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Learn simple steps for building wealth in retirement with Joe Anderson, CFP\xae and Big Al Clopine, CPA, in YMYW podcast episode 39. Dive into the optimal retirement withdrawal strategies for keeping your finances steady regardless of market uncertainty. Later in the hour, find out if a reverse mortgage is right for you. Original publish date June 18, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed.\xa0

00:00 - Intro
04:23 - \u201cIn 2013 the Reverse Mortgage Stabilization Act was passed and you\u2019ve probably heard a lot of bad things about reverse mortgages but a lot of those bad things have been eliminated or curtailed substantially\u201d
05:50 - \u201cI think the 4% rule is a very, very good tool when you\u2019re trying to understand how much money you need to accumulate to retire\u201d
09:23 - \u201cWhat we\u2019re going to talk about today is really one of the most important pillars of retirement planning; it\u2019s withdrawing money from your retirement accounts\u201d
14:2 - \u201cMost people\u2019s assets are in retirement accounts\u201d
16:55 - \u201cYou need to maximize the amount of money that you are receiving from Social Security because that is going to be a large fixed income source for you that is guaranteed by the Federal government\u201d
22:08 - \u201cA reverse mortgage can never be reduced, frozen or cancelled, and there are no monthly loan repayment requirements\u201d
27:43 - \u201cAs you near retirement, tax planning becomes more important than ever, but you must use a forward-thinking tax strategy\u201d
29:59 - \u201cTo continue on our discussion about if you retire and you\u2019re trying to pull money out of your accounts and the markets goes way down, a reverse mortgage is yet another potential solution to this\u201d
34:44 - \u201cReverse mortgages are tax-free"