He Has $10M and Can't Spend It. Here's Why. - 594

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Today on Your Money, Your Wealth® podcast number 594, Joe Anderson, CFP® and Big Al Clopine, CPA spitball retirement planning for high net worth couples: Gary in Pennsylvania is 54 with $10 million, and get this, he still can't decide whether he can walk away or if he needs to grind out a few more years. What is up with that? But before we get to Gary, Frida and Diego are 54 and 52 in California with $5.3 million, itching to start their go-go years. Can they both retire right now? And is $200,000 a year of spending pushing it? Stanley and Stella in New York have a pension decision to make. Choosing the wrong option could leave one of them exposed for life.

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https://bit.ly/ymyw-594 (full show notes & episode transcript)

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Chapters:

00:00 - Intro: This Week on the YMYW Podcast

00:56 - 54 and 52 with $5.3M. Can We Both Retire Now? (Frida & Diego, CA)

18:13 - Which Pension Option Protects Us Both? (Stanley & Stella, NY)

30:23 - Should We Retire at 54 with $10 Million? (Gary, PA)

40:51 - Outro: Next Week on the YMYW Podcast

42:14 - The Derails: Frida & Diego, Tesla, Kir Royale, Streetcar and Brando, Joe's pool remodel