Retire Early in Your 40s or 50s: Green Light or Reality Check? - 571

Summary

Podcast Summary: Your Money, Your Wealth – Episode 571

Retire Early in Your 40s or 50s: Green Light or Reality Check?
Released: March 3, 2026
Hosts: Joe Anderson, CFP® & Alan "Big Al" Clopine, CPA

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Episode Overview

In this episode, Joe and Big Al tackle one of the most aspirational yet complex financial questions: Can you really retire early—in your 40s or 50s—and will your money last? The duo “spitballs” five real listener scenarios, crunching the numbers, challenging assumptions, and giving their honest (and humor-laced) feedback. They dissect the financial realities behind early retirement dreams, including asset drawdown strategies, key tools like Roth conversions and the Rule of 55, and the underestimated impact of high spending. Their tone is direct, practical, and playful—demystifying finance while being candid about the trade-offs.

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Key Discussion Points & Insights

1. Can George in South Carolina Retire at 53?

[01:06–11:42]

• The Scenario:

  • George (45) is eyeing retirement in 8 years at age 53.
  • Household income: $250K; single-income; $96K annual spending; $950K in taxable brokerage, $1.2M in retirement (only $80K Roth); paid-off home.
  • Plan: Use brokerage to bridge to Social Security; concerned about liquidity and long-term success.

• Analysis:

  • Projected to have $3.7M at 53 if trends continue, but spending rises to ~$121K/year (inflated at 3%).
  • Spending-to-portfolio ratio is about a 3.3% withdrawal rate: "Pretty close. At 53, maybe we might want you to be closer to 3%, but I think that's…pretty darn close. And that doesn’t include Social Security coming in later." – Big Al [03:30]
  • Issue: Heavy reliance on the brokerage to bridge multiple years, potentially depleting it before Social Security. Risk if markets underperform.
  • Tax considerations: Not enough Roth yet; debate over capital gains harvesting vs. Roth conversions.

• Practical Tweaks:

  • Consider a part-time job or reducing spending ("Even $30,000 a year job makes it more comfortable" – Big Al [05:44])
  • Delay retirement to 55 for Rule of 55 penalty-free 401(k) withdrawals—“then you're not draining your taxable account.” – Joe [09:33]
  • Ongoing reassessment is essential: “Life changes, Al. Throws you little curve balls. Life is like a box of chocolates or something.” – Joe [10:39]

• Memorable Quote:

  • “If you're really ready to retire and you want to get out, go for it. But I just think you need a little bit more income somehow.” – Big Al [06:21]

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2. Joe in Massachusetts: Big Nest Egg, Even Bigger Burn Rate

[12:00–18:34]

• The Scenario:

  • Joe (48) and wife (45) want to retire when he turns 55, she turns 53.
  • ~$3.5M saved: $1M Roth, $2.2M tax-deferred, $650K taxable; saving $200K+ a year; spending $25K/month ($300K/year); Social Security estimated $5K/month at 62.

• Analysis:

  • Outstanding savings, but projected $7.5M at 55 still only covers about a 5% withdrawal rate at inflated spending: “That’s too much. At that age, you probably could spend maybe $250K, not $350K.” – Big Al [14:03]
  • Could work if markets return 8%, but that’s a risk. The math "looks okay" with spending cut to ~$225K (3% burn rate).
  • If markets or income falter, the dream lifestyle collapses faster due to high withdrawal rate.

• Advice:

  • “A lot of money…But you do have to be cognizant of your spend versus what you have.” – Big Al [14:03]
  • Reduce spending or push retirement a few years if needed.
  • Flexibility is key: “As time goes on, if the market conditions are not cooperating…just work another year or two.” – Big Al [17:37]
  • Consider emotional benefits of working, not just money.

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3. Jonathan (26) in South Florida: Can He FIRE in His 40s?

[18:39–26:39]

• The Scenario:

  • Earning $67K, low cost of living area; saving/investing aggressively in Roth, pre-tax 457, and 401(k); $100K amassed by 26.
  • Goal: early retirement between 40–50 with a target spend of $65K/year.

• Analysis:

  • With 20 years and $15K savings/year at 8.5% return, ends up with ~$1.5M. But $65K in today’s dollars will be $100K+ in 20 years, so not enough to retire at 40 unless living extremely frugally.
  • Early retirement in 40s is “hard. You gotta…live in your parents' basement and eat ramen noodles. Like all these FIRE people.” – Joe [24:44]
  • Major unknowns (will he marry, have kids, buy a home?).

• Guidance:

  • “Save 20% of your gross income. Do that year in, year out, keep it invested, and then good things will happen down the road.” – Big Al [23:21]
  • Focus on Roth contributions now while taxes are low.
  • Stay flexible as life changes; reassess each year.

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4. Chris in Southern California: Retiring Early, But What About LTC?

[26:39–32:22]

• The Scenario:

  • Couple, both 58, SoCal; $350K income; homes paid off; 3 kids (education funded); $2.4M invested (most in retirement); looking to retire at 62 on ~$80K/year plus vacations, concerned about LTC costs.

• Analysis:

  • With projected savings and inflation, should reach $3.4M by 62—“I think they can spend about $160K, they’re only spending $80K.” – Big Al [30:23].
  • Social Security (~$60K combined at 62) plus portfolio provides ample coverage.

• Long-Term Care Concern:

  • Assets likely sufficient to self-insure, especially at such a moderate lifestyle.
  • Consider splitting Social Security claims between spouses to protect survivor benefit.

• Notable Moment:

  • “I think this looks really good. I think go for it. If you’re concerned about long-term care…put money aside or get insurance for it.” – Big Al [30:48]

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5. Rojo in Los Angeles: Widowed, Retire at 57?

[33:34–41:35]

• The Scenario:

  • 52, widowed, two kids (21, 17); debt-free, paid-off $900K house, $2.1M in retirement, $450K brokerage, $70K cash; wants to retire at 57; listed all spending, health, lifestyle, and legacy goals.

• Analysis:

  • Projected $3M by 57, but desired spending (with inflation, health care, etc.) creates initial drawdown of 3.9%, easing after survivor benefits at 60.
  • “It’s a little tight, but on the other hand, at 60 there’s $24,000 of fixed income…so I think this probably works.” – Big Al [38:35]
  • If market returns disappoint or big one-time goals are needed, risk increases.

• Pragmatic Take:

  • "If you were Rojo, would you retire at 57? I'd probably go to 60 personally…But if you want to get out…” – Joe [38:54]
  • Flexibility: Could tone down travel, wait a bit longer, or adjust as needed.
  • Commendation for detail: “Great job first off…a lot of assets, a lot of great—no debt, spending $82,000. Not over your skis...57 is just a little bit…it’s a long retirement.” – Joe [40:43]

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Tools & Strategies Highlighted

• Bridging to Social Security: Using taxable accounts to cover early retirement before Social Security eligibility.
• Rule of 55: Retiring at 55 allows for penalty-free 401(k) withdrawals, a crucial tool for early retirees.
• Roth Conversions: Use “gap years” (between retirement and RMDs/Social Security) to convert IRA to Roth at lower taxes.
• Withdrawal Rates: Conservative 3% withdrawal rates for early retirees to protect longevity.
• Flexibility & Ongoing Planning: Frequent check-ins and adjusting for market outcomes, inflation, and changing life goals.

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Memorable Quotes

• On Early Retirement Feasibility:
  • “If you’re really ready to retire and you want to get out, go for it. But I just think you need a little bit more income somehow.” – Big Al [06:21]
  • “Retiring at 40 is hard…You gotta live in your parents' basement and eat ramen noodles.” – Joe [24:44]
• On Spending vs. Savings:
  • “A lot of money…But you do have to be cognizant of your spend versus what you have.” – Big Al [14:03]
• On Life’s Unpredictability:
  • “Life changes, Al. Throws you little curve balls. Life is like a box of chocolates or something.” – Joe [10:39]
• On Flexibility:
  • “You can always tone it down.” – Joe [41:27]

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Notable Moments & Light-Hearted Banter

• Listeners’ drink and car choices are always included as part of their financial “profile.”
• Running debate over who drives the most “appropriate” car for their beer selection.
• Playful ribbing about low spending: “Live low to the ground” stumps the hosts in SoCal-slang translation.
• Guitar “gear acquisition syndrome” is outed as a real thing among early-retirement planners (even those with RVs).

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Key Timestamps

• George in SC (Can we retire at 53?): [01:06–11:42]
• Joe in MA (Huge savings, high spending): [12:00–18:34]
• Jonathan in FL (26 and dreaming of FIRE): [18:39–26:39]
• Chris in CA (Early retirement & LTC fears): [26:39–32:22]
• Rojo in LA (Widowed early retiree): [33:34–41:35]

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Final Takeaways

Early retirement is tempting and sometimes possible, but it's rarely a slam-dunk—even for high earners and diligent savers. Most scenarios require either a little more savings, lower spending, part-time work, or the flexibility to push the retirement date a bit further. Conservative assumptions and proactive tax planning (especially Roth conversions and leveraging penalty-free withdrawals) can make the difference. As always, reevaluate regularly, expect curve balls, and remember: the math can tell you if it "works," but real life will add its own surprises.

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For more spitballs and resources, or to get your own financial question analyzed on-air, visit YourMoneyYourWealth.com or check out the episode description for free guides and tools, including withdrawal and long-term care guides.

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End of Summary

Transcript

[Andi Last]

If you plan to punch the clock for the final time, decades before standard retirement age, you need a financial strategy that goes beyond just saving. Joe and Big Al spitball five different early retirement plans to see who's ready to go for it and whose numbers are tight. Today on youn Money, you, wealth podcast number 571. George in South Carolina wants to retire in eight years at 53. Does he have enough in his brokerage account to bridge the gap to Social Security? Joe in Massachusetts is saving a staggering $200,000 a year. But will his high spending lifesty style make a multi million dollar nest egg look small? The fellas helped 26 year old Jonathan in Florida map out a path to retire in his 40s using his 457 plan. And they spitball on whether early exit strategies for both Chris and Rojo in California are a green light or a reality check. Plus, Joe explains why the Rule of 55 and Roth conversions might be some of the most important tools in your early retirement toolbox. 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]

We're gonna go to George in South Carolina.

[Big Al Clopine]

Yep.

[Joe Anderson]

My question can my wife and I retire early at age 53? We are both 45 years old. Yo wife does not work outside of the home. Annual income of roughly $250,000. Our current thought is use taxable brokerage account of roughly 950.

[Big Al Clopine]

All right.

[Joe Anderson]

Target future value at 53 to cover our expenses from age 53 to 60. Our current spending is roughly $96,000 per year. $300,000 home is paid for. We have $1,200,000 in retirement funds. $80,000 of those funds are in Roth. We invest roughly $20,000 per year in the 401 s, stashing half of that in Roth. Four hundred and one option. We will not have any pension in retirement or any other income. We are projected for $3,000 a month in Social Security for myself and $1,600 for her or my wife if she pulls at age 67. We have one daughter, Levin. Yo. We have $125,000 in education savings which should grow to cover her college years. I've listened to several financial podcasts and enjoy your show the most. By far.

[Big Al Clopine]

By far. Okay.

[Joe Anderson]

Wow, look at that. I listen nearly every day on my drive. Every day.

[Big Al Clopine]

How about that?

[Joe Anderson]

Every day. Listen to this. I drive a 2022 Ford F150. My drink of choice has Got to be Little Bush Light. What do we got?

[Big Al Clopine]

I don't know. Ipa?

[Joe Anderson]

No, it's ipa.

[Big Al Clopine]

Doesn't match.

[Joe Anderson]

Jack, Dan. All right. Okay. Let's see. And my wife, she drives a 20, 21 Acra RDX. I love IPA in a cold pint glass. And my wife is my designated driver for life. All right, cool. All right. George, South Carolina, he retired at 53 years old.

[Big Al Clopine]

So that's eight years from now, Joe.

[Joe Anderson]

All right.

[Big Al Clopine]

And I'm going to say they got 2.2 million to start saving.

[Joe Anderson]

About $20,500,000 at 45.

[Big Al Clopine]

That's phenomenal. Right? Right. Add 20,000 a year, eight years, 6%, they end up with about 3.7 million. Okay. Spending 96,000. Inflate that at 3% for eight years, it's about 121. That's a 3.3% distribution rate. That's pretty close. At age 53, maybe we might want you to be closer to 3%, but I think that's. I think that's pretty darn close. And that doesn't include Social Security coming in later to help this. Of course, that's not for another 14 years. This is one where I'd say it could be okay, but it's pretty close. It would probably make me a little nervous, I think.

[Joe Anderson]

Yeah. He's got $950,000 in a brokerage account. Right. He's going to retire at 53. He's got seven years to bridge the gap at $120,000 a year.

[Big Al Clopine]

Yeah. Yeah. Y.

[Joe Anderson]

That's a.

[Big Al Clopine]

It's tricky. Yeah. I mean, it's. It's possible, but, you know, I think right now we're. We are complacent on the market. We just keep thinking it's going to go up, and that's not necessarily going to be the case.

[Joe Anderson]

Right. I know. Seven years to take money, you're going to totally deplete your brokerage account.

[Big Al Clopine]

Right.

[Joe Anderson]

Then now you're 60. You got two and a half million dollars, and it's all in retirement accounts because I don't think he's got enough liquidity right now to retire at 50 to pay the taxes on any conversions.

[Big Al Clopine]

Right.

[Joe Anderson]

You absolutely would want to do some conversions as you're taking money from your. But I don't know what the gain is in that brokerage account. So then it's that whole capital gains versus conversion. What, do you want to take advantage of the 0% capital gains rate or do you want to do some conversions to get that money out of the deferred account to get it into the roth. Because then when you're claiming Social Security and a lot of your dollars are in Roth, then your Social Security could be tax free. So I mean there's a lot of meat on the bone here. But just back of the envelope, I don't think he can, it's close.

[Big Al Clopine]

If it were me, Joe, well, first of all I would probably try to get a part time job and make a couple thousand a month. So 24,000, make 20 to $30,000 a month on top of this. I think it's, I think this is a lot closer.

[Joe Anderson]

And then I, there's so many assumptions too. He, he's not going to retire tomorrow, he's retiring in seven, eight years.

[Big Al Clopine]

We're assuming a straight line, I mean, which is all we can ever do, right? So these, every time we answer a question like this, it's contingent upon the market. Market's not going to earn 6% compound

[Joe Anderson]

year in, year out or 7 or 8 or 4.

[Big Al Clopine]

It might be 2, it might be minus 4. It's just we, we, we don't know. I mean so, so yeah, it's pretty close. So, so when we say it's close, it's, it, it might work but it's, it's close enough that it, it, that's why I said I would feel a little uncomfortable doing this. If you're really ready to retire and you want to get out, go for it. But I just think you need a little bit more income somehow. Maybe $30,000 a year on doing something. But the truth is this is today, with today's assumptions, in eight years from now, you really, then you have to assess what, where you're at and can, does this still work or as you get closer to that. But yeah, it's, it's, it's, it could work but it's a little tight.

[Joe Anderson]

I think the issue too is who knows what's going to happen over the next seven years and he might be in a lot better position. So what are the steps that he needs to make to today to get, make sure that he's on track at, at 53. Is that all right? Well, you got a home that's paid for, you make good income. Can you reduce a little bit of the spending today? You have 11 year old daughter, right? So college is paid for. Can you save a little bit more? What rate of return are you going to be generating? He's at $250,000. You're in the 22% tax bracket. Does it make sense to Do a little bit of Roth. Right now he's only got $80,000 in a Roth. So can he be more diversified from a tax perspective over the next eight years on where he wants to place his contributions?

[Big Al Clopine]

Right.

[Joe Anderson]

If the markets go down, does it make sense to do conversions at that point? Because then you're converting the same amount of shares but at a lower price to really leverage, you know, the volatility in the market. So, you know, there's so many things that you want to make sure that you're looking at, but it's close. I think he's done a great job at 45, at $2.2 million, phenomenal. But the problem is that we're living a heck of a lot longer. You're going to retire at 53, which is super young and I don't know, you might get bored too. I don't know. Guy's making a ton of money.

[Big Al Clopine]

Yeah, right. Well, and another way to think about this, I think is if you just, let's say you reduce the spending by 10%. I don't know if they can do it, but let's just say 10%, call it $10,000. So instead of spending 96,000, you're spending 86 and that extra 10,000 goes into savings. So not only does your savings going to be higher than what I calculated, your spending is lower and these ratios work out quite a bit better. So if, if eight years and I, I think I know seven years, they did that because their daughter's going to go to college and that they're empty nesters and so they want to have fun. And I, I get it. I, I like, I say I think you're close. It's, it, it makes me a little nervous. But you, if you can do a couple tweaks or one tweak, one is spend less and save that a second would be just do what you're doing. But consider you may have to have a part time job or here's yet another one. Maybe you work an extra three years and you retire 55 or 56 instead of 53. Maybe this works better.

[Joe Anderson]

Yep. Well, I would retire 55 because then you have the rule of 55 that you can take money from your 401 plan without any penalties.

[Big Al Clopine]

Yeah, good point.

[Joe Anderson]

So you're not going to drain 100% of your brokerage account.

[Big Al Clopine]

Then you don't have to do 72.

[Joe Anderson]

Yeah, right. You don't have to do all that BS.

[Big Al Clopine]

Yeah.

[Joe Anderson]

At 55, then it's like, okay, well now I have access to my 401k plan where I can take distributions. If you retire at 53, you're going to have to wait until 59 and a half to get access to it. So you're going to deplete 100% of your brokerage account.

[Big Al Clopine]

Okay, I like that. So you worked till 55. Let's try to cut spending by 500amonth. 6,000. So you're spending 90. Save that.

[Joe Anderson]

Yeah. I think if he retires at 55, he doesn't have to pinch pennies.

[Big Al Clopine]

It's better. It's better, but I think the more you can do the.

[Joe Anderson]

Of course.

[Big Al Clopine]

The better.

[Joe Anderson]

Yeah. I mean, there's so many levers that you pull. Right. So this is why you want to look at this on an ongoing basis. What does this year look like versus next? You know what? Next year you might spend $140,000 and save less, but the following year you might only spend $80,000. So you save all of that. You know, life there's. It changes, Al.

[Big Al Clopine]

It does, doesn't it?

[Joe Anderson]

Throws you little curve balls. Life is like a box of chocolates or something.

[Andi Last]

If you're lucky.

[Joe Anderson]

If you're lucky.

[Andi Last]

Are you among the 49% of retirees making the same mistake that quietly costs thousands every single year? When it comes to retirement withdrawals, you may think you're doing everything right. The good news is it can be fixed With a little clarity and some thoughtful planning. This week on a brand new episode of YMYW tv, Joe and Big Al look at the number one spending mistake ruining retirement. They'll break down real life examples and show you how retirement, income taxes, RMDs and timing all work together. They'll show you how a thoughtful withdrawal strategy can help your money last longer and reduce unnecessary tax surprises. Plus, download the companion withdrawal strategy guide for free. Learn how to think about retirement distributions, how to calculate how much you'll actually need, how to compare different withdrawal approaches, and how to understand your probability of success based on your asset mix. The withdrawal strategy guide also explains the difference between traditional withdrawal sequencing and more proportional tax smart strategies that can help reduce RMDs and long term tax drag. Click or tap the links in the episode description to watch YMYW TV and to download the withdrawal strategy guide for free.

[Joe Anderson]

Okay, let's move on to Joe in Massachusetts. Hey, boys. And Andy, longtime listener, repeat caller. Love the show. 48. My wife's 45. We are hoping to retire when I turn 55 and she's 53. We have $3,500,000 saved for retirement. Way to go, Joe.

[Big Al Clopine]

That's good. That's really good.

[Joe Anderson]

Of which million dollars is in Roth accounts, 2 million 200 in tax deferred. We also have $650,000 saved in a taxable brokerage account. We make 7 to 750 per year and spend about $25,000 per month. All our retirement contributions are roth. We contribute $14,000 to our backdoor Roth IRAs, and we both max out a total of $70,000 in the 401 contributions via the Megatron.

[Big Al Clopine]

Wow, that's a lot of savings.

[Joe Anderson]

That is a ton of savings. All right. We also contribute $50,000 annually to the brokerage account. Our Social Security estimate is or $5,000 starting at age 62. I'm eligible for small pensions of about $1,000 per month. Are we in good shape to retire at 55 and 53? My plan is to live out the brokerage account from age 55 to 60 and do Roth conversions during that five year period. Would that make sense? If I want to retire before 55, should I divert contributions from the 401 to the brokerage account? Would it ever make sense to forego the tax benefits of the Roth to do that? Thanks for taking my questions. I drink any ice cold beer you put in front of me. All right. I drive a 2024 Chevy Silverado. Joe.

[Big Al Clopine]

Okay, so let's do a little math here, Joe.

[Joe Anderson]

I think he's doing okay.

[Big Al Clopine]

I think it's based upon his current spending. I think it's a little tight.

[Joe Anderson]

Okay, let's see.

[Big Al Clopine]

3.85 million. That's our starting point. Seven years, 6%. Add 200,000 a year. That's a lot of savings. A ton of end up with about 7.5 million.

[Joe Anderson]

7.5 million at age 55.

[Big Al Clopine]

Yeah, but they want to spend 300,000. At 3% inflation, that's 370. That's about a 5% distribution rate of 55. It's too much. So here's a great example of this is a lot of money. Great savings, great accumulation. You can have kind of almost the retirement of your dreams. But you do have to be cognizant of your spend versus what you, you have. I think, you know, at that, at that age, you, you probably could spend maybe 2, 40, 2, 50. 250. Not. But not 350.

[Joe Anderson]

No.

[Big Al Clopine]

So I would, I would cut the spending down from 25 grand a month to 20. And that, that's close to doing it. Maybe a little bit more, but somewhere in there. So I think. I don't. I don't think it works. I think they have a great retirement, but just not at the level they're currently spending.

[Joe Anderson]

That's what they're spending today, though, right?

[Big Al Clopine]

I know, but that was his question. Are we in good shape to retire? 55 and 53, given our high spending levels? Tight.

[Joe Anderson]

Yeah. All right. So with that spending level from 50, so you got five years to bridge the gap. He's got a million dollars or something like that in non retirement.

[Big Al Clopine]

Yeah, a million. He's. And he's adding. He's adding another 50 grand to that per year for another seven years.

[Joe Anderson]

That's going to be tight.

[Big Al Clopine]

Yeah.

[Joe Anderson]

You're going to blow through all of that as well.

[Big Al Clopine]

Yeah.

[Joe Anderson]

People, there's one thing to say that the math works, but then in reality, when people start executing it, you know, you see that brokerage account go down to zero.

[Big Al Clopine]

Yeah.

[Joe Anderson]

Yeah. People don't like that your retirement is implode. Yeah. I don't know. I guess you're right. At $300,000, it's tight. A little bit less. Sure.

[Big Al Clopine]

Yeah. I mean, if this is right, if my numbers are right. These are just assumptions. And I'll say it again, these are just assumptions. So we don't know how close this will be, but this is 3.85 million today. Seven years at 6% rate of return, adding 200,000 a year, the math says you'll end up with about seven and a half million. I'm going to say my comfort level at around 53 would be about a 3% distribution rate. That would be 225,000 of spending.

[Joe Anderson]

Well, he needs $10 million.

[Big Al Clopine]

Yeah.

[Joe Anderson]

At a 3% burn rate, if you're going to spend $300,000.

[Big Al Clopine]

Right.

[Joe Anderson]

Well, it's going to be less than that. Call it eight and a half because you got. He's bridging the gap to Social Security, right?

[Big Al Clopine]

Yeah, that's right. And I haven't even factored that.

[Joe Anderson]

I don't know. So let's say he needs $8 million.

[Big Al Clopine]

I think it needs more than that.

[Joe Anderson]

Eight and a half.

[Big Al Clopine]

I don't know. I think 10 is probably closer at this spending level because don't forget, spending will be 370 by the time he gets there because of inflation.

[Joe Anderson]

Got it. And so then the Social Security is just going to take up the. Yeah, you're probably right. It's between 9 and 10.

[Big Al Clopine]

I think it's a great retirement. I just don't think it's at this level.

[Joe Anderson]

But if he's got. So if, if he, if the market does 8%, he's probably right there, right?

[Big Al Clopine]

Yeah. I don't disagree with that.

[Joe Anderson]

Yeah.

[Big Al Clopine]

Yeah.

[Joe Anderson]

So what? Depends on your assumptions and what, how conservative and how aggressive that you want to be in your assumptions. But you're not going to re.

[Big Al Clopine]

You're not.

[Joe Anderson]

He's not putting in his two weeks notice today. Hey, I'm going to retire in seven years.

[Big Al Clopine]

Yeah. And I think that's the way you have to think about all of these. It's like, I've got a target. I can relax. I've got it. I know what I'm trying to do. But as time goes on, if the market conditions are not cooperating, it's okay, right? You just work another year or two or whatever. And I will say this, Joe, a lot of people when they're in their 40s, I was this way too. Sure you were around me. I want to retire at 47. I've had enough. And then you get to the point where it's like, oh, well, actually, you know what? There's some benefits to working besides income. It's your identity, it's your community. It's keeping your brain fresh. All these things that you realize in your 50s. Oh, it's okay. Maybe I can't. Maybe I should work a little bit more. And here I am still today.

[Joe Anderson]

Still today, grinding it out big.

[Big Al Clopine]

Although I have to say, I'm not working that hard.

[Joe Anderson]

I would concur.

[Andi Last]

I'm just glad you do the show prep. Thank you for that.

[Big Al Clopine]

I do the show prep. You're right.

[Joe Anderson]

We got Jonathan from South Florida. Hello, Joe, Big Al and team. I've quickly become a fan of the channel after finding it on a random whim. Well, love how you break things down in a way that actually makes sense in a fun way. I want to know how to utilize my 457 account for a potential early retirement. I'm in a position to either max it out completely on a pre tax basis or mostly max it out on a Roth basis and can also have fun doing a mix of the strategy if need be. I'm 26 and currently make about $67,000 per year, expensing roughly $20,000 in a local area low. LOCL.

[Big Al Clopine]

I'm not sure what that means.

[Andi Last]

Low cost of living area low.

[Big Al Clopine]

Oh, there you go. Look at Andy. Low cost of living.

[Andi Last]

Instead of hcol, it's lcol.

[Joe Anderson]

Locl.

[Big Al Clopine]

Low cost of living. Okay.

[Andi Last]

I guess it would be low of cost living.

[Joe Anderson]

Low.

[Big Al Clopine]

Low of cost living. Got it. I See, local, local, local area.

[Joe Anderson]

All right, so he's expensing roughly $20,000 in a locl area. Right now I've got just under $70,000 saved for retirement. About $19,000 in a 401 where about $7,800 per year gross in is being contributed between myself and my employer. There is $1,800 in my current employer's government pre tax 457 plan and another $13,000 just sitting in my pre tax 457 from a former employer.

[Big Al Clopine]

The 457 from a former employee, also a government account.

[Joe Anderson]

Okay.

[Big Al Clopine]

On the Roth side.

[Joe Anderson]

I got it. On the Roth side, I've got about $3,400 in Roth 457 work through and $26,000 in a Roth IRA that I plan to max out every year. I've also got a brokerage account with about $5,600 in it that I'm not currently contributing to. Outside of that, I keep that year of expenses in a high yield savings account for my emergency fund. I don't have a pension or annuity and I haven't really dug into what Social Security might look like for me down the road. I'm just assuming it's something but not relying on it. Ideally, I like to retire somewhere between the ages of 40 and 50, though it's less about hitting a specific age and more about having flexibility. Every investment dollar is currently in some sort of S&P 500 index fund. Depending on this servicer, I foresee an ideal Future spend of $65,000 a year in today's dollars to live on, though that could change depending on life. I'm single right now, no kids yet, and I'd like to own a home eventually. I'm in Florida for now. The plan to move to Minnesota in the future.

[Big Al Clopine]

Wow. How about that? What do you think of that?

[Joe Anderson]

I don't know. I did the opposite.

[Big Al Clopine]

You did do the opposite, didn't you?

[Joe Anderson]

I grew up in Minnesota and then moved to Florida for school.

[Big Al Clopine]

You want to move back to Minnesota?

[Joe Anderson]

I did and I didn't like it. That's why I'm in California.

[Big Al Clopine]

Yeah.

[Andi Last]

You didn't want to go back to Florida?

[Joe Anderson]

No, I liked Florida a lot, but it was like here. I've been there, done that.

[Big Al Clopine]

Yeah. Yeah. Try something different.

[Joe Anderson]

Yeah. Let's try something new.

[Big Al Clopine]

Yeah. And it stuck.

[Joe Anderson]

Yeah.

[Big Al Clopine]

Yeah.

[Joe Anderson]

And then. Yeah. California is good to you? Yeah, it's been nice. I like, I like, like the weather.

[Big Al Clopine]

Yeah.

[Joe Anderson]

I was in Miami just recently.

[Big Al Clopine]

Oh. Yeah.

[Joe Anderson]

It was Cold.

[Big Al Clopine]

Yeah, that's right.

[Joe Anderson]

It's 80 degrees here in Southern California. And I, yeah, I was in Miami. It was like, it was cool. 50s.

[Big Al Clopine]

That's unusual.

[Joe Anderson]

The week before that, they said it was in the 30s.

[Big Al Clopine]

Oh, well, cold spell.

[Joe Anderson]

Yeah.

[Big Al Clopine]

Yeah. Well, so a couple things. At 26, it's hard to, you know, thinking about retirement is a little bit. It's still too early, but yeah, I

[Joe Anderson]

think he's like, all right, well, how do I be financially independent?

[Big Al Clopine]

Here's a couple things I would say. I would say save 20% of your gross income. Just do that. You're in. It looks like you're already doing that or you're close to it. Right. So that's a good goal for anyone, particularly a young person. You've got all this time, save 20% of your income, number one. Number two, when you're young, it should all go into the Roth because your income is probably lower now than it will be later. Get that money into the Roth and have that growth tax free. I think those are the two things I would suggest in this situation. You know, if you do that, you'll have a lot more choices and flexibility. Maybe you can retire early. And if you want to retire, you know, let's say closer to 40, maybe you save 30% or 40%, these things can be done. But I would say for most people, if you can. If you can work up to saving 20% of your gross income, you should be in pretty good shape.

[Joe Anderson]

All right, so what does he have total? He's got about $100,000.

[Big Al Clopine]

Call it. Yeah. At 26, I mean, that's phenomenal.

[Joe Anderson]

He needs two and a half million dollars if he wants to spend $65,000.

[Big Al Clopine]

Yeah. So in today's. In today's dollars.

[Joe Anderson]

In today's dollars, yep. So I don't know, let's see. What if he continues to save? Let's say he's going to. How much is he saving? Total?

[Big Al Clopine]

I didn't really say.

[Joe Anderson]

Well, he's got.

[Big Al Clopine]

Yeah, he's saving 7,800 between him and his employer, but I'm not sure what else he's saving.

[Joe Anderson]

If anything, he's saving. Let's go 15,000 and he's 26. All right, so let's say he's got 20 years.

[Big Al Clopine]

Yeah, sounds good.

[Joe Anderson]

God, this calculator sucks.

[Big Al Clopine]

15.

[Joe Anderson]

All right, and then he's got 20. Let's go at 8. All right, so if he keeps doing what he's doing at $100,000, he's going to have about one and a half at 8.5% over 20 years.

[Big Al Clopine]

And the 67 spending will be more like 100. Probably at that point. Ish. Maybe 105.

[Joe Anderson]

Yeah. Retiring at 40 is hard.

[Big Al Clopine]

It's hard. Yeah.

[Joe Anderson]

You gotta. You live in your parents basement and eat ramen noodles. Like all these fire.

[Big Al Clopine]

Yeah, that's. Well, that's what they do.

[Joe Anderson]

I know. It's like I'm gonna spend $3 a month and save 100% of my income. And you know, that's. Or they have these side hustles and side gigs that is covering a lot. And.

[Big Al Clopine]

And the thing is, at 26, I mean, you may buy a home, you may get married, you have kids.

[Joe Anderson]

He's moving to Minnesota from Florida. Why you gotta buy coats and boots?

[Big Al Clopine]

Yeah. But housing is probably cheaper, right? Unless you're right in the city.

[Joe Anderson]

Well, it depends.

[Big Al Clopine]

Yeah, I suppose.

[Joe Anderson]

I don't know if there's. I don't know, there's areas in Florida that, I mean, if you're thinking of Miami, West Palm and you know, that's pretty expensive, but I think there's pockets in Florida that are reasonably priced and same with pockets of. Of Minnesota as well.

[Big Al Clopine]

Higher heating costs maybe.

[Joe Anderson]

Yeah. Your electricity. Well, I guess you got AC in Florida.

[Big Al Clopine]

Yeah, true. Yeah.

[Joe Anderson]

Depending on how you deal with the humidity and the heat.

[Big Al Clopine]

Yeah. Right.

[Joe Anderson]

Yeah. Polar opposites.

[Big Al Clopine]

Right.

[Joe Anderson]

But yeah. 26. Keep saving. Keep doing what you're doing. Save as much as you possibly can. Max out the Roth IRA, stay in the S&P 500, keep grinding and taking a look at the opportunities that you have in front of you each and every year.

[Big Al Clopine]

Yeah. By the way, saving 20% of 67 grand, that's 13,000 a year. So get to that point, even do more if you can, but that would be kind of a good place to be. Do that year in, year out, keep it invested, and then good things will happen down the road. And you don't really even hardly have to think about what I'm going to spend because you don't really know. Right. At this point, it's just what you're currently spending. But save 20% or more if you can. Then you'll be in a position to make. Have flexibility and choices in the future.

[Joe Anderson]

Cool. Congrats. Keep doing it. Okay, let's go to Chris in California. Hi, longtime listener. Enjoy the podcast. We are both 58, live in SoCal and we have paid off homes. Three kids, two have graduated college and more or less off the payroll. And let's see. One, a college sophomore with a fully Funded college fund. We are starting to think about retiring earlier than what we originally thought and just worried that we don't have enough to last. Especially seeing what my elderly parents are going through in their older years. With the cost of assisted living, we don't have long term care insurance. We currently have a combined. We currently have a combined income of about $350,000 gross. We max out retirement and now shifting all excess funds to our taxable brokerage. 401 s are $1,700,000. Roth IRAs are $400,000. Brokerage is $300,000. Home is worth about $800,000. We live pretty low to the ground.

[Big Al Clopine]

Okay. I think that means they don't spend a lot.

[Joe Anderson]

Where are these people? They're from California.

[Big Al Clopine]

They're in caves.

[Joe Anderson]

Never heard that saying before. We live pretty low to the ground.

[Andi Last]

So they're not flying high, they're not spending lavishly.

[Big Al Clopine]

Yeah, that's. That's what I get out of it. But I've never heard it said that way either.

[Joe Anderson]

Yeah. Aaron, do you live pretty low to the ground?

[Big Al Clopine]

He's nodding yes.

[Joe Anderson]

He's underground. Estimating our annual expenses to be about $80,000 a year, maybe less. Depends on how fancy our vacation and hobbies are. Plan to take our Social Security at 62 with a combined annual amount of approximately $60,000. That's based on our current Social Security statements. Biggest concern is if we do decide to retire early, covering the gap of health insurance for us and our two kids and we will run out in our elderly years should we need long term care. All the projections I run say we should be in good shape. But worry. I enjoy a little margarita and my husband likes

[Andi Last]

kombucha.

[Joe Anderson]

Kombucha.

[Big Al Clopine]

Yep.

[Joe Anderson]

Yeah, I've had that before.

[Big Al Clopine]

Yeah. Did you like it? No. Me neither. No, it's terrible.

[Joe Anderson]

Yeah, it's very healthy though, right?

[Big Al Clopine]

I don't know. Maybe anything that tastes that bad must be.

[Joe Anderson]

It must be. And we have a very cutie dog. Or a very cute doggy. Wow.

[Andi Last]

Or cutie dog.

[Big Al Clopine]

That works too.

[Andi Last]

That's adorable.

[Joe Anderson]

How did I get that backwards?

[Big Al Clopine]

Well, yeah, you've got word dick.

[Joe Anderson]

Toxia. Yeah, maybe. It's definitely coming out.

[Big Al Clopine]

It's because you weren't paying attention to junior high.

[Joe Anderson]

Yeah, I know Carl at Sandberg. The kombucha got me.

[Big Al Clopine]

Yeah.

[Joe Anderson]

All right. Thanks for the spitball.

[Big Al Clopine]

Okay, well, I ran a couple numbers here. So they want to. They're both 58, Joe. They want to retire at 62. So that's four years from now they got 2.4 million and I just, I don't quite know how much they're saving. They're maxing out 401ks and they're saving whatever's extra in the brokerage. So I just said 30 plus 30 plus 10. So I'd come up 70 grand. 70 grand.

[Joe Anderson]

Okay.

[Big Al Clopine]

Put that in. In four years they end up with 3.4 million. Okay. Then at that 62. I feel quite comfortable in doing a 3% distribution. You could probably do more, but being conservative, that's about 100,000 of, of, of income from the portfolio.

[Joe Anderson]

And they live pretty low to the ground.

[Big Al Clopine]

Right. Plus they got about 60,000 Social Security, as you mentioned, so I think they can spend about 160. They're spending 80, Joe. And, and even in four years with inflation, that would be like 90,000. So I think, I think that this looks really good. I think go for it. If you're concerned about long term care, which I think we all are, then put money aside or get insurance for it.

[Joe Anderson]

They got $1.7 million in a brokerage account, right?

[Big Al Clopine]

Yeah.

[Joe Anderson]

If they take their Social Security early, they're taking $20,000 out of 3 million bucks.

[Big Al Clopine]

Right. It's not very much.

[Joe Anderson]

Right. So that's a couple percent. Let's say those dollars are going to continue to grow.

[Big Al Clopine]

Yeah. What I'm suggesting is they're not going to be spending enough. Their estate's just got to keep growing.

[Joe Anderson]

Right. And I think they'll have plenty of capital to probably pay for long term care.

[Big Al Clopine]

Yep. Yep. I would, I might recommend one thing though, and that, that is maybe since they've got enough cash flow and assets, maybe, maybe One of the two of you takes Social Security at 62 and the other one delays just because when one of you survives the other, you'll get the higher benefit. It might be something to at least consider.

[Joe Anderson]

Yeah, that's a good point. They don't need the money.

[Big Al Clopine]

Yeah. I mean, I get what. It feels good to take it and, and I'm fine. But I, I just, if I was going to take it, I would just do one spouse taking it and the other spouse maybe waiting.

[Joe Anderson]

And how old are their parents? So they're 60 and their parents are still alive or they remember their parents being.

[Big Al Clopine]

Yeah, I don't. Not sure. They said. Yeah, well, they said are going through. So I think they're still alive.

[Joe Anderson]

Yeah. So they're probably. So they have life.

[Big Al Clopine]

Yeah.

[Joe Anderson]

The longevity.

[Big Al Clopine]

Yeah. They're probably in their 80s, right?

[Joe Anderson]

Yeah, sure. So,

[Big Al Clopine]

yeah.

[Joe Anderson]

I Don't see anything that's glaring.

[Big Al Clopine]

I don't either. I think it looks great. I think go for it. Nope.

[Joe Anderson]

All right.

[Andi Last]

Long term care planning is one of those topics people either avoid completely or assume it's just about buying insurance. So good on Chris for considering this fair fairly early. That said, there are a lot of moving pieces here. Traditional long term care insurance, hybrid life policies, annuities with care benefits, using a HELOC or reverse mortgage, self funding with investments, even Medicaid planning. And if you're like a lot of us, you're not sure what fits where. Our brand new long Term Care planning guide lays out all of your options side by side, including the pros, the trade offs and who each strategy is may be appropriate for. It's designed to help you think through this before a health event forces the decision. If, like Kris, you're starting to think about long term care insurance, do yourself and your family a favor, click or tap the link in the episode description and download the long Term Care planning guide for free. Start building a plan now so you're not scrambling later. Yours free courtesy of youf Money, you Wealth and Pure Financial Advisors. And side note, Pure does not sell long term care insurance or any investment or financial products for that matter. So this guide truly is an unbiased look at your planning options for the future.

[Joe Anderson]

Let's see. Rojo from Los Angeles, the City of Angels.

[Big Al Clopine]

Wow, you pronounce that right. You didn't say Rojo.

[Joe Anderson]

Rojo. Rojo. Rojo. Hi, Joe.

[Big Al Clopine]

Oh,

[Joe Anderson]

wow. They're just. Rochelle's just calling me out here. Hi, Joel.

[Andi Last]

All Joe and all. So it's Joe and the rest of us.

[Joe Anderson]

All right.

[Big Al Clopine]

Okay. All right. Well, I'll accept that.

[Joe Anderson]

Okay. I enjoy listening to your YouTube content. I'm 52, widowed, with two children age 21 17. I'm debt free with a paid off mortgage here in Los Angeles suburb of California. I want to retire by 57. My financial snapshot is as follows. Here's the asset breakdown. Paid off house $900,000 401 in Roth IRAs. $200,000 traditional 401 in traditional IRA. $1,400,000 cash, 70 grand brokerage $450,000, $529,000. College savings is $116,000. Got other assets, vehicles, RV, guitars.

[Big Al Clopine]

There you go. Must be some nice ones.

[Joe Anderson]

Yeah, Rojo. She's jamming on the guitar. And the rv.

[Big Al Clopine]

I think so.

[Joe Anderson]

He's got the vehicles towing in the back. Here's the goals. Retirement, annual expenses in today's dollars, 82,000. Annual retirement health cost prior to Medicare is going to be 12,000. Guesstimate. Okay. Annual lifestyle vacations 8,000. Seven year recurring car fund, 40 grand. Additional college fund 40 grand. One time Lasik surgery, six grand facelift, 100 grand.

[Big Al Clopine]

Okay, that was made up.

[Joe Anderson]

That was made up. Wedding unbeveraged one time Lasik surgery.

[Big Al Clopine]

Yeah.

[Joe Anderson]

Wedding gifts for children $10,000 each.

[Big Al Clopine]

Planning ahead.

[Joe Anderson]

All right.

[Big Al Clopine]

Yeah.

[Joe Anderson]

Legacy inheritance for children 500. Okay. Pre retirement income breakdown. Annual employment salary is $140,000. Okay. Social Security minor monthly survivor benefit until March of 2026 is $2,600. Post retirement income breakdown, we got Social Security annual spouse Survivor benefit from 60 to 67 is 24,000. Social Security annual full retirement benefits sell from 67. The end of life is $43,200. Maxing out my Roth 401 contribution with ketchup, $500 a month towards the company stock program. My current investment allocation is about 80% equities. My first son just graduated from college without any student loans nor parent plus loans. My second son is expected to enter college the summer of 2026 with the estimated cost of $40,000 per year. I plan to use the 529 and save through cash flow. Through cash flow with any shortage. All right. I plan to claim Social Security annual spousal survivor benefit at age 60 and expect to receive about $24,000 annually. This is under the assumption that I will not remarry before the age 60. Otherwise I will forfeit this benefit. I want to earmark and use this to fund my pre. My.

[Andi Last]

I think that's supposed to be Medicare.

[Joe Anderson]

My pre Medicare health insurance and long term care insurance. Given my good overall health, I'm assuming a life expectancy of 92. Given my financial snapshot, can I retire comfortably at 57? Thanks for your insight.

[Big Al Clopine]

Okay, well, here's he's 52. That's five years from now Joe. Okay, I got about $2,100,000. Based upon what he's saving, I come up conservatively with about $38,000 per year. Six percent ends up with about $3 million at $57,000. And at 57, if you look at his spending, is Ro a girl or a guy? Well, good question. I assumed him, but maybe it's her you look at.

[Andi Last]

If it was a her, I think it would Roja.

[Big Al Clopine]

Oh yeah.

[Andi Last]

So I believe Rojo is male.

[Big Al Clopine]

Rojo. See, I'm thinking Espanol spending 82,000. Estimating additional medical insurance $12,000, vacations 8,000. That's 102,000, Joe. I did a five year, 3% inflation. I get 118. So I take 118 from 57 to 60.

[Joe Anderson]

118 of what?

[Big Al Clopine]

Of spending shortfall, thank you. Into 3 million I get 3.9%. So it's a little tight. But on the other hand, at 60, there's 24,000 of fixed income. Now the shortfall is about 94,000. It's about a 3.1% distribution rate and that's even before bigger Social Security. So I think this probably works.

[Joe Anderson]

Tight.

[Big Al Clopine]

It's always tight when you retire in your 50s, unless you got just a

[Joe Anderson]

big pile of money or you spend way low to the ground.

[Big Al Clopine]

True, I, I think it works, but you know, it's, it's one of those.

[Joe Anderson]

If you were Rojo, would you retire 57? Given the snapshot, I'd probably go to 60 personally. Yeah.

[Big Al Clopine]

To get to the 24,000, I would definitely go to 60 if it were me. But you know, if, if you want to, if you want to get out.

[Joe Anderson]

I, I, I suppose. How miserable are you?

[Big Al Clopine]

Yeah, right, right, right.

[Joe Anderson]

Could you hold on for another three years? Or is that three years going to

[Big Al Clopine]

put, or maybe 10 years on the end? You don't do the bigger vacations until 60, when you get more income. I don't know. There's ways you could do it.

[Joe Anderson]

Yeah, I don't know. 57, that's young.

[Big Al Clopine]

It is young.

[Joe Anderson]

Rojo's making 150 grand. That 150 fixed income goes to 24. That's a big difference. And then you start spending your money. Look at all these goals too. It's like, I love that they're mapping things out. You know, one time, Lasik winning gifts, legacy, inheritance.

[Big Al Clopine]

I didn't count any of that. And, and at the, at this level, I'm not so sure there's a big inheritance.

[Joe Anderson]

Yeah, unless, unless the market, the market keeps going. Yeah, yeah, but you can't really count on that. I don't know, this is, you gotta admit there, I think there's ro span a little bit more. Come on, you got vehicles, RVs, guitars. Yeah, you think there's more guitars in the future?

[Big Al Clopine]

Yeah, but they've already, he's already saved 2.1 million.

[Andi Last]

Every guitar player has gas gear acquisition syndrome. So yes, I bet there probably is more guitars in rose future.

[Joe Anderson]

Yep, guaranteed.

[Big Al Clopine]

So anyway, so that's our thought. Maybe work till 60. I think it could work, but I'd be even more comfortable at age 60. I think.

[Joe Anderson]

I think so, too. There's great job first off.

[Big Al Clopine]

Oh, yeah.

[Joe Anderson]

A lot of assets, a lot of great, no debt, spending $82,000. Not over your skis. You've already mapped out some of these goals. You're thinking about the future. 57 is just a little bit. It's a long retirement. That. That retirement is going to be almost as long or longer than your working years.

[Big Al Clopine]

Almost. Yeah. Yep. So maybe that's okay.

[Joe Anderson]

Yeah. You know, widower, widowed, like, hey, I'm gonna. I wanna have fun. Life is short. And so, Yeah, I think you throw real life in there. Maybe you go ahead and do it right, because you can always tone it down.

[Big Al Clopine]

You can always turn it.

[Joe Anderson]

Very little debt and there's no debt, so.

[Big Al Clopine]

Yeah. Right. And the. And like he says, the vacation, that. That's just an add on. Right. Doesn't have to happen.

[Joe Anderson]

Right. You got an rv, Just sit in the rv, play your guitar, take your

[Big Al Clopine]

guitar, go drive to the nearest park. All good. That'd be great. Yeah, wouldn't it?

[Joe Anderson]

That's. That's definitely my retirement. Did you watch super bowl now?

[Big Al Clopine]

I sure did. Defensive game, wasn't it?

[Joe Anderson]

Did you enjoy it?

[Big Al Clopine]

I did okay. I was rooting for the Seahawks. How were you? Yeah. Did you have. Did you care?

[Joe Anderson]

No, I didn't care.

[Big Al Clopine]

You didn't care?

[Andi Last]

Did you watch?

[Joe Anderson]

Yeah, it was boring.

[Big Al Clopine]

I watched with Anne and then I was watching the football game and then every time a commercial, I. Commercial alert. And then she paid attention and then got it. That's how we did it.

[Joe Anderson]

Do you have a favorite commercial?

[Big Al Clopine]

Yeah, I. Gosh, there was a couple. I like the one about the farm. The daughter getting the farm from the father. That was pretty touching, I thought.

[Joe Anderson]

Oh, the potato farm.

[Big Al Clopine]

Yeah. Yeah, I thought that was cute. All right. You know I like happy.

[Joe Anderson]

Yeah, I know. Let's just take one last spin, little girl. Let's do it together.

[Big Al Clopine]

That's right.

[Joe Anderson]

Okay. All right, let's go to. Back to Joe here. And that's it. That's it for us.

[Andi Last]

Excellent. Thank you very much. That was a lot. You helped a lot of people retire early or gave them some pragmatic things to think about before they do, so.

[Joe Anderson]

I'm exhausted. I think I want to retire.

[Big Al Clopine]

I think I'm mostly retired.

[Joe Anderson]

I think I aspire to be you someday, Al.

[Big Al Clopine]

You'll get there.

[Joe Anderson]

All right, that's it for us. We'll see you again next week. Show's called you'd Money, you, Wealth.

[Andi Last]

Next week on youn Money, you, Wealth. Carl and Jane need a spitball on a 13030 strategy for their $8 million portfolio. Tyrone and Tova wonder if they really need to do Roth conversions if they never need their retirement accounts at all. How can Mark in San Diego balance Roth conversions, irmaa and Social Security timing without blowing up his tax bill? And how should boat Drinks structure payouts from his big non qualified deferred comp plan before it turns into a tax nightmare? YMYW is your podcast and this show would not be a show without you. So let's spread the knowledge and the humor. Tell a friend about us. Leave your honest ratings and reviews for your money. You wealth in Apple Podcasts, Amazon, Audible, Castbox, GoodPods, Pandora, Player, FM, Podcast Addict or Podchaser or all of them. I ain't stopping you and find us on YouTube. Subscribe turn on notifications and comment on our content. You can like or dislike it there too. Again, I ain't stopping ya to see how tax efficient and practical your financial plan really is, whether you want to retire early or late, a free assessment with Joe and Big Al's team at Pure Financial Advisors is a much deeper and more accurate dive into your finances than a quick YMYW spitball. They'll arm you with a plan that's personalized just for you and tailored for your needs and goals in retirement. You can meet with the Pure team via Zoom no matter where you are or in person, face to face at one of our Pure Financial offices in San Diego Woodland Hills in the Los Angeles area Irvine and Brea in Orange County, California Davis in the Sacramento area Redmond and Mercer island in the Seattle area Greenwood Village in the Denver area Prescott in the Phoenix area Lehigh in the Salt Lake City area Wheaton and Northbrook in the Chicago area and Franklin in the Nashville area. Click or tap the free Financial assessment link in the episode description or call 888994, 6257 and book your free assessment today. Pure Financial Advisors is a registered Investment Advisor. This show does not 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.