48 and Worried About Early Retirement? This Changes the Math - 565

Summary

Podcast Summary: Your Money, Your Wealth

Episode 565: Early Retirement at 50 with $5M – Rule of 55 and 72(t)

Release Date: January 20, 2026
Hosts: Joe Anderson, CFP® & Alan “Big Al” Clopine, CPA

Episode Overview

This episode dives deep into the challenges—and possibilities—of early retirement, spitballing for a listener (“Lucky Lou”) who wants to retire at 50 with $5M in assets. Joe and Big Al also tackle questions from high-earning young savers, Roth vs. traditional 401(k) strategies in a state that doesn’t tax retirement income, the economics of first-time home buying in Seattle, and inherited IRA withdrawal strategies. As usual, the tone is energetic, irreverent, and practical, filled with quips, real-life money advice, and a hearty dose of financial humor.

---

Main Segment: Can Lucky Lou Retire Early at 50 with $5 Million?

[01:04 – 09:37]

Case Overview

• Listener: “Lucky Lou,” 48, burned out, wants to “punch” at 50.
• Assets:
  • $2.5M in 401(k)
  • $500K in Roth
  • $1.5M in taxable brokerage
  • House: $2.2M value, $700K mortgage (2.75% rate)
  • 529s fully funded for two kids
• Income: $1M/year
• Saving: Maxing out 401(k), doing backdoor Roths, saving ~$150K/year in taxable
• Pension: $13,000/month available at 55
• Social Security: ~$5,800/month at 67
• Target Spend: $240K/year after tax

Key Issues & Host Analysis

Access to Retirement Accounts Before 59½

• Rule of 55: Only applies if you leave your job at 55 or older, so Lou retiring at 50 doesn't qualify ([03:36]).
  • Quote: “The 59½ thing is like a federal law… 55 would be the rule of 55 if he separates at 55.” — Joe ([03:38])
• Bridge Strategy: Plan to spend down taxable brokerage until pension at 55, then access 401(k) at 59½.

Will the Money Last?

• Big Al’s Math: Projecting growth and savings to have ~$5.4M at retirement, using 6% returns.
  • Taking $240K/year for 5 years still leaves a surplus. After pension at 55, withdrawal rate needed is only ~2.5% ([05:12]).
  • Quote: “That’s about a 2.5% distribution rate, which I think I’m OK with.” — Big Al ([05:17])
• Joe’s Reality Check: The challenge is psychological—watching $1.5M taxable shrink:
  • Quote: “You look at your brokerage statement and see that $1.5 [million] going to $500,000 over a short period of time—It’s tough.” — Joe ([06:52])

Accessing IRA Early: 72(t)

• Big Al Suggests: Consider Section 72(t) / SEPP to create “substantially equal periodic payments” from the IRA before 59½, penalty-free ([05:39]).
  • Quote: “This is a case … I might even do a 72(t) … it’s not all coming out of the taxable.” — Big Al ([05:39])
• How it Works: Must follow a set schedule for withdrawals, not flexible, online calculators can help determine the amount ([07:09]).

Other Considerations

• Every year of work gives more cushion: Work to 51 or 52 if possible.
• Actual spending may be higher than estimated. Importance of accurate budgeting.
• Big psychological hurdle for a high earner to stop working suddenly: Consider part-time or less stressful work in early retirement ([08:50]).

Memorable Moments/Quotes:

• Joe: “On paper it probably jives, but in real life…” ([06:27])
• Big Al: “If you see your taxable account going down, now I assumed everything else would go up at 6%—what if the market drops 20% two years in a row?” ([08:11])
• Joe: “He’s 48, makes over a million a year, and has $5 million saved… I don’t know if you just stop.” ([08:56])

Verdict

It works on paper. Lou has enough, as long as he monitors spending, remains flexible, and possibly utilizes 72(t) to spread withdrawals. “Every extra year you work gives you more cushion.”

---

Q&A: Aggressive Saving and Retirement Priorities for Young High Earners

[10:58 – 17:46]

• Listener(s): Alexi (26) & Anna (25), Cincinnati. High earners; want to save aggressively and keep taxes low; interested in down payment on a home.
• Assets: $8K in pre-tax 401(k), $27K brokerage, $8K debts. Maxing 401(k), considering backdoor Roths; annual income $175K & $70K.

Hosts’ Advice

• Prioritize maxing out 401(k)s (prefer Roth, since taxes will likely go up as income increases).
  • Quote: “If the company had a 401, I would try to max out the 401. I’d probably go with the Roth option, being that they’re young.” — Big Al ([14:39])
• Use backdoor Roth if income is too high for regular Roth IRAs.
• Save for an emergency fund AND house downpayment (average Cincinnati home $250–285K; need ~$50K down).
• Joe: “If you can get to where you’re saving 20% of your income… you’ll have a lot of options in retirement.” ([15:28])
• Calculation: Save $50K/year for 30 years at 7% = $5M nest egg.

---

Q&A: Roth vs. Traditional 401(k) in Illinois—No State Tax on Retirement Income

[18:04 – 27:15]

• Listener: Jay (52) & Gloria (41), “People’s Republic of Illinois.”
• Situation: $1.2M traditional 401(k), $100K Roth 401(k), $30K taxable; $300K+ annual income, expect $84K annual retirement spending; Social Security + partial retirement planned.
• Question: Should I shift from Roth 401(k) to pre-tax 401(k) since Illinois doesn’t tax retirement income?

Hosts’ Take

• Big Al: Contribute to pre-tax 401(k), avoid the 5% state tax now, then pay none in retirement ([22:58]).
  • Quote: “If I was going to stay in Illinois, I would actually switch to the taxable 401.” ([22:58])
• Strongly recommend using any tax savings to fund a backdoor Roth.
  • Quote: “Most people don’t save the tax benefit… but he’s saving the $8,000 of tax benefit into the Roth.” — Joe ([25:14])
• Reality check: Confirm real spending numbers. Hosts suspect expenses may be underreported.
• “Tax diversification” is valuable. Consider splitting contributions between pre-tax and Roth if possible ([26:51]).

---

Q&A: Can a 28-Year-Old Single Woman Afford a Condo in Seattle?

[28:22 – 37:13]

• Listener: “Sleepless in Seattle,” mom of a 28-year-old; median Seattle condo = $628K; daughter has $158K in savings/investments; salary ~$6K/month.
• Question: Advice for breaking into a high-cost market? First-time home buyer programs? Rent vs. buy?

Hosts’ Take

• Acknowledgement: Daughter is a phenomenal saver for her age ([32:21]).
• Numbers: Needs ~$125K down for 20% on a condo; already has $107K.
• Monthly payment for a $500K mortgage at 6%: ~$3,000 + property tax—comparable to rent.
• Old school advice: Buying is still a solid long-term strategy in appreciating markets.
  • Big Al: “Buying real estate in an area that appreciates is a great thing to do. Everyone should try to aspire to that… if you can get in.” ([33:50])
• Tactical advice: Wait to buy if rates high, but don’t wait too long; refinance later if rates drop.
• First-time homebuyer programs:
  • Look into Washington State Housing Finance Commission for grants and down payment assistance.
  • Federal FHA loans or VA if military.
  • Can use $10K penalty-free from IRA for first home.
  • Get pre-approved with a mortgage broker to understand budget; only then work with a real estate agent ([36:52]).

---

Q&A: Inherited IRA—Withdrawals Under the 10-Year Rule

[37:13 – 41:03]

• Listener: Jennifer in Texas, 43, inherited two traditional IRAs from her father, must withdraw over 10 years.
• Question: Best method for investing/drawing down inherited IRA for most growth and least tax?

Hosts’ Take

• Investment: Stay simple; favor total stock market index (VTI) for growth, skip complex target date funds ([40:01]).
• Withdrawal: Take Required Minimum Distributions (RMDs), possibly MORE than minimum if in a lower tax bracket to avoid a big tax hit in year 10.
  • Big Al: “If you do that minimum amount each year for nine years, the 10th year you’re going to have to take all the rest out—might push you into a higher bracket.” ([40:26])
• Strategy: After-tax RMDs can be reinvested in a Roth IRA.

---

Notable Quotes & Memorable Moments

• Joe (on psychological hurdles of early retirement):
  • “On paper it probably jives, but in real life...” ([06:27])
• Big Al (on 72(t)):
  • “This is maybe one of the few cases I've seen where that could work.” ([07:55])
• Joe (on budgeting):
  • “If you’re making $300,000+ and only spending $84,000, you’d have more than $30,000 in cash.” ([23:41])

---

Timestamps of Key Segments

• [01:04] – [09:37]: Can Lucky Lou retire at 50? Rule of 55, 72(t), and bridging withdrawal gaps.
• [10:58] – [17:46]: Young couple’s aggressive savings and account prioritization.
• [18:04] – [27:15]: Roth vs. pre-tax 401(k) in Illinois, state tax-planning strategies.
• [28:22] – [37:13]: Can a 28-year-old afford a condo in Seattle? First-time homebuyer strategies.
• [37:13] – [41:03]: Inherited IRA drawdown strategies under the SECURE Act’s 10-year rule.

---

Final Thoughts

This episode hands out actionable strategies for major retirement, tax, and investing milestones—all delivered in YMYW’s trademark witty, relaxed style. Whether it’s retiring early with millions, maximizing young savers’ potential, leveraging state-specific tax laws, entering expensive housing markets, or managing inherited assets, Joe and Big Al provide a blend of big-picture guidance and in-the-weeds analysis—with a laugh along the way.

Memorable Closing:
“Every year you add, it’s helpful… But the numbers probably do work.” — Big Al ([09:21])

---

Want your own “spitball analysis”? Submit your question at YourMoneyYourWealth.com.

Transcript

[Andi Last]

Lucky Lou is 48, burned out and wants to punch at 50. How should he bridge the gap before pensions and Social Security? Joe and Big Al walk through the rule of 55, 72 ts and the psychological reality of spending down a taxable account. Today on youn Money, you, wealth podcast number 565. Alexi and Anna are high earners in their mid twenties who want to save aggressively and keep taxes low. Which retirement accounts should they prioritize? And can they afford a down payment on a house? Jay and Gloria are wrestling with the classic question of what whether to save to roth or traditional 401k, especially since their state doesn't tax retirement income. Is taking the deduction now and backdooring Roths the smarter move. Plus Sleepless in Seattle wants to know, can her 28 year old daughter afford to buy a condo in a high cost housing market? Finally, Jennifer in Texas wonders how to invest and withdraw an inherited IRA over the 10 year rule with the least tax damage. I'm executive producer Andi Last, and here are the hosts of youf Money, you, Wealth, Joe Anderson, CFP and Big Al Clopine. CPA.

[Joe Anderson]

Lucy Liu is up next. We got lucky. Lucky Lou. Lucky Lou. Hi, Joe, Big Al. I'm a new listener of the show and absolutely love it. Wow. We got a new one.

[Big Al Clopine]

We do.

[Joe Anderson]

We lose more on the the back door.

[Big Al Clopine]

We're net. We're net. Negative.

[Joe Anderson]

Oh, just wait. She won't love it for long. Yep, a little quick history. I've been with the Same company for 26 years and have been lucky to climb the ladder. So much so that I have a high paying job that brings in lots of money. Around a million dollars a year. Wow. Lucky Lou.

[Big Al Clopine]

That's amazing.

[Joe Anderson]

But also has really worn me down. Realize a lot of people would be thrilled with this position, but man, I'm tired. Wife stays at home. We're both 48 years old, we have two kids. One's in college, one's in high school. We have 529s and they are funded to cover both of their colleges.

[Big Al Clopine]

Okay.

[Joe Anderson]

I drink a little bourbon in the winter, tequila in the summer. Wife loves a white wine or a margarita. Here's the spitball they would like. Am I in the position to retire way early?

[Big Al Clopine]

Way early.

[Joe Anderson]

All right. He wants me. He wants to punch at 50.

[Big Al Clopine]

Yeah. Two years from now.

[Joe Anderson]

Okay. I have two and a half million dollars in a 401K, $500,000 in a Roth, and one and a half million dollars in a taxable brokerage account. That's so far, so Good.

[Big Al Clopine]

That's about $4,500,000. I like those numbers.

[Joe Anderson]

All right. House is worth $2,200,000 and has a mortgage of $700,000. That is 2.75%. At the age of 55, I'll be able to get a pension of about $13,000 per month.

[Big Al Clopine]

Wow.

[Joe Anderson]

Okay, that's rich.

[Big Al Clopine]

Like it.

[Joe Anderson]

Assuming I work two more years at 67, my wife and I will get approximately $5,800 a month from Social Security for the next two years. I will max out my 401, contribute to IRAs and backdoor convert them for both being the wife and save approximately $150,000 a year into the taxable brokerage account. Plan would be to spend down the brokerage until the pension kicks in at 55, then can have access to my 401 at 57 and a half. Okay. We need approximately $240,000 per year after tax to live the lifestyle we want. So can I quit two years? If not, how much longer do I got to work? Thanks so much, Lucky Lou.

[Big Al Clopine]

Lucky Lou. Well, first of all, access is at 59 and 59 and a half.

[Joe Anderson]

So he's got a little bit bigger bridge.

[Big Al Clopine]

A little bit.

[Andi Last]

There's not some chance that somebody has a weird plan that allows you to access at 57 and a half.

[Joe Anderson]

Right.

[Andi Last]

The 59 and a half thing is.

[Big Al Clopine]

Like a federal law that's an IRS regulation. You can, you can access it. 55.

[Joe Anderson]

He's got a 457.

[Big Al Clopine]

If you, if you retire at age 50.

[Joe Anderson]

He didn't pay 457. It's 401k. So, yeah, 55 would be the rule of 55. If he separates that 55 and he.

[Big Al Clopine]

Wants to retire at 50. So it's not going to happen.

[Joe Anderson]

Yeah, Okay. I think he's spending more than 240 a year, but that's still a rich number.

[Big Al Clopine]

Yeah, you may be. Of course, we don't know how long he's been making a million dollars, but I did a little math here on this, Joe, so you can come up with your analysis in a second. But here's what I did. So 4.5 million currently, I said, okay, two years from now, I just use a conservative 6% interest rate. I added 190,000 of savings, the amount going into brokerage, about $150,000, and then almost $40,000 to the 401 and Roth IRAs. So they end up with $5,400,000. So that's pretty good. And then what I did, Joe, is I took $5,400,000, 6% for five years, and I subtracted $240,000 as a negative, and then I ended up with $5,900,000. In other words, he ends up with a little bit more than what he started with at a 6% rate of return. So then I took the $5,900,000 and I said, okay, what's your spending going? 240 becomes $300,000 at a 3% inflation rate.

[Joe Anderson]

What year are you in now?

[Big Al Clopine]

Five years. Well, in seven years from now.

[Joe Anderson]

So that is when he turns 55 for his pension to come in.

[Big Al Clopine]

That's right.

[Joe Anderson]

So the spending needed at his pension amount is 300.

[Big Al Clopine]

Yeah, spending 300. His pension is 150. Shortfall is 150, which is about a 2.5% distribution rate, which I think I'm okay with.

[Joe Anderson]

Yeah.

[Big Al Clopine]

So I think this works. Now, what's difficult, though, is the bridge to get to 59 and a half. And this is a case, Joe, where I might even do a 72T.

[Joe Anderson]

Ooh, wow. Now we're talking.

[Big Al Clopine]

Because with a 72T, you can access your IRA early. It's not going to be enough to cover your retirement, but at least you can get it out. You pay taxes on it, but you're not penalized. And as long as you do it to age 59 and a half or five years, whichever is longer, you're okay. And I think this would be a case where that might make sense, because then it's not all coming out of the taxable, which I don't know, that there's enough to bridge that for ten years. Nine and a half.

[Joe Anderson]

Yeah. No, I agree.

[Big Al Clopine]

I think another thing I would say, I mean, every extra year at this point, you work, it just gives you more cushion. Maybe you work to 51, 52, but I think the numbers work. Even at 50, you have.

[Joe Anderson]

I think on paper it probably jives, but in real life.

[Big Al Clopine]

Well, you may have to.

[Joe Anderson]

He's going to see that $1.5 million taxable account. People look at their accounts differently.

[Big Al Clopine]

I know. It goes right.

[Joe Anderson]

So you look at your retirement accounts like, oh, I want to defer and defer, defer that. I don't want to touch it, because that's for retirement. But then you look at your brokerage statement, and all of a sudden you see that 1.5 going to 500,000 over a short period of time.

[Big Al Clopine]

It's tough. Yeah.

[Joe Anderson]

It's like, oh, man, there's my Cushion everything that you have is retirement accounts.

[Big Al Clopine]

And then it's you're it all ordinary income. Now, you could convert, but then you don't have money to pay the taxes. That's why I think I would do. If I was going to do this, I'd probably do a 72T election.

[Joe Anderson]

Yeah. So 72T tax election, Sepp. Right. Separate, equal periodic payments. There's three ways to calculate it. So you could go online and just type in Sepp or 72T. And then there's an annuitization. What? Amortization.

[Big Al Clopine]

And the third one.

[Joe Anderson]

Yeah, the third one, withdrawal. Whatever it is, it's going to spit out like a certain dollar figure. So it's not like you can grab whatever dollars that you want to avoid the 10% penalty. You have to follow a certain schedule. And in most cases, it's probably not going to be enough to cover everything. But he does have 1,500,000 in the tax bill. So you can mix it up a little bit, but you have to take that money out until 59 and a half. So I think that works.

[Big Al Clopine]

Yeah, yeah, I think so, too. I mean, this is maybe one of the few cases I've seen where that could work. Now, what you were saying, Joe, is like, if you see your taxable account going down now, I assumed everything else would go up 6%. What if the market drops 20% two years in a row?

[Joe Anderson]

But if I'm pulling that much money out, $240,000 out of the 1.5, that's not growing at 6 because I got to have a lot of nifty.

[Big Al Clopine]

No, that's right. I mean, this is just a general. Right, of course, you know, but yeah, I think on paper it does work. It's one of those things where you're just going to have to monitor, I guess, as you go. But, yeah, I think you got enough assets, and I think, boy, you're saving a lot. I do agree with Joe. Are you sure that's what you're spending? So make sure of that to continue your lifestyle. But, yeah, I think you could potentially do this.

[Joe Anderson]

What is he going to do, 50?

[Big Al Clopine]

Well, see, that's another thing. We didn't even address that. So. So the thing that a hard charger retired 50, just all of a sudden.

[Joe Anderson]

He'S 48 years old, makes over a million dollars a year and has $5 million saved. Yeah, I don't know. You just stop.

[Big Al Clopine]

It's hard. I. I suspect what will happen, Lucky Lou, is you may want to go back to work, maybe in a less stressful job. And, and that's okay. Right? But it's up to you. I think this, I think the numbers probably do work, though.

[Joe Anderson]

Oh, yeah. I don't know that. I'm just putting myself in his shoes right now.

[Big Al Clopine]

And I'm like, well, that's why I say if you could go an extra year or two, you know, every year you, you add, it's, it's, it's helpful.

[Joe Anderson]

Okay, good luck. I'm glad you enjoy the show. Hopefully you stick around a little better than most, at least to see the answer.

[Andi Last]

The decisions you make in that final working stretch, everything from when you claim Social Security to how you structure your savings and spending and even the order of account withdrawals determine what kind of lifestyle you enjoy. Once you punch the clock for the last time, it's not just about having enough money. It's making the money work so that you can live the retirement you've dreamed of. This week on youn Money, you, Wealth tv, Joe and Big Al count you down to retirement with the must do preparations that'll get you ready to punch the clock for the final time. Watch the last five years before retirement will decide your lifestyle. Here's how on YMYW tv. The link is in the episode description. Next, calculate your free financial blueprint and see if you're on track for that big day. From a financial perspective, just input your income and savings, investments and debt, and your expenses and goals. The financial blueprint tool will analyze your current cash flow, your assets and your projected spending for retirement, and output a detailed report outlining what you can do now to help you achieve those retirement goals. Minimize stress, maximize life, and prepare for the future. To start taking control of your retirement, just click or tap the financial blueprint link in the episode description. We got Alexi, Alexi and Anna, his wife. This is a reference to Tolstoy's novel Anna Karenina.

[Big Al Clopine]

Wow. Okay.

[Andi Last]

Getting a little erudite for the YMYW crew here.

[Big Al Clopine]

We're going with Alexa, Alexi.

[Joe Anderson]

Alexi, did you have to look. Look that up or did they. Or did you know that off the top of your head?

[Andi Last]

No, I had to look that up. I had to look that up.

[Joe Anderson]

Hey, Joe. Big Al. I've been listening to your show for about two and a half years at the constant prodding of my now retired father, who spends the word of the Roth account in the backdoor Roth conversions like the word of Christ.

[Big Al Clopine]

Wow, that's. I wonder if he gets up at the pulpit.

[Joe Anderson]

He might.

[Big Al Clopine]

All right. Okay. Well, I'M starting to see that image, you know. Okay.

[Joe Anderson]

I live in Cincinnati, Ohio with my wife Anna. I drive a 2017 Toyota Corolla and she drives a 2019 Volkswagen Jetta.

[Big Al Clopine]

All right.

[Joe Anderson]

My drink of choice is. Yeah.

[Big Al Clopine]

The Ryan Geist.

[Joe Anderson]

Ryan, Guys, Truth.

[Big Al Clopine]

That's who I'll go with.

[Joe Anderson]

Ryan Geist.

[Big Al Clopine]

Ryan Geist Truth.

[Joe Anderson]

Ryan. Okay. The king of IPAs. While she enjoys an orange neutral. I've had that neutral before.

[Big Al Clopine]

Have you?

[Joe Anderson]

Oh, yeah.

[Big Al Clopine]

Never heard of that one.

[Andi Last]

It's a vodka seltzer.

[Joe Anderson]

I don't know if it's vodka or not.

[Andi Last]

Well, according to the Internet, it is.

[Joe Anderson]

Oh, well, okay.

[Big Al Clopine]

Well, there you go.

[Joe Anderson]

I don't know.

[Big Al Clopine]

You like seltzers, don't you?

[Joe Anderson]

I do.

[Big Al Clopine]

I don't. I don't care for them.

[Joe Anderson]

I enjoy seltzer.

[Big Al Clopine]

But I like hazy IPAs. And you don't like.

[Joe Anderson]

No, no. At the ripe old age of 26, I've just started my career.

[Big Al Clopine]

Okay.

[Joe Anderson]

Anna's 25.

[Big Al Clopine]

Okay.

[Joe Anderson]

She's been working for a few years. Here's the details. Alright. Gross income, Alexi, $175,000. Anna, $70,000. Pre tax accounts, Anna, $8,000. Brokerage account, $27,000. Estimated yearly expenses are $90,000. I'm looking for a little spitball analysis on investment and retirement priorities so then I can have Big Al's wallet one day. Big ass wallet. We have current debts of about $8,000. Anna has access to a Roth 401K through her employer and a 6% match. I have 401 access through my employer and a profit sharing plan that best after five years. These plans are historically accumulated $100,000 over five years. We need to build an emergency savings account and want to buy a house. Within the next three years, neither of us will have a pension. It's too soon to decide at what age we'll retire. Nor do we know how much we'll be spending in retirement. We just want to put away the most money and pay the least amount of taxes possible. With these savings goals in mind, which retirement accounts would you prioritize in maxing out? Are there methods to reduce the magi? So I can also contribute to a Roth account such as an hsa? All right, Kim, so he's using the term Roth for a lot of things. For a lot of things, yeah, yeah. Tax free.

[Big Al Clopine]

But you know, this is great. He's 26 and wants to get set up properly.

[Joe Anderson]

26?

[Big Al Clopine]

Yeah.

[Joe Anderson]

Okay.

[Big Al Clopine]

They're making good income. So Alexei's income is new. It looks like And Anna's been making her income for a little while. So that's the cool thing. Joe, when you have a new income source, if you get in the habit of saving right off the bat, you'll never really miss it. Whereas a lot of people get the income, then they get used to spending it.

[Joe Anderson]

You got it? I don't know. What do you think? What's your savings recommendations, if possible?

[Big Al Clopine]

If the company had a 401, I would try to max out the 401. I'd probably go with the Roth option, being that they're young, all that tax free growth, and chances are the salaries will only go up from there. So they're probably in a lower tax bracket than they might be later. So that's the first thing. The second thing, I like the idea of Roth contributions, maybe if the income's probably too high. But you know about a backdoor Roth, right? You contribute to an ira, you don't get a tax deduction, but then you turn right around and convert it to a Roth. It's the same as contributing to a Roth. So wouldn't worry too much about that. I think for any young person, if you can get to where you're saving 20% of your income, and that's a lot, I know that's a lot. But the fact that you have a brand new salary and if you get into that, that discipline, I think you'll have a lot of options in retirement. And just to put that to your income, that's about $50,000 a year.

[Joe Anderson]

So fully fund two 401s and backdoor Roths.

[Big Al Clopine]

Yeah, yeah. Or. I don't know. Yeah, exactly. Or. And in the case where they want to save for a house, you know, maybe you don't fully fund the retirement accounts. Some goes to emergency funds, some goes to a down payment for a house, you know.

[Joe Anderson]

But Cincinnati, Ohio, they want to buy a house in three years. What's the average house cost in Cincinnati?

[Big Al Clopine]

Cincinnati, I don't know, but, but less than California.

[Joe Anderson]

Cincinnati is a nice place. It is a starter home.

[Big Al Clopine]

I'm gonna say 300, 400,000.

[Joe Anderson]

It's nice because it gets 700.

[Andi Last]

The average house cost in Cincinnati hovers around the mid-200 thousands, with median sale prices typically between 250 and 285.

[Big Al Clopine]

So we're both tied.

[Joe Anderson]

Okay, $250,000. 20% down is $50,000. He needs $50,000 in savings account or the brokerage account. He's got $27,000 there already.

[Big Al Clopine]

Already? Yep.

[Joe Anderson]

So he needs to save another $23,000.

[Big Al Clopine]

Yeah. So double the brokerage account, three years. And then make sure you have an emergency fund. Yes. And then all the rest goes into retirement.

[Joe Anderson]

Yep, yep.

[Big Al Clopine]

401 Roth option, backdoor Roth. I think those are the best ways to go. Make sure you're getting the match right. If you're new to 401 and your employer matches it to a certain income level. So make sure you're getting full match for both of you guys.

[Joe Anderson]

So at 25, let's just say he can save. How much do they have total in assets? They have.

[Big Al Clopine]

Yeah, they've got about $35,000.

[Joe Anderson]

Okay, so 35,000. And if they can save $50,000 a year. Yeah, yeah. And let's say they want to retire at. I don't know what. Let's say if they do that for 30 years.

[Big Al Clopine]

Okay.

[Joe Anderson]

All right. They're going to get 7%.

[Big Al Clopine]

Sure.

[Joe Anderson]

That's 5 million bucks.

[Big Al Clopine]

It's pretty good.

[Joe Anderson]

It's pretty good.

[Big Al Clopine]

Yeah. Yeah. It's kind of. I mean, when you're talking that long a period of time, it's kind of hard to. But if you just save 20%, you'll be happy. That's what I'm saying.

[Joe Anderson]

Very good. Well, I'm glad that your father listens to us and really enjoys those Roth accounts.

[Andi Last]

Proselytizes like it's the word of Christ.

[Big Al Clopine]

And then he's spreading the word.

[Joe Anderson]

All right, we'll keep going here. We got Jane, Gloria. People's Republic of Illinois.

[Big Al Clopine]

Oh, boy. Okay.

[Joe Anderson]

People are getting a little creative with games and where they live. The People's Republic of Illinois. Greetings, Andy Joe, Big Al. I've enjoyed listening to your show for the past couple of years. Have stumbled upon it on Amazon.

[Big Al Clopine]

Oh, Amazon music.

[Andi Last]

Thank you for listening on Amazon. They have their own place where you can listen to music and podcasts, just like Spotify and Apple music and all the rest of them.

[Big Al Clopine]

I didn't know that.

[Joe Anderson]

No clue.

[Big Al Clopine]

Okay.

[Joe Anderson]

Best podcast anywhere, anywhere of all of them. Okay, my question centers on the topic seldom discussed on the show. All right. Roth 401 versus traditional 401k. Yeah, it's a good one. But seriously, I didn't begin with. I didn't begin. Roth 401 contribution still a couple of years ago. That's 90% of my 401 balance is in the traditional ticking time bomb. I recently had an epiphany that now has me second guessing my decision to go. Roth Illinois does not tax retirement income. Illinois income tax is 5%. If I revert back to the traditional 401 contributions. Then I avoid paying the 5% state income tax that I earn the income, and then avoid paying Illinois tax when I withdraw the money in retirement, thus avoiding giving the Illinois cronies that money altogether. Right. How should this factor affect my decision to contribute pre tax or after tax into my 401? We are in the 24% federal tax bracket with annual income in the high three hundreds. We have $1,200,000 in a traditional 400, $100,000 in a Roth 401. Roth IRA is $25,000 and HSA is $30,000 or $30,000 in a taxable brokerage in cash. J is 52 and Gloria 41.

[Big Al Clopine]

Damn.

[Joe Anderson]

We plan to at least partially retire in 10 years and would like to do Roth conversions until RMDs hit. Fixed income from Social Security will be $60,000 per year. When Jay hits 70, Gloria will get $16,000 per year. At age 62, retirement spending in $2025 is $84,000 annually. We have a big bridge to cross between the start of retirement to claiming Social Security. So I'm okay with the idea of working part time after I leave the daily grind. And welcome to your spitball or whatever else I'll need to do if time permits for a second question. Oh, it's getting greedy. Jay drives whenever his employer makes him drive. Gloria is running a 2015 Honda to the ground. Jay drinks whatever's on sale and gets the job done. There you go. Purpose drinking. Have attempted to tactfully tone down the tongue twisters to entice Joe's co.

[Andi Last]

The juvenile coadjuvancy, the state or the state. Or act of giving active mutual help, assistance or cooperation.

[Big Al Clopine]

I would have had no idea on that one either.

[Joe Anderson]

Yeah, it looks like co juvenency.

[Big Al Clopine]

It does. Coadjubaency. Is that what you said?

[Andi Last]

Coadjuvancy.

[Joe Anderson]

Yes, Coadjub agency.

[Andi Last]

Careful with that now.

[Big Al Clopine]

I like that word.

[Joe Anderson]

Yeah, that one hurt.

[Big Al Clopine]

That one. That's going to be one of our new words.

[Joe Anderson]

Yeah, that's sharp.

[Andi Last]

You have to learn how to say it first.

[Joe Anderson]

Thank you all. Follow up. Hi, Andy. I'm listening to 5:46 at the moment and remembered one additional consideration to add to my spitball if the team chooses to discuss mine. If I switch from Roth 401 to pre tax 401, I'll use my increased take home pay, almost $8,000 a year to fund a backdoor Roth IRA. I currently don't contribute to my IRA so it feels like a win.

[Big Al Clopine]

Damn.

[Joe Anderson]

All right, so he's saving the tax benefit.

[Big Al Clopine]

I like it.

[Joe Anderson]

Very seldom does that happen.

[Big Al Clopine]

Correct.

[Joe Anderson]

All right, so, yeah.

[Big Al Clopine]

What would you do?

[Joe Anderson]

He's got $1.2 million in a traditional 401. He is maxing that plan out. He's got $30,000 in a brokerage account in cash. He's only 52 years old and he.

[Big Al Clopine]

Wants to work 10 more years.

[Joe Anderson]

And they're making $300,000 plus.

[Big Al Clopine]

Right.

[Joe Anderson]

Let's see. What would I do at $24,000? You're going to save 24%. You're going to continue to build that up. You're going to spend $84,000 annually, your tax. I don't know if he's going to touch the 24% bracket in retirement. It's going to be close.

[Big Al Clopine]

It doesn't look like it. I mean, it'll be the same or less. We'll put it that way. Probably less. So I'm guessing 24% bracket today, maybe 22% bracket in retirement. 5% stay today. Nothing in retirement for IRAs. I think if I was going to stay in Illinois, I would actually switch to the taxable 401 tax. Yeah. I mean, pre tax to get the deduction. Yeah. Because why not now? If I was going to move to California, I would convert because California taxes are higher than 5%. So I'd want to do that. But.

[Joe Anderson]

Yeah. So here's the math. $84,000 a year.

[Big Al Clopine]

Doesn't it seem like they're spending more than that, though?

[Joe Anderson]

They have to be. I mean, he has $300,000. He only has $30,000 in a brokerage account.

[Big Al Clopine]

Yeah.

[Joe Anderson]

So if you make $300,000 plus and you're maxing out your 401 and you're only spending $84,000 a year, you're going to have more money and $30,000 in cash.

[Big Al Clopine]

It would seem that way. So maybe you got to check your budget there.

[Joe Anderson]

We're not judging Jay.

[Big Al Clopine]

No, no.

[Joe Anderson]

Or Gloria.

[Big Al Clopine]

Yeah.

[Andi Last]

You know the Jay and Gloria reference, right? Do you?

[Joe Anderson]

You watch Gloria from the. From all in the Family.

[Andi Last]

Modern Family.

[Joe Anderson]

Modern Family.

[Big Al Clopine]

Modern Family. Okay.

[Joe Anderson]

Never seen.

[Andi Last]

And their age range is 52 and 41. And apparently the couple, Jay and Glori, are also. They have a wide range between their ages.

[Big Al Clopine]

Got it. Got it.

[Andi Last]

And it's the guy that played Al Bundy.

[Big Al Clopine]

Yeah, yeah, yeah.

[Joe Anderson]

Ed Dner.

[Big Al Clopine]

No, not Asner. No, not Asner.

[Joe Anderson]

Ed o' Neal or something. O'. Neal.

[Big Al Clopine]

I forget his name.

[Andi Last]

Ed o'. Neal. Yes.

[Joe Anderson]

Correct. Killed it.

[Big Al Clopine]

Yeah. Between you and Aaron, I would. I would be slaughtered on a trivia show.

[Joe Anderson]

Oh, I'm telling you, that's my next gig. Like, I'm gonna host a trivia show.

[Big Al Clopine]

Yeah. Old movies and TV shows.

[Joe Anderson]

I will absolutely know everything.

[Big Al Clopine]

Now, I have seen Modern Family, and I like the show, but would I remember that? Jay and Gloria.

[Joe Anderson]

No, no, I've never seen the show. It was on for many years, I think.

[Big Al Clopine]

Yeah, it's kind of a good show.

[Joe Anderson]

Okay. So. God, I don't know. He's got me torn here, really.

[Big Al Clopine]

Okay.

[Joe Anderson]

But he's saving. This is the kicker for me is that he's actually saving the $8,000 of tax benefit into the Roth.

[Big Al Clopine]

I love it.

[Joe Anderson]

Y. Most people don't save the tax benefit because then it's kind of like a wash. Wash. But he's saving the tax benefit he's putting into a Roth.

[Big Al Clopine]

Why wouldn't you take the tax deduction? Because it's like a Roth anyway. Well, in the state side, anyway.

[Joe Anderson]

Right, right, right. Yeah. I don't know. Yeah, I would go pre tax. I like that. 1.2. I'll watch it, though. I would watch the spending. If you're looking at $84,000, you're already kind of planning to fail. I think you're probably spending 125,000.

[Big Al Clopine]

Yeah, I would guess that. 200. 125. 140 even.

[Joe Anderson]

Yeah. Why not? I mean, it's not like I'm not. We're not saying a plan for trips and travel. You know, it's Saturday every day. All that good stuff.

[Big Al Clopine]

Yeah. I didn't run the math, Joe, but 10 years, 1.4, 2.8 without additional investments, probably close to 4 million, maybe. 4 million at 4% is 160. The 84 is right. Then they're fine. But I have a feeling 84 is a little bit higher than you than you think.

[Joe Anderson]

If you got 160 coming out of a retirement account that's taxed at ordinary income, you're going to be in the 22% tax bracket. He's in the 24% tax bracket today. Takes it. Yeah. I would take the tax deduction until you see that thing blossom a little bit more. I love the fact that you're thinking about tax diversification. You want to make sure that all of your dollars are not sitting in this 401k plan.

[Big Al Clopine]

Right.

[Joe Anderson]

But. But it's. That 84,000 is the kicker. I bet it's higher. And if it is, Higher then I would probably still put money into the Roth on top. I mean I would. Yeah, well I would not put 100% of my contributions into the. The pre tax. I think I would split it.

[Big Al Clopine]

Would you?

[Joe Anderson]

Yep.

[Big Al Clopine]

I. Yeah, I like the backdoor Roth. I think I would do the all the pre tax though, personally.

[Joe Anderson]

Okay, well that's a spitball for you. Yeah, I need to get a little bit more analysis. Yep.

[Andi Last]

Probably there is a to of free financial guidance just waiting for you anytime you want it. On YourMoneyYourWealth.com youm'll find in depth white papers that break down the big stuff. Like what the one big beautiful Bill act could mean for your retirement plans. Or our Growing youg Wealth Guide or Tax Free Retirement Guide. We're also publishing new blog posts all the time covering questions you're probably already asking. Things like how to invest in the stock market even when volatility is making your stomach turn. Whether AI is just a bubble or something more. And if owning gold instead of stock makes sense for long term investors. All this practical plain English financial education can help you make better decisions with your money. And it's all free with no strings attached. Click or tap the link in the episode description to access our white papers, read the latest blogs and browse all the other free financial resources that can help you have a smarter and more successful retirement courtesy of youf Money, you, Wealth and pure Financial advisors.

[Joe Anderson]

Alrighty. Let's go to Sleepless in Seattle.

[Big Al Clopine]

Okay.

[Joe Anderson]

Great movie.

[Big Al Clopine]

Yep. That grime Hanks. Yeah, I actually could have said both of those things. That's it for Rom com. Yeah, Rom com. Over Christmas.

[Joe Anderson]

Lot of.

[Big Al Clopine]

A lot of Rom com.

[Joe Anderson]

Y.

[Big Al Clopine]

Love actually. Ever seen that movie?

[Joe Anderson]

Oh boy, that's a really good one. No, I haven't. Is that with Hugh Grant?

[Big Al Clopine]

Yeah.

[Joe Anderson]

Yeah. No, I do like. I do like the holiday movies though.

[Andi Last]

You know Die Hard?

[Joe Anderson]

I like Die Hard. That's a good one.

[Big Al Clopine]

You like Christmas Vacation?

[Joe Anderson]

I do like Christmas Vacation.

[Big Al Clopine]

We watched that one too. Y.

[Joe Anderson]

We watched what's the With George Bailey?

[Andi Last]

It's a Wonderful Life.

[Joe Anderson]

It's a Wonderful Life.

[Big Al Clopine]

Oh, yeah, sure. Okay. Anne doesn't like that, so we. We don't.

[Joe Anderson]

You don't like A Wonderful Life?

[Big Al Clopine]

I didn't say me. I just said Anne doesn't like it.

[Joe Anderson]

Doesn't she like it? What doesn't she like?

[Big Al Clopine]

It's. I don't know. Too much negativity and troubles, I guess. She wants. She wants a Rom com.

[Joe Anderson]

Yeah.

[Andi Last]

Joe, what about A Christmas Story? You'll shoot your eye out, kid. And the lamp and all that.

[Big Al Clopine]

That.

[Joe Anderson]

Yeah, yeah, that's a good one. Yeah. When the kid sticks his tongue out in a little pole and gets. Did you know that they made Another Christmas Story with Frankie? Yeah. And he's old and he brings his kid back to the. Back to his hometown. Yeah. Bidford Falls. No, I think that's a wonderful line.

[Andi Last]

Had no idea.

[Joe Anderson]

Yeah, I saw that. I didn't watch it, but I saw it on, I don't know, Netflix or something.

[Big Al Clopine]

Got it. The preview.

[Joe Anderson]

Yeah. Okay. Okay.

[Big Al Clopine]

Okay. What do we got?

[Joe Anderson]

Let's go. Living in the high cost state of Washington, buying a house really feels like a reach these days. The median sale price in Seattle is $885,000. According to Redfin, median sales price for A condo is 628 grand.

[Big Al Clopine]

More numbers more than Cincinnati.

[Joe Anderson]

Yeah, a little bit more than Cincinnati. These numbers are so daunting to many first time homebuyers like myself. A 28 year old or like my 28 year old daughter, she currently is single, does not think she can afford a house in the area. But with her good paying job and good savings habit, I think she could at least try to shoot for a condo. My thought is to work with a reputable real estate agent, figure out all the cost down, payment closing, etc, save for it, then wait till the interest rate comes down and bounce on it. What's your thought on that strategy? With this housing market trend, some say renting makes more economic sense, but I still think having your own piece of roof over your head gives you so much leverage in the long run. Building equity, building wealth. Well, maybe I'm old school. Anyway, if we could review the numbers and help guide this 28 year old to strategize her future housing retirement, et cetera. She contributes Max roth with the 5% match. Could you also elaborate on some of those first time home buyers programs as to how do they work? Who would qualify? Your spitball analysis is much appreciated. Love the show. Keep up the great work. Sleepless in Seattle.

[Big Al Clopine]

Okay. All right.

[Joe Anderson]

All right. So 28 year old making a good income, but we don't know how much she makes. She is Max.

[Andi Last]

Yeah, we do.

[Big Al Clopine]

She makes about six grand a month.

[Joe Anderson]

Where did you see that?

[Andi Last]

At the bottom.

[Joe Anderson]

Oh, okay, I got to keep reading.

[Big Al Clopine]

Yeah.

[Joe Anderson]

So she's got a brokerage account of 57,000, Roth IRA of 31,000, 11,401, $3,400 in the 403. Savings is $40,000, checking is 16 grand.

[Big Al Clopine]

Let me just stop right there. $158,000 for a 28 year old. That is phenomenal. So your daughter is a saver for sure.

[Joe Anderson]

Okay, so what are we looking at here? We're looking at a condo. $628,000. Yeah, we're going to put 20% down. So she needs $125,000 down payment.

[Big Al Clopine]

Yeah. And she's got 107, so pretty, pretty close.

[Joe Anderson]

Okay. All right. And so if we look at six, So 500,000. I'm just going to round.

[Big Al Clopine]

Oh, you're doing the mortgage.

[Joe Anderson]

Yeah. What are mortgage rates today? 5, 6.

[Big Al Clopine]

5, 6.

[Joe Anderson]

Let's go even. 6. Let's go high. All right, so her monthly payment is going to be $3,000 a month.

[Big Al Clopine]

Plus property tax.

[Joe Anderson]

Plus property tax and everything else. I wonder what her rent is in Seattle.

[Big Al Clopine]

Yeah, it's probably approaching that.

[Joe Anderson]

You would think.

[Big Al Clopine]

Yeah, I don't know, you know, and then, then if you get a place that has a two bedroom, you can have a roommate while you're, you know, as your income increases, then you don't necessarily need the roommate. But maybe at the start. I personally think buying real estate in a, in an area that appreciates is a great thing to do. I think everyone should try to aspire to that. I know it's difficult.

[Joe Anderson]

It is donkey. Because, you know, we, we live in Southern California and it's like we've hired people to work with us from different states that are still renting because it's like, how can you get in? I mean, they were living in a nice place in another state and it's like they want us to get something comparable. It's like, it's really difficult because of where the prices are at 28 years old, if you can get in. She's a diligent saver for sure. And it looks like mom and dad are probably pretty diligent savers if they're listening to this, this, this show, this crap. So I would imagine if there's a pinch or something there.

[Big Al Clopine]

Right.

[Joe Anderson]

And I agree. I think old school is the way to go here.

[Big Al Clopine]

I do too. And I think that as far as, wait till the interest rate comes down.

[Joe Anderson]

You can always refinance later maybe.

[Big Al Clopine]

But I think, you know, when interest rates come down, Joe, then what tends to happen is housing prices go up. So if possible, you buy sooner rather than later and then refinance. When the interest rates do go down, you probably get a better deal and then ultimately a interest rate. Joe, as far as first time homebuyer programs, I did Take a look in Washington State Housing Finance Commission as a couple.

[Joe Anderson]

All right.

[Big Al Clopine]

A couple programs that should be looked into. There's income limitations and I think based upon her income, she would probably qualify for at least one or maybe the other. And there's also even a down payment assistance program in Washington. So look at both of those. That would be a good way to go. On the federal side, VA loans, if you're military, I'm assuming she's not. But FHA loans can get you in for a lower down payment. So there's some possibilities. If you got money in an IRA, you can pull out $10,000, you pay tax on it, but there's no penalty. So there's a bunch of things that are available. But mainly I think I would look into the Washington State Housing Finance Commission and see what she might qualify for.

[Joe Anderson]

Yeah, I mean, I remember your story 20 years ago of kind of what your real estate investing. It's like it started here, then that rolled into this and that rolled into, rolled into this. And I have a similar story. It's like, you know, your first home, you just try to get in and then the housing market here in Southern California, knock on wood, has been pretty good.

[Big Al Clopine]

It's been amazing. And Seattle's another one of those places that's highly desirable and I think over time will keep going up. So, yeah, I would say try to get in sooner rather than later, but.

[Joe Anderson]

I think she's right. Yeah, I would be careful hiring a real estate agent out the gates. I think you can run the math yourself of like, okay, well, you know, know, because there's conflicts of interest, you want to make sure that you understand the numbers of saying, all right, are we going to do a 25 or 20% down payment? What programs? Do a little bit of research to see if your doc qualifies, I think. And then from there it's like, all right, now I would go to a real estate agent and give them that parameter of budget.

[Big Al Clopine]

I don't disagree with that. Although I might go to a mortgage broker and have the mortgage broker run some numbers, get pre approved, get pre qualified on whatever level you can qualify for and that's going to help you figure out what you could afford. And then there's lots of sources online to figure out what's available in your area and take a look at that when you get a little bit closer. Yeah, I think that's when you hire a real estate agent. Yep.

[Joe Anderson]

Cool. All right, moving on. Let's go to Jennifer in Texas. So I have a kind of different type of question.

[Big Al Clopine]

Okay.

[Joe Anderson]

All right. I've inherited two traditional IRAs after my father passed away. Way I'm wondering how to invest since I pulled. So I have to pull the money out in 10 years. My father was 78 when he passed, so I'll be required to pull his RMD out over the next 10 years. I would like to know what would be the best method of pulling the money out over the 10 year period with the most growth in leased tax liability. I'm 43 years old and this is the start with the goal of maxing out my Roth, which I've done. Here's the stats. $50,000 in an SCP fund. 2055, employer no longer contributing. Got a Roth IRA of $8,400. Inherited IRAs of $28,000 in VTI, $4,800 in BDN BND and $3,800 in cash. And then we have $45,000 to $10,000.

[Big Al Clopine]

In random stock, $45,000 total, $10,000 in random stock and $35,000 in small cap equity ETF.

[Joe Anderson]

Got it.

[Big Al Clopine]

SNO equity, also known as SNUX.

[Joe Anderson]

All right. I'm trying to aggressively save for retirement. I've started so late. All right. I'm happy to reinvest the money. I opened up money market that I plan on buying $400 each month of BT. I'll need to reassess next year with the idea of maxing out my Roth first to get the tax benefit benefit. I just started listening to your show about a month ago and I've gone back to listen to past episodes. They all make it so easy to understand. Really enjoy the overall energy of the show. Thanks so much. Cool. Well, thank you very much for that. All right, so she inherited two IRAs. VTI. So is that total stock market?

[Big Al Clopine]

That's total stock market index fund etf, I think.

[Joe Anderson]

All right, so then she's got a bond fund, she's got some random stock. All right. Yep. So she's taking out her dad's RMD. So she's got.

[Big Al Clopine]

So he was 78. Let's, you know, I don't know, let's call it four grand, something like that.

[Joe Anderson]

Yeah. So there's roughly about $80,000 in the retirement account.

[Big Al Clopine]

Yeah.

[Joe Anderson]

Yeah. I wouldn't overthink this. I think get out of the 2055 Target DEEP Fund. And I think I would put everything in vti.

[Big Al Clopine]

Yeah, I like VTI too. Simple, easy. You get the total stock market. Why not?

[Joe Anderson]

Yeah. And then when you take the money out for your rmd, you can just redirect that into your Roth IRA if you wanted to, because you're paying tax on it.

[Big Al Clopine]

Yeah.

[Joe Anderson]

And then you then just deposit it back in the Roth.

[Big Al Clopine]

Yeah, I agree with that too.

[Joe Anderson]

So yeah, your rmd, you just pay in tax and then you can put that right back into the Roth.

[Big Al Clopine]

The only thing I might do differently, Joe, is depending upon her tax bracket, maybe you might want to do a little bit more than the RMD amount if it's in a low enough bracket where it makes sense. Because remember, if you do that minimum amount each year for nine years, the 10th year you're going to have to take all the rest out and that might push you into a higher bracket. So just give that a little thought. But yeah, I wouldn't overthink it that much either. I think the VTI is good. I think pull out what you need to pull out, maybe more. Depending upon your tax bracket, reinvest it either in a brokerage account or your own Roth IRA account and go from.

[Andi Last]

There Next week on ymyw, assuming our recording schedule goes according to plan, Joe and Big Al spitball on whether Wendy should work as a contractor or employee when returning to work at age 72. Whether direct indexing programs offer true tax savings, savings student loan and 529 strategies for Eric and Tammy, and retirement savings and pension options for Al and Peggy. You Money, you, Wealth is your podcast. When you tell your friends and family and colleagues about ymyw, it helps Joe and Big Al provide financial literacy and a few laughs to more listeners and viewers like you. Follow us on Spotify or subscribe on YouTube to watch us do ymyw when you find us on YouTube. Join me in the comments. Pretty much the only place we have direct interaction with you. Leave your honest reviews and ratings for your Money, you Wealth in Apple podcasts and in all the other apps that let you do that, like Amazon, Audible, Castbox, GoodPods, Pandora Player, FM Podcast Addict, and Podchaser. We are literally on all of them. Your Money, you, Wealth is presented by Pure Financial Advisors. If you're worried about outliving your savings and wondering if you're on track for retirement, you probably, probably don't want to rely entirely on a spitball from Joe and Big Al. For peace of mind, sit down face to face, one on one with an experienced professional on Joe and Big Al's team at Pure. You can do it right from home via Zoom or in person at one of our 13 offices nationwide, headquartered in San Diego. We've got four offices in Southern California. We're also in Sacramento, Seattle, Salt Lake City, Denver, Chicago, Phoenix and the Nashville areas. A Financial Assessment with Pure Island Free Just like a spitball, but the Pure team will take a deep dive into where you are now, where you want to be in the future, and the smart ways to get you there. Custom designed for you and your needs, not the entire podcast audience. Click or tap the free Financial Assessment link in the episode description to book Yours or call 888-994-6257. Pure Financial Advisors is a registered Investment Advisor. This show does not include intend to provide personalized investment advice through this podcast and does not represent that the securities or services discussed are suitable for any investor. As rules and regulations change, podcast content may become outdated. Investors are advised not to rely on any information contained in the podcast in the process of making a full and informed investment decision.