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cover of episode How to Retire ASAP - and Where to Save to Get There - 505

How to Retire ASAP - and Where to Save to Get There - 505

2024/11/26
logo of podcast Your Money, Your Wealth

Your Money, Your Wealth
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Ricochet J
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Joe Anderson和Big Al Clopine讨论了一对夫妇尽早退休的可能性，分析了他们目前的财务状况，包括收入、储蓄、房产等，并就将剩余资金投资于经纪账户还是个人401(k)账户提出了建议。他们还评估了这对夫妇的退休支出，并根据他们的目标和风险承受能力，对他们的退休计划的可行性进行了评估。 Ricochet J详细描述了他们家庭的财务状况，包括收入、现有储蓄、房产、以及子女教育费用等。她提出了关于投资策略的问题，希望获得关于如何更好地规划退休资金的建议，并希望在尽早退休的同时，能够维持他们目前的生活水平，并实现环球旅行的梦想。

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Chapters
Ricochet J and her husband want to retire as soon as possible. They are considering whether to save surplus funds in a brokerage account or a solo 401(k). Joe and Big Al provide insights on their financial situation and potential retirement strategies.
  • Ricochet J and her husband have a combined income of $200,000 and plan to increase savings.
  • They have retirement savings of $285,000, including Roth and traditional accounts.
  • Joe and Big Al suggest focusing on a solo 401(k) for tax-free withdrawals and recommend a target of $1.5 million for a comfortable retirement.

Shownotes Transcript

Ricochet J in Colorado and her husband want to retire as soon as humanly possible. Are they on track? Should they save their surplus funds to a brokerage account or a solo 401(k)? That’s today on Your Money, Your Wealth® podcast 505 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Micah in South Dakota wonders whether having a $40,000 a year pension is basically the same as having a million dollars in bonds, according to the four percent rule. What do Joe and Big Al think? Barney and Betty will be in the 12% or 22% marginal tax bracket, but their effective tax rate will only be between 10% and 12.4%, so how much should they convert to Roth? Are they asking the right question? And finally, Joe and Big Al spitball on ways to ensure that Amir in New Mexico has the maximum possible retirement income to last him to age 90 or 95. Access all the free financial resources and the episode transcript: https://bit.ly/ymyw-505) DOWNLOAD The Complete Roth Papers Package) for free WATCH Your 11-Step Path to Financial Freedom) on YMYW TV CALCULATE your free Retirement Spitball Analysis) REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis) SCHEDULE: free financial assessment) SUBSCRIBE: YMYW on YouTube) DOWNLOAD: more free guides) READ: financial blogs) WATCH: educational videos) SUBSCRIBE: YMYW Newsletter) Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:04 - Save to Brokerage vs. Solo 401(k) to Retire as Soon as Humanly Possible? (Ricochet J, CO) 15:23 - Watch Your 11 Step Path to Financial Freedom on YMYW TV, Calculate your free Financial Blueprint 16:36 - Is a $40K/yr Pension Similar to $1M in Bonds According to the 4% Rule? (Micah, SD) 18:48 - Marginal vs. Effective Tax Rates: How Much to Convert to Roth? (Barney & Betty) 22:58 - Download the Complete Roth Papers Package 23:48 - How to Have Maximum Possible Retirement Income to Age 90-95? (Amir, NM) 30:13 - Outro - Next Week on the YMYW Podcast