Are You Cutting Retirement Too Close?

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"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?

Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation.

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 - $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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CFP® - The CERTIFIED FINANCIAL PLANNER® certification is by the CFP Board of Standards, Inc. To attain the right to use the CFP® mark, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. 30 hours of continuing education is required every 2 years to maintain the certification.
AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.

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