Episode Overview

Podcast: Your Money, Your Wealth
Hosts: Joe Anderson, CFP® & Alan “Big Al” Clopine, CPA (Pure Financial Advisors)
Episode: Retirement Finances Whether You're Married, Separated, or Single – #561
Release Date: December 23, 2025

This encore episode of "Your Money, Your Wealth" answers pressing listener questions about retirement planning in all kinds of relationship situations: married, separated, or single. Joe and Big Al combine upbeat banter with expert-level spitball analysis, covering questions about finances and marriage (including whether to tie the knot at a later age), navigating separation or divorce, retirement readiness for dual-income and single earners, Social Security strategy, handling unexpected home expenses, Roth conversion planning, and sustainable withdrawal rates. Notable for its candid, jargon-busting humor and financial wisdom, the episode offers tactical advice applicable to listeners at any life stage.

Key Discussion Points & Insights

1. Should Old Bear Marry His Honey?

(Listener Question #1 – "Old Bear and his honey" in Northern Kentucky)
[01:09 – 08:31]

• Situation:

  • Old Bear (62), recently retired, $770,000 in taxable assets, $780,000 in retirement accounts, $1 million in Roth (tax-free), $200k mortgage, planning $440k remodel.
  • His girlfriend: 44, low income, two kids (14, 19), frugal, $20k in 401k, no debt.
  • They plan to live together, possibly marry after her child support ends (in 4 years).
  • Wants to know if marriage makes financial sense.

• Key Analysis and Advice:

  • On Marriage for Financial Reasons:
    “You never really want to get married for financial reasons, especially when you're holding all the cards here…” (Joe, 05:04)

    • Joe and Al both stress that marrying for love trumps financial reasoning; however, they acknowledge significant tax and Social Security benefits for marriage.

  • Tax Considerations:

    • With her low income, marriage could allow for joint filing, leveraging wider tax brackets (12% bracket doubles for couples).
    • Old Bear’s large Roth balance is rare: “How many people do you think … have over a million dollars in a Roth account?” “It’s very rare.” (Joe & Al, 02:18)

  • Social Security:

    • If Old Bear passes, spouse could claim his higher benefit.

  • Asset Protection:

    • With a large disparity in wealth, they recommend a prenuptial agreement or trusts to ensure assets go where Old Bear intends.
    • “At what dollar figure does it make sense to have a prenuptial agreement?” – “At any dollar amount, depending on your wishes… at the very least, a trust agreement.” (Andi & Al, 08:00)

  • Children and Timing:

    • Waiting until child support obligation ends before marriage to avoid jeopardizing that support is prudent.

2. Navigating Separation and Divorce – Sebastian in Virginia

[08:40 – 15:13]

• Situation:

  • Sebastian is preparing for a separation and wants guidance on asset and debt division, protection, and long-term implications.

• Key Analysis and Advice:

  • First Steps:

    • “Inventory everything you have, what’s joint, what’s separate.” (Joe, 11:19)
    • Take stock of all financial assets, liabilities, and credit exposures.

  • Credit & Debt:

    • Separate joint accounts and credit cards where possible to minimize exposure.
    • Isolate responsibility for loans (especially the mortgage).

  • Division of Assets:

    • Most marital assets are divided equally unless inherited or clearly separate.
    • “Retirement accounts aren't equal to cash; you have to factor in taxes when splitting accounts.” (Joe, 12:17)
    • Cash is immediately accessible, while pre-tax retirement funds are not dollar-for-dollar equivalent due to future taxes.

  • Immediate Safeguards:

    • Secure documentation of assets (statements), separate credit, and open communication if possible.

  • Legal Help:

    • “Find an attorney that specializes in this because they're really the ones that generally do this…” (Big Al, 15:00)
    • A divorce attorney will ensure fair division, taking all variables into account.

3. How Much Is Enough? Retirement Spitball for a Missouri Couple

[15:43 – 28:27]

• Situation:

  • Listener (52, “J.C. Penney and Laura Ingalls Wilder” reference) earns $170k, considering $120k less stressful federal job, plans to retire at 60.
  • Pension anticipated ($48k, survivorship for spouse, COLA), Social Security (combined ~$45k), $500k in TSP (some Roth), low mortgage, low cash reserves, $70k needed for home repairs.

• Key Analysis and Advice:

  • Overall Retirement Readiness:

    • “From a retirement perspective, he’s got $90,000 of fixed income. To generate that would require over $3 million (at 3% withdraw rate).” (Joe, 24:03)
    • Fixed income sources (pension and Social Security) set a solid foundation; TSP assets can fill remaining gaps.

  • Handling the $70k Home Expense:

    • Do NOT take a TSP loan:
      • “I do not take a TSP loan. I just take a conventional loan. 7% pay it, long period of time. That’s what I would do.” (Joe, 25:08)
      • TSP loans force you to repay with after-tax money, miss compounding in tax-advantaged accounts, and are limited to $50k.
    • Preferred option: Home Equity Line of Credit (HELOC) or other home loan; keep 3.25% mortgage intact, reduce TSP contributions temporarily if needed to accelerate payoff.

  • Spending & Withdrawals:

    • $17k annual retirement shortfall can be sustainably covered by existing savings at conservative withdrawal rates.

  • Health & Life Priorities:

    • “You gotta get your health. You’re young, 52. That’s the most important thing.” (Al, 28:04)
    • Given a recent health scare, reducing stress and not overworking is endorsed.

  • Memorable Moment:

    • “I’d find a new doctor, Big Al.” [re: doctor banning beer] (Joe, 20:30)

4. “Paul with the Big Wallet” — Managing a Long Retirement "Gap"

[28:27 – 38:50]

• Situation:

  • Paul (59), wife also 59, income $500k (will drop to $250k for a year or two before retirement), $2M+ investment assets, $2M in home equity, plans to retire at 61, bridge years until Social Security at 70. Targeting $155k annual expenses.

• Key Analysis and Advice:

  • Sustainable Withdrawal Rate Concern:

    • “Burning down total savings during those years between is kind of freaking me out, but if we can end near 4% at age 66, I think we’ll be close.” (Paul’s letter, 33:03)
    • Joe and Al both express concern that a 6.7% to 5% drawdown rate (before Social Security kicks in) is too aggressive:
      “At age 60 … maybe a 4% distribution rate and you’re 6.7. … It’s just too far out of whack.” (Big Al, 35:04)

  • Mitigation Strategies:

    • Delay full retirement or keep working part-time longer than planned.
    • Seek to cut spending, if possible.
    • Consider claiming Social Security earlier or selling the vacation home to bolster savings.
    • “There’s really not much cushion here. In fact, I don’t think there’s quite enough to do it. But cutting spending would be one way to go. Working part time for a few more years would be a way to go. Selling your vacation condo, that would be a way to go…” (Big Al, 38:19)

  • Behavioral Take:

    • Liquidity can drop quickly in market downturns, especially when drawing large sums pre-Social Security.

5. Aspiring Adventurer: Single, Ready to Retire Early in Oregon

[39:20 – 50:22]

• Situation:

  • 51, female, single, wants to retire at 58 (2032), $1.1M in assets, works in 911/public safety (eligible for $80k pension), hopes to travel and live off ~$100k/year initially.

• Key Analysis and Advice:

  • Retirement Readiness:

    • “Do I appear to be on track to retire at 58?” — “The answer is yes!” (Al, 44:28)
    • With $2M projected net worth at 58 and a large pension, shortfalls are minimal; 2.3% withdrawal rate pre-Social Security; will likely have a surplus once Social Security starts.

  • Roth vs Pre-tax Contributions:

    • Consider switching 457 contributions to Roth to increase tax-free income in retirement. At her current tax rate, this is advisable.
    • “I would totally flip, go to Roth. Now, her income is $128,000. You can do a backdoor Roth…” (Joe, 46:50)

  • Inherited IRA:

    • Does not count for pro-rata rule, so backdoor Roth is available.

  • Roth Conversion Ladder:

    • Depends on future tax brackets — "If you don't do that [Roth conversions], by the time you have Social Security and RMD, you’ll actually be in a higher bracket than you are now. That’s why you’re wanting to do this.” (Big Al, 50:03)
    • Continue Roth conversions after retirement, filling up to the 22% bracket if possible.

Notable Quotes & Memorable Moments

• On Marrying for Financial Reasons:

  • “You never really want to get married for financial reasons, especially when you're holding all the cards here.” – Joe Anderson, [05:04]

• On a Giant Roth:

  • “A million dollars, that’s pretty impressive… We see millions and millions in retirement accounts… $0 in Roth.” – Joe, [02:36]

• On Divorce & Splitting Assets:

  • “Retirement accounts aren't equal to cash; you have to factor in taxes when splitting accounts.” – Joe, [12:17]

• On Home Repairs and TSP Loans:

  • “I do not take a TSP loan. … TSP loans, you have to pay back after-tax money… you never make it up.” – Joe, [25:08]

• On Sustainable Retirement:

  • “He can take his foot off the gas now because he needs $550,000 at a 3% distribution rate today. … And I believe he has more than that today.” – Joe, [27:02]

• On Uncomfortable Retirement Drawdown Rates:

  • “At age 60 … maybe a 4% distribution rate … you’re 6.7. … It’s just too far out of whack, at least for my comfort.” – Big Al, [35:04]

• On Single Retirement Security:

  • “You got a giant pension… By the time you claim Social Security, you'll probably be at a surplus.” – Joe, [44:30, 45:02]

Timestamps for Important Segments

| Timestamp | Topic/Speaker(s) | |-----------|-----------------------------------------------------------------| | 01:09 | Old Bear’s marriage dilemma | | 05:04 | Joe on marriage for financial reasons | | 08:00 | Prenup/trusts for significant age/wealth gaps | | 08:40 | Sebastian’s separation/divorce spitball | | 11:19 | Taking financial inventory during separation | | 15:43 | Missouri couple: Retirement readiness, TSP, home repairs | | 20:30 | Joe jokes: “I’d find a new doctor” (about alcohol prohibition) | | 25:08 | Why not to take a TSP loan for home improvements | | 27:02 | Joe on sufficient retirement portfolios | | 28:27 | Paul with the big wallet: Withdrawal rate “bridge years” | | 33:03 | Listener unease about depletion before Social Security | | 35:04 | Big Al’s caution on high withdrawal rates pre-SS | | 38:19 | Solutions: cut spending, work part-time, sell second home | | 39:20 | Aspiring Adventurer in Oregon: Early retirement as a single | | 44:28 | Al: “The answer is yes!” (Can she retire at 58?) | | 46:50 | Joe: Flip to Roth 457 contributions for better future taxation | | 50:03 | Al: Continue Roth conversions to avoid future higher brackets |

Podcast Tone & Style

“Your Money, Your Wealth” maintains a laid-back, highly conversational tone that blends comedy (and the hosts busting on each other) with practical, evidence-based advice. Listeners can expect both approachable explanations of complex topics and memorable zingers — e.g., Joe’s struggles with reading listener emails, Big Al’s quips about withdrawal rates, and asides about 80s TV reruns.

Joe and Al make finance accessible, candidly share trade-offs and "real world" perspectives (e.g., “Find an attorney…” “Take care of your health first.”), and always circle back to the importance of personal values, family, and health, not just dollars and cents.

Summary Table of Key Listener Scenarios

| Caller(s)/Alias | Relationship Status | Main Issue(s) | Noteworthy Advice | |------------------------------- |------------------------|------------------------------------------|-----------------------------------------------| | Old Bear & Honey | Older man + younger woman | Whether to get married (financially) | Tax/social security benefits, manage asset risk, marry for love, use prenup/trust | | Sebastian (Virginia) | Separating | Navigating separation, asset protection | Inventory, split assets by type, separate debt, get legal counsel | | Missouri Couple | Married, midlife | Home improvements, early retirement move | Use HELOC, don’t tap TSP, focus on stress/health, fixed income > enough | | Paul with the Big Wallet | Married, high earners | Bridging to Social Security, withdrawal rates | Withdrawal rate too high pre-SS, delay retirement or reduce spending, consider condo sale | | Aspiring Adventurer (Oregon) | Single female, 51 | Retire at 58, optimize 457 and Roth usage| Yes, retire at 58; use Roth for 457 if possible, do Roth conversions, plan for inherited IRA |

Conclusion

This episode delivers strategic, scenario-based retirement planning spitballs for a range of relationship and demographic circumstances. Whether you're contemplating marriage with an 18-year age difference, nervously entering retirement solo, or navigating a gray divorce, Joe and Big Al’s practical advice, humor, and engaging storytelling help demystify financial decision-making. The underlying message: There are always trade-offs, and expert advice can help you make choices aligned with both your wallet and your heart.