA) and the stretch IRA. Learn how you can take advantage of them before it’s too late. Original publish date July 30, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 04:07 - “That’s why the government is trying to get rid of it (the backdoor Roth IRA), because it’s a way for those who make a lot of money to do a Roth co...2016-07-3035 minYour Money, Your WealthWhy You Shouldn’t Time the MarketHow often do you come out on top if you try to beat the odds? Most active-fund managers fail to beat the market. Joe Anderson, CFP® and Big Al Clopine CPA share a more reliable way to invest for your future in YMYW podcast episode 50. Original publish date July 23, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 04:12 - “As the market declines, we are buying the same great companies at a discount, so now is the time to invest.” 06:24 - “You want to make sure you’re diversi...2016-07-2338 minYour Money, Your WealthTax Tools for Intelligent Charitable GivingYour generosity can pay off in more ways than one: when you give a charitable gift, the IRS will forgive a tax. In episode 48 of the YMYW podcast, Joe Anderson, CFP® and Big Al Clopine, CPA share how to make tax-smart charitable donations. Original publish date July 16, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 – Intro 02:47 – “Here’s what does create a tax deduction for volunteering: your mileage to and from some type of charitable event you go to…supplies you purchase directly for charity, and there are some fundraising expenses th...2016-07-1636 minYour Money, Your WealthRising Cost of Living + Medicare Q & A - 47The landscape of retirement is changing. The cost of living is rising and we are living longer than ever before. In episode 47 of the YMYW podcast, Joe Anderson, CFP® and Big Al Clopine, CPA share financial tips for this new age of retirement and they welcome Medicare expert, Dr. Katy Votava to share her best ways of coping with rising Medicare premiums in 2016. Original publish date July 16, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. Download the Medicare Checkup Guide 00:00 - Intro 01:57 - “When you turn age 62 or 63, the i...2016-07-1637 minYour Money, Your Wealth10 Common IRA Mistakes You Don’t Want to MakeThere are plenty of options when it comes to IRAs, but with plenty of options can come plenty of mistakes. In episode 44 of the YMYW podcast, learn from Joe Anderson, CFP® and Big Al Clopine, CPA how to ensure you don’t blow it with your IRA. Find out how to avoid the 10 most common IRA mistakes you don’t want to make. Original publish date Junly 2, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 01:09 - “Now we’re in the month of July and the Baby Boomers are turning 70...2016-07-0238 minYour Money, Your WealthHow to Solve the US Retirement CrisisJoe Anderson, CFP® and Big Al Clopine, CPA recap recent Brexit headlines and take a look at how the markets have reacted, in episode 43 of the YMYW podcast. Plus, is the US in a retirement crisis? If so, how can it be solved, and what can you do to achieve your financial independence? Original publish date July 2, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:17 - “If you think about the market, in one particular day it might go up, and the next day it could go down. So-called exp...2016-07-0237 minYour Money, Your WealthActive Investing vs Passive Investing | Interview with Larry SwedroeFinancial expert Larry Swedroe joins Joe Anderson, CFP® and Big Al Clopine, CPA, on YMYW podcast episode 40 to discuss active versus passive investing, comparing past performance numbers to illustrate which investment strategy has a more reliable outcome. Original publish date June 18, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 07:07 - “The fact of the matter is, the most successful investors understand that markets will go down and they have a strategy of what they’re going to do when they go down” 08:16 - Start of Interview with Larry Swedroe...2016-06-1839 minYour Money, Your WealthAll About Reverse Mortgages - 39Learn simple steps for building wealth in retirement with Joe Anderson, CFP® and Big Al Clopine, CPA, in YMYW podcast episode 39. Dive into the optimal retirement withdrawal strategies for keeping your finances steady regardless of market uncertainty. Later in the hour, find out if a reverse mortgage is right for you. Original publish date June 18, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 04:23 - “In 2013 the Reverse Mortgage Stabilization Act was passed and you’ve probably heard a lot of bad things about reverse mortgages but a lot of those...2016-06-1837 minYour Money, Your WealthInvesting During an Election YearIn episode 37 of the YMYW podcast, Joe Anderson, CFP® and Big Al Clopine, CPA answer questions on investing for retirement, and they share strategies for managing your portfolio during an election year. Original publish date June 11, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 06:32 - “When you inherit a retirement account, it blows up on the heirs because it’s [taxed at] ordinary income for the heirs” 08:20 - “With this Bipartisan Policy Center, one of the things they want to do is get rid of the stretch IRA because it...2016-06-1138 minYour Money, Your WealthNew Retirement Proposals Could Be Costly for High EarnersA 146-page report from the Bipartisan Policy Center was released last week and a lot of high earners aren’t going to like it. One of the proposals is to shore up Social Security by raising the tax base. In YMYW podcast episode 37, Joe Anderson, CFP® and Big Al Clopine, CPA discuss what this report puts on the line for retirement. Original publish date June 11, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:39 - “This is not the first time we’ve seen some of these proposals; I’ve got to be...2016-06-1135 minYour Money, Your WealthRecreating the 401(k) & the Disappearing PensionThe inventor of the 401(k) says he created a ‘monster.’ Could we see the end of the 401(k) as we know it? What about pensions? More and more employers have been quietly replacing pensions with other alternatives. In YMYW podcast episode 36, Joe Anderson, CFP® and Big Al Clopine, CPA discuss the future of retirement planning while sharing insight on what you should be doing now for your retirement. Original publish date June 4, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 3:53 - “You can put $18,000 into a 401(k) [each year] and once...2016-06-0436 minYour Money, Your WealthMistakes to Avoid in Managing Assets for EstatesNicole Newman, Attorney at Law joins Joe Anderson, CFP® and Big Al Clopine, CPA on YMYW podcast episode 35 to discuss the most important estate planning mistakes people need to avoid. Later in the hour, they dive into Social Security, investments and taxes. Does your Social Security strategy line up with your retirement plan? Original publish date June 4, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. Download the Estate Plan Organizer Learn more from Nicole Newman: 10 Gruesome Estate Planning Mistakes to Avoid 00:00 - Intro 02:47 - “We have seen Soci...2016-06-0438 minYour Money, Your WealthIs ‘Sell in May, Go Away’ Good Advice?Is the well-known trading adage, “sell in May and go away” actually good advice? Joe Anderson, CFP® and Big Al Clopine, CPA discuss this in YMYW podcast episode 34 before diving into retirement planning, sharing common IRA and Roth misconceptions and beneficiary blunders that could cost your family thousands. Original publish date May 28, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 02:26 - “You can contribute up to $5,500 (to an IRA); if you’re over 50 you get a $1,000 catch-up so $6,500” 04:01 - “If you’re in a low tax bracket you might not get t...2016-05-2837 minYour Money, Your WealthHow Stocks Perform in an Election YearThe 2016 election race has already offered plenty of surprises, but what could it mean for the economy? Joe Anderson, CFP® and Big Al Clopine, CPA share what they think, then move on to discuss Americans' top regrets in retirement. Are you saving enough money for emergencies? Is your credit card debt hindering your finances? Are you taking enough risk in your financial portfolio? Find out what you can do to improve your finances. Original publish date May 28, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 05:15 - “We tend to...2016-05-2839 minYour Money, Your WealthInvesting Q & A + Tax QuizJoe Anderson CFP® and Big Al Clopine, CPA answer real life investment questions for retirees and pre-retirees. Plus, 10 retirement statistics that might scare you. Joe and Al close the hour with a quiz on taxes - how will you fare? Original publish date May 21, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 01:56 - “GoBankingRates.com finds that more than half of Americans have less than $10,000 saved for retirement” 04:55 - “Can I roll over an old 401(k) to fund my child’s 529 plan?” 09:05 - “Can I use tax mon...2016-05-2137 minYour Money, Your Wealth9 Ways to Build Your Wealth in Your 50’sIf you’re in your 50’s, retirement is probably right around the corner. During this time it’s critical to make the right financial decisions to achieve your retirement goals. In episode 29 of the YMYW podcast, Joe Anderson, CFP® and Big Al Clopine, CPA break down 9 financial tips to help you enjoy a rich retirement, whether you’re a late bloomer or you’ve been saving up money for years. Find out how to build wealth now and for the future. Original publish date May 14, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - I...2016-05-1435 minYour Money, Your WealthMaximizing Social Security Benefits Under New RulesSocial Security changes are now in effect. In episode 27 of the YMYW podcast, Joe Anderson, CFP® and Big Al Clopine, CPA explain the best ways to maximize your benefit despite two major claiming strategies now eliminated. Listeners are also faced with the realities of retirement, as Joe and Al debunk common retirement and Social Security myths. Original publish date May 7, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. Download the Social Security Handbook 00:00 - Intro 06:07 - “The (2016) retirement confidence survey (by Employee Benefits Research Institute) reports that almost half...2016-05-0735 minYour Money, Your WealthCreating Tax-Free Income in RetirementBig Al Clopine, CPA and Joe Anderson, CFP® share more ways to create tax-free income and savings in retirement in episode 22 of the YMYW podcast. Find out how the recent Social Security changes in 2016 affect your taxes and what other taxes in retirement you might encounter. Original publish date April 16, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 01:14 “Now that you have your claiming strategy dialed in, have you thought about what the taxation will be on your Social Security? It will depend on a few things” 05:0...2016-04-1636 minYour Money, Your WealthHow to Save on Taxes in Retirement - 21The best time to start planning for next year's tax season is at the end of this year's tax season. In episode 21 of the YMYW podcast, Joe Anderson, CFP® and Big Al Clopine, CPA tell you how to avoid tax surprises and reduce your taxes in retirement. Original publish date April 16, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed. 00:00 - Intro 03:22 “The reason we talk taxes right at the end of tax season is because this is when you’re thinking about it and the best time to make a change...2016-04-1636 minYour Money, Your Wealth80% of Participants Failed This Financial Literacy TestOriginal publish date February 14, 2016 (hour 1). Welcome to the Your Money, Your Wealth® podcast: retirement planning, investing, and tax reduction made fun. Hosts Joe Anderson, CFP®, and Alan "Big Al" Clopine, CPA of Pure Financial Advisors have been providing financial education on the Your Money, Your Wealth® radio show in Southern California since 2008, and on the Your Money, Your Wealth® television show in San Diego since 2014! In this, the first episode of the YMYW podcast, Big Al tries to stump Joe with the financial literacy test that Forbes says 80% of participants failed. 3:08 “Just because the balance of your overal...2016-02-1435 min