We're playing "which comes first" today on Your Money, Your Wealth® podcast number 551 with Joe Anderson, CFP® and Big Al Clopine, CPA. "Retired G-Man and Nurse Ratched" from Pennsylvania have saved $2 million. Should they withdraw money first from their IRA or their taxable accounts in retirement? "Mike and Carol in Florida" want to know when and how much to convert to Roth, but they're also sitting on a mountain of company stock. Should they deal with that first? Mackey in Florida is 55 and wonders if he can retire now with $2.6 million and some lingering debt - but there's an important first he's missing too! Plus, Mike in Utah asks Joe and Big Al to spitball on a plan for his 90-year-old mom's $1.9 million annuity, and Doc McMuffin in Minnesota asks for the fellas' take on her plan to gift appreciated assets to her parents.
Free Financial Resources in This Episode:
https://bit.ly/ymyw-551 (full show notes & episode transcript)
YourMoneyYourWealth.com - all our financial resources! Ask Joe and Big Al, blogs, workshops, financial guides, and 11 seasons of YMYW TV!
10 Big Retirement Regrets to Avoid (Before It's Too Late) - YMYW TV
Financial Blueprint (self-guided)
Financial Assessment (Meet with an experienced professional)
REQUEST your Retirement Spitball Analysis
DOWNLOAD more free guides
READ financial blogs
WATCH educational videos
SUBSCRIBE to the YMYW Newsletter
Connect With Us:
YouTube: Subscribe and join the conversation in the comments
Podcast apps: subscribe or follow YMYW in your favorite
Apple Podcasts: leave your honest reviews and ratings
Chapters:
00:00:00 - Intro: This Week on the YMYW Podcast
00:00:53 - How to Retire at 55 With $2.6M and Debt? First, How to Write a Good Spitball Request (Mackey, FL)
00:03:46 - Sequence of Retirement Withdrawals: IRA First or Taxable First? (G-Man and Nurse Ratched, PA)
00:12:10 - Roth Conversions vs Concentrated Stock: Which Comes First? (Mike & Carol, FL)
00:29:27 - What to Do With 90-Year-Old Mom's $1.9M Annuity? (Mike, UT)
00:40:59 - Is Gifting Appreciated Assets to Parents Tax-Smart or Risky? (Doc McMuffin, MN)
00:48:27 - Outro: Next Week on the YMYW Podcast
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Male Room with Dr. Jesse Mills
As Director of The Men’s Clinic at UCLA, Dr. Jesse Mills has spent his career helping men understand their bodies, their hormones, and their health. Now he’s bringing that expertise to The Male Room — a podcast where data-driven medicine meets common sense. Each episode separates fact from hype, science from snake oil, and gives men the tools to live longer, stronger, and happier lives. With candor, humor, and real-world experience from the exam room and the operating room, Dr. Mills breaks down the latest health headlines, dissects trends, and explains what actually works — and what doesn’t. Smart, straightforward, and entertaining, The Male Room is the show that helps men take charge of their health without the jargon.