High Net Worth Pre-Retirees Share Their Biggest Fear (Here’s How to Calm It) - 566

"Mr and Mrs Smith" have nearly $850,000 saved at age 43, but they're very concerned about retirement. "Lucy and Desi" are 58 and 64 with nearly $7 million saved, but they still lie awake wondering if it's enough for their high-expense life. "Tony and Carmela" are in a similar boat with millions saved at 61 and 59, but they're worried their asset allocation won't get them through their retirement. No matter the numbers, the fears sound exactly the same: will you run out of money in retirement? Turns out overcoming that fear is not about hitting a magic number. We'll find out what it's all about today on Your Money, Your Wealth podcast number 566 with Joe Anderson, CFP®, and Big Al Clopine, CPA. The fellas also spitball Roth conversions, long/short direct indexing capital gains tax strategies for "Juicy Squeeze", working after retirement for Wendi, and how one confusing word can completely change a retirement timing decision for "Jacques and Johana."

Free Financial Resources in This Episode:

https://bit.ly/ymyw-566 (full show notes & episode transcript)

Withdrawal Strategy Guide - free download

Financial Blueprint (self-guided)

Financial Assessment (Meet with an experienced professional)

WATCH 6 Signs You Truly Have "Enough" For Retirement on YMYW TV

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Chapters:

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

01:01 - 43 With $850K. Am I Too Late to Build Enough Roth Money? (Mr & Mrs Smith, Dallas, TX)

11:29 - Nearly $7M Saved at 58 and 64. Do We Have Enough for a High-Spend Retirement? (Lucy & Desi, Jersey Shore, NJ)

23:38 - 61 and 59 With $4.5M Saved. Can I Retire Now With a 50/50 Portfolio? (Tony & Carmela, San Ramon, CA)

32:09 - Mid-50s with $685K Saved. Can One Spouse Retire While the Other Works? (Jacques & Johana, Florida)

38:53 - Are Long-Short Direct Indexing Tax Strategies Worth the Fees? (Juicy Squeeze)

47:04 - Should I Work as an Employee or Contractor After 70 on Social Security? (Wendi)

52:04 - Outro: Next Week on the YMYW Podcast