Your Money, Your Wealth

Why does Becca in Florida’s advisor "poo-poo" her strategy for funding 529 plans for education? Keith, commenting on Spotify, wants to know about reimbursing yourself from a 529 plan for the scholarship amount used for education without penalty, and Wendy way up in New York wants to know if she should use retirement funds to pay for college and home renovations. Plus, what are the pros and cons of starting Roth conversions for Renee in Wisconsin, and is she on track for retirement? Will the IRS penalize Dan in Michigan for not paying Roth conversion tax in January? With the 5-year Roth clock, how does compounding interest work when Aaron in Ohio changes custodians? And Kirk in Iowa wonders how the Affordable Care Act tax credit works with dependents. 

Timestamps:

• 00:55 - Why Doesn’t My Financial Advisor Want Me to Fund 529 Plans? (Becca, FL)
• 08:19 - Is 529 Plan Self-Reimbursement for Scholarships Okay? (Keith)
• 10:22 - Should We Use Retirement Funds to Pay for College and Home Renovations? (Wendy, way up in north NY)
• 18:11 - Pros and Cons of Starting Roth Conversions: Are We On Track for Retirement? (Renee, WI)
• 28:58 - Is the IRS Going to Penalize Me For Not Paying Roth Conversion Tax in January? (Dan, Milford, MI)
• 30:38 - Roth 5-Year Clock: Compounding Interest on Rolled Over Retirement Accounts (Aaron, OH)
• 32:19 - How Does the Affordable Care Act Tax Credit Work with Dependents? (Kirk, IA)
• 37:11 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-452 

• ABCs of College Funding - free download
• Money Saving Tips fro Funding College - YMYW TV
• How to Save for Education; 529 Plan, Coverdell, Prepaid Tuition and More - on-demand webinar
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Should Jim in New Jersey do the YMYW-infamous Megatron (the Mega Backdoor Roth IRA) or use his Roth 401(k) - and how can he keep bonds out of his Roth accounts? Joe and Big Al discuss the January first start date when it comes to the 5-year rule on Roth conversions for Nancy in Wisconsin, and they spitball on those Roth clocks for withdrawals and tax-efficient investments for Johnny Mercer in Savannah, GA, who also wants to know the pros and cons of bonds vs. bond funds vs. CDs. Plus, should Brad in St. Louis incorporate bonds into his investment portfolio, given the fact that he will have pensions and Social Security providing 5 streams of fixed income in retirement? 

Timestamps:

• 00:58 - The Megatron: Mega Backdoor Roth IRA vs. Roth 401(k) (Jim, NJ)
• 14:42 - 5-Year Rule on Roth Conversions: How Does January First Default Start Date Apply? (Nancy, WI)
• 19:43 - 5-Year Rule on Roth Conversions vs. Tax-Efficient Investments, Bond Funds Vs. Bonds Vs. CDs (Johnny Mercer, Savannah, GA)
• 32:42 - What’s the Best Strategy for Incorporating Bonds into Our Retirement Portfolio? (Brad, St. Louis)
• 40:09 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-451 

• Complete Roth Papers Package - includes the Roth Basics Guide, the 5-Year Rules for Roth IRA Withdrawals, and the Ultimate Guide to Roth IRAs
• 10 Steps to Improve Investing Success
• Investing Basics Guide
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

How much can you safely spend in retirement? Is the four percent rule outdated? Joe and Big Al spitball on a safe retirement distribution rate for those in the 55-60 age range for Clay in Ohio. They also spitball on withdrawal rates when there’s a pension in the mix for Jonny and June in the Bay Area of California, and for William in Maryland, who is concerned he might be exposing himself to sequence of returns risk by spending too much in early retirement. Plus, when does Dan have to take required minimum distributions from the IRA he inherited from his Dad in 2021? Finally, Wayne in San Diego wants to know how to protect his bank accounts from FedNow, the Federal Reserve’s new peer-to-peer payment system.

Timestamps:

• 00:53 - What’s a Safe Retirement Distribution Rate? (Clay, OH)
• 07:57 - Can We Retire at Ages 50 and 48? (Johnny & June, East Bay, CA)
• 19:01 - Spitball My Retirement Withdrawal Rate (William, MD)
• 24:50 - When Am I Required to Take Money From My Inherited IRA? (Dan)
• 28:54 - How to Protect Money From FedNow? (Wayne, San Diego)
• 32:37 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-450 

• Withdrawal Strategy Guide - free download
• Withdrawal Trap Doors: How to Avoid Them! YMYW TV
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

What should Martin do about his outrageously fee-heavy 403(b) plan? Should EF hedge his pre-tax non-qualified 415 excess plan? What should Max do with his old TIAA plan, and what are the pros and cons of a cash balance defined benefit plan for self-employed people like Brent Money? Plus, Mike needs Joe and Big Al’s spitball on the highly compensated employee rule and excess 401(k) contributions, and the fellas explain how employee stock purchase plans are taxed for Big Cheese Bob the Tomato. 

Timestamps:

• 00:55 - What to Do About My Outrageous Fee-Heavy 403(b)? (Martin, Miami, FL)
• 05:56 - Should I Hedge My Pre-Tax Non-Qualified 415 Excess Plan? (EF, Kansas)
• 14:25 - What to Do With My Old TIAA Retirement Plan? (Max, Seattle)
• 24:29 - Highly Compensated Employee Rule and Excess 401(k) Contributions (Mike, Castleton, NY)
• 29:16 - How Are Employee Stock Purchase Plans (ESPP) Taxed? (Big Cheese/Bob the Tomato)
• 32:26 - Cash Balance Plans Pros and Cons for Self-Employed (Brent Money, Bennington, NE)
• 40:52 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-449 

• Investing Basics Guide - free download
• Financial Boot Camp: Investing Basics - new from YMYW TV
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Coach Dobber and his wife in Edina, Minnesota have a low mortgage interest rate and a decent amount of home equity. Should they put that equity to work and take the risk on buying a higher value home at a reduced price, even if it means a much higher interest rate and higher monthly payments too? Plus, Joe and Big Al spitball for Adam, in the birthplace of aviation, on the taxation of passive rental income, and capital gains from his portfolio and the sale of his business, prior to his early retirement. They also spitball for Charles in Idaho, on taxes on the sale of his mother-in-law’s house. And should Dan’s wife and business co-owner retire from the business and take Social Security Disability? And will Social Security be reduced for everyone? Steve in Vegas has a cautionary tale to tell.

Timestamps:

• 00:55 - Stay With a Low Mortgage Rate, or Buy Up at a Reduced Price? (Coach Dobber, Edina, MN)
• 16:10 - Early Retirement Taxes on Rental Income and Capital Gains? (Adam, Dayton, OH)
• 24:55 - How to Figure Taxes on Sale of Mom’s House (Charles, ID)
• 29:47 - Should Spouse and Business Co-Owner with Alzheimer’s Retire and Take Social Security Disability? (Dan, Midwest USA)
• 36:04 - Will Social Security Be Reduced for Everyone? A Cautionary Tale (Steve, Las Vegas)
• 44:17 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-448 

• 2023 Key Financial Data Guide
• EASIRetirement.com - new free retirement calculator!
• Social Security Handbook
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Can Sven and Olga in Minnesota shorten their working years? Should PJ in Michigan take his pension lump sum or the annuity payments, and should he maintain an aggressive asset allocation in retirement? Plus, the fellas spitball early retirement strategies for Joe in Massachusetts and Nick in California, and they discuss how to tell the difference between post-tax contributions and pre-tax funds converted to Roth at tax time for Victor. 

Timestamps:

• 00:45 - Can We Shorten Our Working Years? (Sven & Olga, MN)
• 07:50 - Pension Lump Sum or Annuity? Aggressive Asset Allocation in Retirement? (PJ, Michigan)
• 23:31 - Can We Retire at Ages 55 and 52? (Joe, MA)
• 29:54 - Help Me Spitball Some Retirement Goals (Nick, CA)
• 35:07 - Post-Tax Contributions and Pre-Tax Funds Converted: How to Tell the Difference? (Victor)
• 39:40 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-447 

• Retirement Income Strategies Guide
• Register for the Investing 101 webinar, Wednesday, Sept 27, 12pm PT
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Should Jackson and Elsa from Wyoming fire their financial advisors and shop for lower fees, or switch to do-it-yourself financial planning? Can 34-year-old Bob in Texas retire early at 50, and what’s the best way for him to put an extra $30K to work? How much should 35-year-old Matthew in the middle of nowhere Wisconsin be saving for retirement in pre-tax accounts vs. post-tax accounts? And finally, should Michelle in Minnesota leave excess education savings in a 529 plan or move it to a Roth IRA? 

Timestamps:

• 00:58 - Should We Fire Our Advisors and Go DIY or Shop for Lower Fees? (Jackson & Elsa, WY)
• 11:51 - Can We Retire at Age 50? Best Way to Put Extra $30K to Work? (Bob, TX)
• 19:51 - How Much Should We Save for Retirement Pre-Tax vs. Post-Tax? (Matthew, Middle of Nowhere, WI)
• 28:27 - Excess 529 Plan College Savings: Leave it or Move it to Roth? (Michelle, MN)
• 35:34 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-446

• DIY Retirement Guide - limited time offer, download by Friday 9/15/23!
• EASIRetirement.com - free retirement calculator
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

How will a diet COLA on a pension affect retirement plans for Joe and Barb in Tulsa? Percy in South Carolina has a pension too. He’s timing the market, but should he change his investing strategy as he approaches retirement? Plus, Michael in Virginia needs ideas to fund a custodial Roth IRA for his 3-year-old and 2-month-old kids, and Rocco in NYC catches Big Al on capital gains exclusions. But first, will scary future events mean Michelle in San Diego will have to pay more tax and the highest possible Medicare premiums?

Timestamps:

• 00:44 - Will Scary Future Events Mean Paying More Tax and Highest Medicare Premiums? (Michelle, San Diego)
• 10:46 - Market Timing, Pension & Roth Retirement Spitball (Percy, North Myrtle Beach, SC)
• 18:34 - FERS & Military Pension Diet COLA Retirement Spitball (Joe and Barb, Tulsa, OK)
• 26:49 - Can I Employ My 3-Year-Old and 2-Month-Old Kids to Fund a Custodial Roth IRA? (Michael, VA)
• 29:38 - Capital Gains Exclusion: Both Members of a Married Couple Need to Be on Title? (Rocco, NYC)
• 35:16 - COMMENT: Semi-Retired at 65 (Jetta Jay from Raleigh)
• 39:00 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-445

• EASIRetirement.com - new free retirement calculator!
• Retirement Rescue Plan - Your Money, Your Wealth TV
• Retirement Rescue Guide - limited-time offer, download by Friday 9/8/23
• Episode Transcript
• Ask Joe & Big Al On Air

Charles has had it with Joe and Big Al stumbling through the Roth 5-year rules, so he explains to Joe and Big Al, once and for all, the rules for withdrawing money from a Roth IRA. Plus, is Shane missing any retirement risks before he retires early at age 55? Nick wants to know if employers are required to adopt all of the provisions in the SECURE Act 2.0, or if they can pick and choose which to implement, like they can with the rule of 55? Plus, how can Stew offset huge capital gains on the sale of an inherited house, and we revisit whether George can move investments in-kind from an inherited trust to a brokerage account. 

Timestamps:

• 01:57 - Roth IRA 5-Year Rules for Withdrawals Explained (Charles)
• 10:39 - Any Retirement Risks I’m Missing Before I Retire at Age 55? (Shane, Chester County, PA)
• 16:42 - Do Employers Have to Adopt All of SECURE 2.0? (Nick, OH)
• 21:10 - How to Offset Huge Capital Gains Taxes on the Sale of an Inherited House? (Stew, Clairemont)
• 25:49 - Can I Move Investments In-Kind From Inherited Trust to Brokerage Account? (George, KS - from ep. 433)
• 34:02 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-444 

• EASIRetirement.com - new free retirement calculator!
• 5-Year Rules for Roth IRA Withdrawals Guide - free download
• SECURE Act 2.0 Guide - free download
• 6th Annual YMYW Podcast Survey - one randomly-chosen participant will win a $100 Amazon e-gift card!
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Harsh realities of life can very quickly change your retirement plans and your entire financial future. In this episode, Joe and Big Al spitball on dealing with these realities. What financial strategies can they suggest for William and his 33-year-old wife, who has metastatic breast cancer? Debbie and Emily each experienced the unexpected sudden passing of their partners. Is it possible to minimize the capital gains tax on Debbie’s son’s inheritance, and can Emily retire in a year? Josie has lousy longevity in her family and wants to plan for the worst case scenario of dying before her husband. Alfred is 81 and concerned that he’s going to run out of money before he runs out of time, and Richard has a sobering story that changed his thoughts about when to collect Social Security. Finally, Irene is subject to the Government Pension Offset (GPO) - can she withdraw the money she paid into Social Security? 

Timestamps:

• 01:03 - Financial Strategies for the Young and Disabled (William, TX)
• 08:16 - How to Minimize Son’s Capital Gains Tax on Inheritance (Debbie, HI)
• 14:37 - Can I Quit Work in a Year? Should I Do Roth Conversions? (Emily, Rochester, MN)
• 20:22 - Worst Case Scenario Retirement Spitball Analysis (Josie, Atlanta)
• 28:45 - Are We Going to Run Out of Money? How Much Can We Safely Withdraw? (Alfred Pennyworth)
• 32:35 - Life Lesson on When to Take Social Security (Richard)
• 40:15 - Can I Withdraw the $17,000 I Paid into Social Security? (Irene, Bremerton, WA)
• 46:00 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-443: 

• Estate Planning Organizer - free download
• Social Security Handbook - free download
• 6th Annual YMYW Podcast Survey - one randomly-chosen participant will win a $100 Amazon e-gift card!
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

What’s the best strategy for E-Dog’s restricted stock units with his employer, how are RSUs taxed, and how do Roth conversions fit into the mix? Plus, should Jay in Raleigh liquidate his annuities or follow “Stan the Annuity Man’s” advice and take the annual payments? Elisa wants to know how a mutual fund portfolio would work in retirement, and what’s a good way for listener Joe to invest in bonds in a taxable account to bring his portfolio back into proper balance? Finally, the fellas spitball on Medicare savings vs. Roth conversions for David, and an unrealized gain strategy on an UTMA education savings account for Jay in California.

Timestamps:

• 00:50 - Restricted Stock Units: RSU Spitball Analysis (E-Dog, Boulder, CO)
• 14:44 - Annuity Retirement Spitball Analysis (Jay, Raleigh, NC)
• 26:36 - How Would a Mutual Fund Portfolio Work in Retirement? (Elisa)
• 31:13 - Asset Location: How to Invest in Bonds in a Taxable Account to Rebalance? (Joe)
• 35:09 - Medicare Savings Vs. Roth Conversions (David, Logan, NM)
• 40:04 - UTMA College Savings Unrealized Gain Strategy (Jay, CA)
• 47:05 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-442

• Why Asset Location Matters - free guide
• 6th Annual YMYW Podcast Survey - one randomly-chosen participant will win a $100 Amazon e-gift card!
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Does the math work for Chris’ early retirement plan? What’s a safe retirement withdrawal rate for Luke, who wants to be part of the financial independence / retire early or FIRE movement - and what does Joe have against FIRE? Plus, Jake is about to change jobs, can Joe and Big Al uncover any tax planning opportunities for him? The fellas also explain capital gains tax for our buddy Carl Spackler, and they spitball on those capital gains when it comes to selling a house for Olga and for LJ, and Jim wonders about the impact of selling a house on Affordable Care Act subsidies. 

Timestamps:

• 00:54 - Early Retirement Spitball: Does the Math Work? (Chris, Philadelphia)
• 04:27 - FIRE Withdrawal Rate for Long-Term Capital Preservation? (Luke, Ft. Collins, CO)
• 14:26 - We’re 38 and 33. Any Tax Planning Opportunities Before I Change Jobs? (Jake, VA)
• 20:48 - Capital Gains Tax Explained (Carl Spackler, FL)
• 23:55 - House Sale Tax Strategy (Olga, Chula Vista)
• 26:32 - Do I Need to Worry About Investment Property Sale Proceeds? (LJ, Philadelphia)
• 30:46 - How Will Selling a Home Impact ACA Subsidies? (Jim, Santa Cruz)
• 35:52 - New One Star and Five Star Reviews
• 38:10 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-441 

• Guide to Cracking the Financial Code at Any Age
• FIRE interviews on YMYW
• Spitballing Retirement Planning in Your 30s (YMYW podcast 391)
• 6th Annual YMYW Podcast Survey - one randomly-chosen participant will win a $100 Amazon e-gift card!
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Christine isn’t sure that Roth conversions are all they’re cracked up to be. Erick needs a retirement spitball analysis for his Roth conversions, annuities, and the real estate in his self-directed IRA, Billy the disgruntled attorney wants to know if he can retire now, and Zach wonders just how bad is it to rely on the lottery for retirement? But first, Joe and Big Al spitball military retirement strategies.

Timestamps:

• 01:16 - I'm 22, Military. Should I Be Spending More Instead of Saving So Much? (Cole - voice)
• 06:19 - I'm 27. How Should I Max Out Military and Second Job Retirement Contributions? (Adam)
• 09:08 - Retiring With Pensions at Ages 59 & 63. Is Our Retirement Plan Sound? (Scott, AL)
• 16:55 - I’m Not Sure Roth Conversions Are as Good as They Sound! (Christine, Seattle)
• 26:44 - Roth Conversion, Annuities, Real Estate in Self-Directed IRA Strategy? (Erick, CA)
• 37:23 - Can a Disgruntled Attorney Quit and Retire Now? (Billy, Joplin, MO)
• 39:53 - Just How Bad an Idea Is Relying on the Lottery for Retirement? (Zach, Tuscaloosa, AL)
• 47:18 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-440:

• 6th Annual YMYW Podcast Survey - one randomly-chosen participant will win a $100 Amazon e-gift card!
• Financial benefits for military families
• 2023 Key Financial Data Guide
• Episode Transcript
• Ask Joe & Big Al On Air

Should Carl Spackler stick with his backdoor Roth strategy, or go for lower fees? Should Kevin go all Roth, or stick with his current three tax-diversified buckets strategy? (That depends - would he rather have $7 million tax-free, or $10 million in tax-deferred retirement accounts?) Can Lily claim all the extra allowances she can, to jam as much money as possible into her Roth? Can Dave retire now and ride his motorcycle into the Bavarian Alpine sunset, and does Peggy Lee need to be feverish about the tax underpayment penalty with her Roth strategy?

Timestamps:

• 00:53 - Do I Need to Worry About a Tax Underpayment Penalty with My Roth Strategy? (Peggy Lee, North Dakota)
• 07:17 - What Am I Doing Wrong? Can I Retire Now? What About Taxes? (Dave, Germany)
• 15:28 - Back Door Roth vs. Lower Fees: Which Would You Choose? (Carl Spackler, FL)
• 21:40 - Should We Go All Roth or Three Tax-Diversified Buckets? (Kevin, NJ )
• 28:53 - Can I Claim Extra Allowances to Contribute More to Roth IRA? (Lily, San Diego)
• 33:46 - Should I Split Money Between Multiple Brokerage Firms to Avoid Hacking? (Wesley from Unincorporated Gwinnett County, GA)
• 40:18 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-439 

• Register for the Q3 Financial Market Outlook live webinar, July 26, 2023, 12pm PT / 3pm ET
• The Ultimate Guide to Roth IRAs
• YMYW in US News and World Report’s Best Personal Finance Podcasts to Listen to in 2023
• Episode Transcript
• Big Al’s Island Studio (photo)
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Steven has got "one more year" syndrome. Can he retire at age 65? Today on Your Money, Your Wealth® podcast 438, Joe and Big Al spitball retirement for him, and for MB - can she and her husband live comfortably if she retires at age 59½? And for Johnny - does he have enough to fill the gap until retirement, and should his dad do Roth conversions before Johnny inherits his wealth? Is Austin maximizing his future gains by saving to his 401(k) at age 29, rather than his Roth IRA? But first, how can Mike and his wife leave their kids a lower tax bill when they pass?

Timestamps:

• 00:45 - How to Leave the Kids a Lower Tax Bill When We Pass? (Mike, Boerne, TX - voice)
• 04:24 - I Have "One More Year" Syndrome. Can I Retire at 65? (Steven, Exton, PA)
• 08:30 - Can We Live Comfortably If I Retire at 59½? (MB, Louisville, KY)
• 12:49 - Do I Have Enough to Fill the Gap Until Retirement? Should Dad Convert My Inheritance to Roth? (Johnny, El Dorado, CA)
• 21:49 - Am I Maximizing Future Gains By Saving to Pre-Tax 401(k)? (Austin, Naples, FL)
• 29:42 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-438 

• Retirement Lifestyles Guide
• Register for the Q3 Financial Markets Outlook live webinar, July 26, 2023, 12pm PT / 3pm ET
• Episode Transcript
• Ask Joe & Big Al On Air

YMYW listener Alan feels that there are two unspoken assumptions that many different podcasters make when it comes to claiming Social Security benefits. Joe and Big Al spitball on those assumptions, along with safe retirement withdrawal rates before and after Social Security and pension for Rick and Jen, and a thrift savings plan (TSP) and Social Security retirement strategy for Theresa. Plus, Mark and his wife are semi-retired at 51 and 44. Are they going to run out of money? Where should Mary be saving for retirement, and how should she handle large Roth conversions before required minimum distributions (RMDs) kick in?

Timestamps:

• 00:45 - Unspoken Assumptions About Collecting Social Security? (Alan, Daufuskie Island, SC)
• 09:38 - Safe Withdrawal Rates Before and After Social Security & Pension (Rick & Jen, Atwater, OH)
• 19:25 - Thrift Savings Plan and Social Security Retirement Strategy (“Theresa”)
• 29:28 - Retirement Spitball: Will We Run Out of Money? (Mark, St. George, UT)
• 37:37 - Where to Save for Retirement and Roth Conversions Prior to RMDs? (Mary, small town Indiana)
• 47:54 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-437 

• Social Security Handbook
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis

It’s a common question: should you pay off your mortgage when you have extra cash, or invest for retirement? Joe and Big Al spitball on how Ms. Moneybags and her wife-to-be should use their upcoming windfall. Plus, what should Bob’s asset allocation be as he nears retirement? Should Harley and Harlene do Roth conversions after tax rates increase, and should they take advantage of net unrealized appreciation (NUA) on Harlene’s company stock? Pete needs a 13 year retirement plan sanity check, Lauren wants to know if she can retire early or at least go part time, and Michael and Carol want the fellas to spitball whether they’re on track for retirement. 

Timestamps:

• 00:57 - Should We Pay Off the Mortgage or Invest Our Windfall On the Way? (Ms. Money Bags)
• 09:00 - What Should My Asset Allocation Be When Nearing Retirement? (Bob in New York)
• 17:21 - Should We Convert to Roth After Tax Rates Go Up? Should We Leverage NUA? (Harley)
• 29:04 - 10-13 Year Retirement Plan Spitball Sanity Check (Pete, AL)
• 38:15 - Can I Retire Early or Go Part Time and Stop Contributing to 401(k)? (Lauren, IL)
• 43:17 - Retirement Spitball: Are We On Track? (Michael & Carol, Las Vegas)
• 48:24 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw_436 

• Portfolio Tracker: How to Manage Your Assets at Any Age
• Episode Transcript
• Ask Joe & Big Al On Air

A little ditty about Jack and Diane, who will eventually inherit about $4.5M from Diane’s parents. How do they manage the required minimum distributions? Which of three options should Matt take with his inherited IRA? Making the most of your inheritance today on YMYW 435. Plus, Clay wants to know if it’s a good idea to take money off the table and rebalance to safer or more aggressive investments, depending on your risk tolerance? Can Elizabeth offset pre-tax IRA losses with the gains from the sale of rental real estate? Is it true that you can make one time contributions from your IRA to your HSA that is, your health savings account? And finally, can Cory gift stock to his daughters and avoid paying the kiddie tax as a way to pay for college? And can Rich supercharge a 529 college savings plan with himself as beneficiary?

Timestamps:

• 00:58 - How Do We Manage RMDs on a Pending Inheritance? (Jack & Diane)
• 11:31 - Which of 3 Options Should I Take With This Inherited IRA? (Matt, San Diego)
• 18:57 - Should I Take Money Off the Table and Rebalance to Safety? (Clay, Westerville (Columbus), OH)
• 23:50 - Can I Offset Pre-Tax IRA Losses With Gains from the Sale of Rental Real Estate? (Elizabeth, Lake Forest)
• 26:43 - Is It True We Can Make One Time Contributions From IRA to HSA? (Scott, NC)
• 32:06 - How to Pay for College: Gifting Stock and Avoiding the Kiddie Tax? (Cory, Bethesda, MD)
• 36:16 - Should I Supercharge a 529 Plan With Myself as Beneficiary? (Rich, NY)
• 41:17 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-435 

• Estate Planning Organizer
• Emotional Investing - YMYW TV
• Emotionless Investing Guide
• Episode Transcript
• Ask Joe & Big Al On Air

Joe and Big Al spitball five different retirement plans: is Jaybird on track to retire with a decent nest egg? Should Ted and his wife use the retirement smile spending pattern and spend more early in retirement? Is it safe for Aaron to retire at age 59 and a half? How much can Karla convert to Roth for the most tax-efficient retirement withdrawal plan? LEO Jay has Roth TSP retirement strategy questions, and Lynn suggests a super-easy Roth conversion calculator - but Big Al’s got an even easier idea. 

Timestamps:

• 00:44 - Are We On Track to Retire With a Decent Nest Egg? (Jaybird, Penciltucky - PA)
• 08:57 - Retirement “Smile”: Should We Spend More Early in Retirement? (Ted)
• 16:57 - Is it Safe to Retire at Age 59 and a Half? (Aaron, suburb of Philadelphia)
• 25:42 - Spitball My Tax-Efficient Withdrawal Plan: How Much Roth Conversion? ("Karla", New York City)
• 34:21 - Should I Max Roth TSP and Retire at 50? When Can I Withdraw from Roth TSP? (Jay, San Diego)
• 37:00 - Super Easy Roth IRA Conversion Calculator (Lynn)
• 42:51 - The Derails

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-434 

• Retirement Pop Quiz: test your retirement knowledge
• Retirement Readiness Guide
• Episode Transcript
• Ask Joe & Big Al On Air - get your own Retirement Spitball Analysis

How does bonus accelerated depreciation work when it comes to commercial real estate? Is real estate a good source of retirement income, and can it take the place of safe assets like bonds in your investment portfolio? Plus, can investments be transferred in-kind from an inherited trust to a brokerage account? And what tips do the fellas have for ace-ing the CFP exam and launching a career as a financial advisor? 

Timestamps:

• 00:43 - Bonus Accelerated Depreciation on Commercial Real Estate Purchase (Papa Joe, Naples, FL)
• 07:04 - Is Real Estate a Good Investment for Retirement Income? (Doctor Jerry, Waco, TX - from episode 426)
• 13:00 - Is Real Estate a Substitute for Bonds in a Diversified Investment Portfolio? (Don, VA - from episode 416)
• 17:08 - Can I Move Investments In-Kind From Inherited Trust to Brokerage Account? (George, KS)
• 24:15 - Tips for Taking the CFP Exam and Building a Career as a Financial Advisor (Craig, St. Clairsville, OH)

Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-433 

• Real Estate Retirement Income Webinar - Wednesday June 21, 2023, 12pm PT/3pm ET - register now
• 10 Tips for Real Estate Investors Guide
• Episode Transcript
• Ask Joe & Big Al On Air for your Retirement Spitball Analysis