What is private credit and where does it fit in your investment portfolio? At age 60, Hope is tired of working, and she’s hoping to retire in 2-3 years. Should she factor home equity into her retirement spending plan with a reverse mortgage? Which mortgage option for a dream home is best for Nisa’s early retirement goals? That’s today on Your Money, Your Wealth® podcast number 476 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Wayne needs to know how the section 121 tax exclusion works on a vacation home, and Jack and Jill in the UAE have questions about tax gain harvesting and the foreign earned income exclusion. Finally, are Joe and Big Al off their strategy game? A Spotify listener takes the fellas to task about the Affordable Care Act subsidy discussed in episode 472 and challenges their spitball for Duke and Daisy’s retirement spending plan in episode 475. Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at bit.ly/ymyw-476
00:00 - Intro
01:03 - What Is Private Credit?
08:07 - Is a Reverse Mortgage Right for Me?
14:21 - Using Reverse Mortgages To Secure Retirement with Dr. Wade Pfau - YMYW Podcast 117: bit.ly/ymyw-117
How Your Home Can Create Retirement Income - YMYW TV: purefinancial.com/ymyw/episod...
14:59 - Which Mortgage Option is Best for Me in Early Retirement?
24:04 - Section 121 Tax Exclusion on a Vacation Home?
26:48 - What You Need to Know Before Filing Your Taxes in 2024 webinar: purefinancial.com/ask-pure/wh...
2024 Tax Planning Guide: purefinancial.com/white-paper...
27:39 - Foreign Earned Income Exclusion: Can I Harvest Long-Term Capital Gains?
37:06 - ACA Subsidy & Retirement Spitball: Are Joe and Big Al Off Their Strategy Game?
45:02 - 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.