4.8 • 5K Ratings
🗓️ 5 February 2024
⏱️ 62 minutes
🧾️ Download transcript
In this episode: taxable accounts, the 72(T), inherited retirement accounts, 457B's, roth conversion ladders, and the rule of 55.
This week we are joined by the “FI Tax Guy” Sean Mullaney to walk through examples and discuss some strategies you could use when accessing your retirement funds early. No matter where you are on your FI journey, there can come a time where retiring early becomes a feasible option, but there can be many stipulations and tax implications that come with withdrawing your funds before the age of retirement. Tune in as we discuss several different options you can pursue in order access your money without having to wait until the 59 and a half year old threshold.
The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Brad and the ChooseFI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.
Sean Mullaney:
FIRE in Vegas:
Timestamps:
Resources Mentioned In Today’s Episode:
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0:00.0 | I wanted to drop in before the episode starts to tell you about something fun I'm putting together with Alan and Katie Don again. |
0:05.6 | So Alan came to me last week and said wouldn't be amazing to do something awesome together. |
0:10.7 | I was obviously pretty intrigued so he told me he always wanted to put on a FIE event in the least five place possible. |
0:18.0 | Vegas. So naturally I was in and the three of us had to planning and we actually enlisted the help of our great friend Marla, who you might remember from her travel rewards expertise, way back in episode 77, and we put together a weekend event we're |
0:35.2 | calling choose a five Vegas design your extraordinary life it's going to be |
0:40.6 | primarily April 6 and 7th with a get-together plan for the night before April 5th and |
0:46.7 | we're capping this at 80 people because that's actually the capacity on the room that we found and since our only |
0:52.3 | goal was to do something awesome we're just |
0:54.7 | taking the cost for the room and some of the food were including and dividing it by |
0:58.9 | 80 and that's where we're charging so this is a zero profit thing for sure. I expect the tickets to go pretty |
1:04.8 | fast and we really hope you'll join us. I put a link in the show notes or head to |
1:09.8 | choose at F.com slashcom slash Vegas 2024. |
1:15.5 | So head to Choose Avi.com slash Vegas 24 |
1:18.4 | and check out all the details. |
1:21.6 | Hello and welcome to Choose If I |
1:23.0 | today on the show I have my good friend Sean Malaney the F I |
1:26.3 | tax guy here to join me to go through all the ways that we can access our |
1:30.2 | retirement funds and really how we can bridge the gap between an early retirement |
1:35.4 | and let's say 59 and a half which is the age where we can access our retirement funds |
1:41.3 | without a penalty. |
1:42.8 | So there are a handful of ways |
1:44.3 | and we're gonna really dive into each and every one of these. |
... |
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