Today on Your Money, Your Wealth® podcast 372 with Joe Anderson CFP® and Big Al Clopine, CPA: Spitballing retirement for a police officer turning teacher, a self-employed small business owner, an early retiree with an employee stock ownership plan (ESOP) wanting to do Roth conversions and withdraw 5 or 6% in retirement, and a pension and Social Security analysis. Plus, how many months of expenses should you save in your emergency fund? Also, you may know where Ric Edelman and Dave Ramsey stand on 15 vs. 30 year mortgages and using cash vs. credit, but what does YMYW think? Kyle Stacey, CFP® fills in with Big Al Clopine while Joe Anderson is on vacation.Show notes, free financial resources, Ask Joe & Al On Air: 00:00 - Intro 00:53 - Police Retirement Spitball Analysis (Tim, Holliston, MA) 09:42 - ESOP to Roth Conversion and 5% Withdrawals in Early Retirement? (Mike) 19:09 - Download Cracking the Financial Code at Any Age for Financial Literacy Month: 20:18 - Self-Employed Retirement Spitball Analysis (Heather) 30:42 - Pension and Social Security Spitball Analysis (David) 35:35 - Schedule your Social Security Analyzer: email info@purefinancial.com or call (888) 994-6257 37:11 - How Much Should You Have in an Emergency Fund? (James, Detroit, MI) 42:01 - Ramsey vs. Edelman vs YMYW: 15 or 30 Year Mortgage? Cash or Credit? (Daniel, Camp Lejeune, NC) 49:26 - Comment: Social Security File & Suspend, Restricted Application (Schweta) 56:51 - The Derails Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation. Schedule a free assessment with any one of our experienced financial professionals: Office locations: Ask Joe & Big Al On Air: Subscribe to our YouTube channel: Subscribe to the Your Money, Your Wealth® podcast: IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor. • Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors. CFP® - The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation. AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation. CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period. #RetirementPlanning #SocialSecurity #PersonalFinance #RetirementSpitball...(read more)
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Retirement planning is a crucial part of financial security for many people. With the right strategies and resources, individuals can create a secure retirement for themselves. In this episode of the Your Money, Your Wealth® podcast, hosts Joe Anderson, CFP® and Big Al Clopine, CPA discuss retirement planning for Social Security, pensions, and self-employed individuals. Social Security is an important source of retirement income for many Americans. Joe and Big Al discuss the importance of understanding and planning for Social Security benefits. They explain the importance of filing for Social Security at the right time, as well as the importance of understanding the rules and regulations associated with Social Security. They also discuss strategies for maximizing Social Security benefits. Pensions are another important source of retirement income. Joe and Big Al discuss the different types of pensions, including defined benefit and defined contribution plans. They explain the importance of understanding the rules and regulations associated with pensions, as well as strategies for maximizing pension benefits. They also discuss the importance of carefully considering the options when deciding whether to take a lump sum or an annuity. For those who are self-employed, retirement planning is even more important. Joe and Big Al explain the importance of setting up a retirement plan, such as a SEP IRA or solo 401(k). They discuss the importance of understanding the rules and regulations associated with these plans, as well as strategies for maximizing contributions. They also explain the importance of diversifying investments and understanding how taxes affect retirement planning. Joe and Big Al provide valuable insight into retirement planning for Social Security, pensions, and self-employed individuals. With the right strategies and resources, individuals can create a secure retirement for themselves. It is important to understand the rules and regulations associated with each type of retirement plan, as well as strategies for maximizing benefits. By understanding the options and planning accordingly, individuals can create a secure retirement for themselves. https://inflationprotection.org/retirement-spitball-social-security-pension-self-employed-your-money-your-wealth-podcast-372/?feed_id=70813&_unique_id=63ece691575bc #Inflation #Retirement #GoldIRA #Wealth #Investing #AlanClopine #BigAlClopine #daveramsey #EarlyRetirement #emergencyfund #employeestockownershipplan #ESOP #financialliteracy #financialliteracymonth #JoeAnderson #kylestacey #pension #personalfinance #personalfinance101 #personalfinancetips #Retirement #retirementplanning #retirementspitball #RicEdelman #rothconversion #RothIRA #rothiraconversion #selfemployedretirement #SEPretirement #socialsecurity #Solo401k #TaxPlanning #taxes #RetirementPension #AlanClopine #BigAlClopine #daveramsey #EarlyRetirement #emergencyfund #employeestockownershipplan #ESOP #financialliteracy #financialliteracymonth #JoeAnderson #kylestacey #pension #personalfinance #personalfinance101 #personalfinancetips #Retirement #retirementplanning #retirementspitball #RicEdelman #rothconversion #RothIRA #rothiraconversion #selfemployedretirement #SEPretirement #socialsecurity #Solo401k #TaxPlanning #taxes
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