Spousal Social Security, Retirement Expenses and Roth Conversions | YMYW Extra - 4
About this episode
How much do retirees really spend in retirement? Does the Social Security Primary Insurance Amount (PIA) continue to rise with inflation? Is all the talk about higher future tax brackets just fear-mongering? Can "Johnny Mercer" afford to leave money for his heirs, and what should his strategy be for converting his retirement savings to Roth IRA for tax-free growth on his money? While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, Your Money, Your Wealth® producer Andi Last enlists the help of senior financial advisor Rachel Fuss, CFP®, MPH from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in Mercer Island, WA, to see if they can "Ac-cent-tchu-ate the Positive" for Johnny in YMYW Extra number 4. Free financial resources and transcript: https://bit.ly/ymywe-4
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Timestamps:
00:00 - Intro
01:17 - Johnny Mercer's Cars, Drinks and Pets
02:19 - Will Social Security Primary Insurance Amount Continue to Rise With Inflation?
05:20 - Retirement Spending: What's Reality?
06:40 - Are Future Higher Tax Brackets Just Fear-Mongering?
08:21 - How Much Can We Afford to Spend and Still Leave Money for Heirs?
11:07 - Final Considerations & Roth Conversion Strategy
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