"Rubble and Skye" in Minnesota want to spend $65,000 a year in retirement, and they’ll have $67K in annual fixed income. Are they cutting it too close? "Atouk and Tala" in New Jersey will have retirement money, Social Security, and “Lumpy,” their lump sum pension - will they be okay? We’ll find out today on Your Money, Your Wealth® podcast number 542 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, should David in Redondo Beach California use his Roth money to buy a home? And what do the fellas think about "Charlie Pepper" in Colorado using a home equity line of credit (HELOC) for retirement spending, instead of living off of pre-tax money?
Free financial resources & episode transcript: https://bit.ly/ymyw-542
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Timestamps:
00:00 - Intro: This Week on the YMYW Podcast
00:43 - $250K Saved, $67K Fixed Income, $65K Spending. Are We Cutting Retirement Too Close? (Rubble & Sky, MN)
05:20 - We Have a $700K Pension, $335K Retirement, Plus Social Security. Will We Be OK? (Atouk and Tala, NJ)
13:14 - Watch Financial Boot Camp on YMYW TV, Download the Investing Basics Guide
14:03 - Should I Use My Roth Money for a Home Purchase? (David, Redondo Beach, CA)
21:03 - Complete the 8th Annual YMYW Podcast Survey for your chance at a $100 Amazon e-gift card! (secret password: ymyw)
22:01 - HELOC vs. Pre-Tax Account for Retirement Spending (Charlie Pepper, CO)
34:23 - Next Week on YMYW Podcast: Guest Co-Host Marc Horner, CFP®
34:53 - YMYW Podcast Outro
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