Podcasts Business Investing Your Money, Your Wealth Advisor Touts 8% Returns, But Says I Can Only Withdraw 4%?! - 459

Advisor Touts 8% Returns, But Says I Can Only Withdraw 4%?! - 459

Published: Dec. 12, 2023, noon

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Do financial advisors have some secret blood handshake that they\\u2019ll all\\xa0 claim they can get you 8 percent returns, but then tell their clients they can only withdraw 4 percent in retirement? That\\u2019s Mark in Minnesota\\u2019s question today on YMYW. Plus, should Matthew in Seattle quit the DIY approach to his finances and hire a fee-based financial planner? What do Joe and Big Al think about Steven in Connecticut\\u2019s \\u201copposite of sequence of returns risk\\u201d strategy for retirement withdrawals and \\u201cbonuses\\u201d? Can listener Joe have an active and comfortable retirement at age 62? Elle in Los Angeles needs some spitballing on contributing to traditional or Roth 401k, student loans, and the potential tax benefits for paying mother in law for babysitting. The fellas also answer some more last-minute year-end tax questions for George, and for Chuck in Idaho. But first, Mike in CO gets priority with his voice message about tax loss harvesting.

Timestamps:

  • 01:08 -\\xa0Any Reason Not to Do Tax Loss Harvesting? (Mike, Steamboat Springs, Colorado - voice)
  • 05:46 - Should I Switch from DIY to a Fee-Based Financial Planner? (Matthew, Seattle, WA)
  • 16:00 - If Advisor Touts 8% Returns, Why Can I Only Withdraw 4%? (Mark, MN)
  • 24:49 - 3% Retirement Withdrawals + Bonuses = Opposite of Sequence of Returns Risk? (Steven, CT)
  • 31:05 - Can I Have an Active and Comfortable Retirement at Age 62? (Joe)
  • 36:35 - 401k Vs Roth 401k Contributions, Student Loans, and Babysitting Tax Benefit (Elle, Los Angeles)
  • 41:16 - When to Pay Taxes on a 2023 Roth Conversion? (George)
  • 43:26 - Cost Basis: First In First Out to Minimize Taxes? (Chuck, ID)
  • 47:27 - The Derails

Access this week\'s free financial resources in the podcast show notes at\\xa0https://bit.ly/ymyw-459\\xa0

  • EASI Retirement Spitball Analysis: YMYW TV
  • EASIretirement.com Free Retirement Calculator
  • 6 Secrets to Bigger Tax Savings from Your Nonprofit Donations: YMYW TV
  • Tax-Smart Charitable Giving Guide
  • Episode Transcript
  • Ask Joe & Big Al On Air for your Retirement Spitball Analysis
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