It’s a voice message extravaganza today on Your Money, Your Wealth® podcast 464 as Joe Anderson, CFP® and Big Al Clopine, CPA talk about tax gain harvesting on Dante in NY’s daughter’s custodial account, and the tax impacts of Leon in Chicago investing in his brokerage account. The fellas also spitball on whether Michelle in San Diego, en route to San Francisco, should buy or rent in her 60s, the mega backdoor Roth and the pro rata rule for Sean and his cichlids in Winter Springs, FL, and whether Jason in NOLA can do the backdoor after recharacterizing his contribution. Plus, should Kevin in OH make like the Steve Miller Band and "take the (pension) money and run"? Can Scott in CO make like Johnny Paycheck and "take his job and shove it" when it’s time for the rule of 55? And should Suzi and Peter consider long-term care insurance and protecting their assets with an irrevocable trust? Podcast show notes, free financial resources, episode transcript: https://bit.ly/ymyw-464

00:00 - Intro
01:07 - Custodial Account Tax Gain Harvesting: Reported on My Daughter’s Taxes or Mine? (Dante, NY)
05:17 - Tax Impacts of Investing in a Brokerage Account? (Leon, Chicago)
10:50 - 3 (okay, 4) ways you make YMYW the show that it is
Ask Joe & Big Al On Air for your #RetirementSpitball Analysis: https://bit.ly/AskJoeAndBigAl
12:28 - Is it Better to Buy or Rent in My 60s? (Michelle, San Diego)
19:50 - Mega Backdoor Roth & the Pro-Rata Rule (Sean, Winter Springs, FL)
26:56 - Should I Take the (Pension) Money and Run? (Kevin, OH)
32:13 - Money Makeover Guide - limited-time special offer - download by this Friday! https://purefinancial.com/ymyw/#ymyw-...
Complete Money Makeover - How to Do a Financial Facelift - YMYW TV: https://purefinancial.com/ymyw/episod...
33:08 - Should We Consider Long-Term Care Insurance and Protecting Our Assets with an Irrevocable Trust? (Suzi & Peter, SD)
39:23 - Can I Do a Backdoor Roth After a Re-characterization? (Jason, NOLA)
43:42 - Spitball My Early Retirement Plan & the Rule of 55 (Scott, CO)
52:29 - The Derails

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CFP® - The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years 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.