Mike and his wife in Tampa are 39 and 36, they’ve got nearly a million bucks saved. Are they on track for retirement? Kate in California is 55 and hopes to retire in the next couple of years. How should she manage deferred compensation and retirement withdrawals? That’s today on Your Money, Your Wealth® podcast number 514 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Plus, Joe and Big Al answer questions from our YouTube viewers on considering IRMAA when making Roth conversions, paying Roth conversion taxes quarterly or in December or in January, protecting a gifted house from a child’s ex, and the tax impact of rebuilding on an inherited property. Finally, 8 years ago, Joe and Big Al said you shouldn’t have more than 2% of your portfolio in gold and one YouTube viewer said that did not age too well. What do the fellas think today? We’ll find out.

Access free financial resources and the episode transcript: https://bit.ly/ymyw-514

DOWNLOAD the Cruising Into Retirement Checklist and Guide

WATCH How to Cruise Into Your Retirement on YMYW TV

DOWNLOAD the Withdrawal Strategy Guide for free

ASK Joe & Big Al for your Retirement Spitball Analysis

SCHEDULE your Free Financial Assessment

SUBSCRIBE to YMYW on YouTube

DOWNLOAD more free guides

READ financial blogs

WATCH educational videos

SUBSCRIBE to the YMYW Newsletter

Timestamps:

00:00 - Intro: This Week on the YMYW Podcast

00:56 - 39 & 36 With Nearly $1M. How Are We Doing? (Mike, Tampa, FL)

07:30 - Watch How to Cruise Into Your Retirement on YMYW TV, Download the Cruising Into Retirement Checklist and Guide by Friday, Jan. 31, 2025!

08:14 - Hoping to Retire in the Next Couple of Years. How Should I Manage Deferred Comp and Withdrawals? (Kate, CA, 55)

16:23 - Download the Withdrawal Strategy Guide for free

16:56 - Roth Conversions Prior to IRMAA for Alex in podcast 510? (Thomas, YouTube)

18:54 - How to Pay Roth Conversion Taxes Before Filing 2024 Taxes? (PoolMileThirty, YouTube)

21:39 - Paying Roth Conversion Tax in December vs. January (TacticalTruth, YouTube)

22:53 - How To Avoid Child's Ex Taking Half of Gifted House? (Emjay, YouTube)

23:53 - Will Kids Keep Stepped Up Basis If They Build New House on the Property? (Thaigera, YouTube)

27:53 - Gold Doesn't Grow? That Didn't Age Well (Eldon, YouTube comment)

29:39 - Outro: Next Week on the YMYW Podcast