If you’re normally a “casual commute” listener of The Money with Katie Show, prepare to park your car and whip out your notebook—today’s episode is a complex deep dive into exactly how you can set yourself up to pay no taxes or penalties in retirement on any of your pre-tax, taxable, and Roth funds, even if you retire in your thirties.
We’ll dig into how much a couple would need to save and invest to retire early and then break down how they can strategically access those funds for the most optimal tax-free outcomes. Remember to caffeinate before this one—your brain cells are about to be workin’ and twerkin’.
If you’re a visual learner, the YouTube video for this episode or the episode transcription may be your best friends.
—
Mentioned in the Episode
- IRS Tax Code: https://www.irs.gov/privacy-disclosure/tax-code-regulations-and-official-guidance
- Standard deduction for 2022: https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022
- 0% capital gains tax rate brackets for 2022: https://www.kiplinger.com/taxes/capital-gains-tax/602224/capital-gains-tax-rates
- Required Minimum Distributions (RMDs): https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds
- Roth IRA Five-Year Rule: https://www.investopedia.com/ask/answers/05/waitingperiodroth.asp
- Compound interest calculator: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
- Combining finances for marriage: https://moneywithkatie.com/blog/what-to-consider-when-combining-finances-with-your-partner
—
Follow Along
– Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/
– Read Money with Katie: https://moneywithkatie.com/
Follow Money with Katie!
– Instagram: https://www.instagram.com/moneywithkatie/
– Twitter: https://twitter.com/moneywithkatie
– TikTok: https://www.tiktok.com/@moneywithkatie
Subscribe to Morning Brew
– Sign up for free today: https://bit.ly/morningbrewyt
Follow The Brew!
– Instagram: https://www.instagram.com/morningbrew/
– Twitter: https://twitter.com/MorningBrew
– TikTok: https://www.tiktok.com/@morningbrew
