Today on Your Money, Your Wealth® podcast 400 with Joe Anderson, CFP®, and Big Al Clopine, CPA, are there any holes in a 5-year plan to retire from the Air Force, buy a house and a plane, and become a commercial pilot? Can you claim an unpaid loan to a start-up as a tax loss, do a Roth conversion, and pay no tax? Are Roth conversions a good idea in a low-earnings year? Does it matter if you convert to Roth before or after changing custodians? What retirement savings options do independent contractors have besides the Solo 401(k)? Does it make sense to cash out a 529 college savings plan that’s losing money? Plus, Joe and Big Al spitball a real estate strategy, and they discuss a state retirement account held at an insurance company. Show notes, free financial resources, transcript, Ask Joe & Big Al On Air:

00:00 – Intro
01:00 – 5-Year Plan on Track to Retire From the Air Force and Become a Commercial Pilot? (Mike, Germany)
08:15 – Claim an Unpaid Loan as a Tax Loss, Do a Roth Conversion, Pay No Tax? (Cynthia, TN)
14:39 – Download the Ultimate IRA Guide:

15:18 – Converting to Roth IRA in a Low-Earnings Year: How’s My Strategy? (Christine, Seattle)
23:04 – Independent Contractor Retirement Savings Options Besides Solo 401(k)? (Casi, San Angelo, TX)
25:52 – Roth Conversion Then Change Custodian or Vice Versa? (Rhonda)
28:32 – Register for the Understanding Medicare webinar, October 26 12pm PT:

29:27 – Real Estate: Taxes, Depreciation, and the Primary Residence Exclusion (Kenneth, Chicago)
36:15 – Should I Cash Out 529 Plan for College Savings That’s Losing Money? (Todd, La Mesa)
38:58 – My State Retirement is Held at an Insurance Company. What Can I Do?

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• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
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• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
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.

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