Radical Personal Finance – Part Two

In part two of the Radical Personal Finance podcast interview (click here for part one), we dive into some very powerful tax-avoidance strategies for future early retirees.

It’s possible to achieve financial independence earlier in life, without having to decrease your spending, increase your income, or assume any additional risk, simply by using tax-advantaged retirement accounts in an intelligent way.

Today’s episode explores the various retirement accounts available and explains the most optimal uses of those accounts for people on the path to financial independence and early retirement.

Listen Now!

  • Listen on iTunes
  • Stream audio file here
  • Download MP3 by right-clicking here

Highlights

Related Post

Retire Even Earlier Without Earning More or Spending Less

Applying some of the optimizations described in previous articles, I show how to retire years earlier without earning more or spending less!


Want to achieve FI sooner?

  1. Sign up for a free Personal Capital account to start tracking your net worth, monthly spending, etc.
  2. Enter those numbers into the FI Laboratory and begin charting your progress to financial independence
  3. Download the spreadsheet I used on my own journey to financial independence to determine which expenses are delaying your progress the most
  4. Reduce or eliminate those expenses and achieve FI even sooner!

12 comments for “Radical Personal Finance – Part Two

  1. October 10, 2013 at 8:35 pm

    This is really good stuff. I appreciate the way you think about and attack these ER considerations with the main point of limiting the bite of taxes. This is something I rarely think about and would do me a lot of good to understand this better. I never knew the tax code could be so beneficial to ER’s. Keep up the good work.

    • The Mad Fientist
      October 10, 2013 at 11:57 pm

      Thanks a lot, Buck.

      Great posts on cFIREsim, by the way. I’m really looking forward to playing around with some scenarios and testing out the various withdrawal strategies!

      • October 11, 2013 at 9:28 am

        Glad to hear you’re getting some benefit from Bo’s retirement simulator. I really think he’s got something special there.

        • The Mad Fientist
          October 11, 2013 at 9:41 am

          I definitely agree!

  2. Nancy
    October 11, 2013 at 10:34 pm

    Can’t seem to listen to the podcasts. Do you need a certain kind of software? I don’t have an mp3 player and I assume my oldish computer doesn’t have that software so maybe that’s the problem? Can you post them some other way?

    • The Mad Fientist
      October 11, 2013 at 11:00 pm

      Hi Nancy, are you able to right click on the link and then download the file to your computer?

      If not, do you have a different browser you can try? You shouldn’t need any special software but it’s possible you’re using an older browser that isn’t supported.

      If you’ve used iTunes before, you can also subscribe to the podcast there and then listen through iTunes.

      Let me know if any of those options work. If not, there are a few more things we can try.

      • Nancy
        October 12, 2013 at 1:09 am

        Found them on iTunes, thanks.

  3. John
    October 27, 2013 at 11:03 pm

    Thanks for sharing this info. I just took two pages of notes! A few things I wasn’t clear on:
    – You said we could withdraw cash from an HSA tax free for any reason… is that any MEDICAL reason or actually ANY reason?
    – Can you with draw that cash at any time? You mentioned that it becomes like a traditional IRA after 65 (or 59.5?), so just to be clear, isn’t then critical to empty the account at 64?
    – I noted a savings in medicare, where exactly do you save on that? Do we not pay medicare from any income if we have an HSA?

  4. John
    October 27, 2013 at 11:21 pm

    Sorry about the list of questions I posted earlier, all of them were answered in “The Ultimate Retirement Account” blog post!

    • The Mad Fientist
      October 27, 2013 at 11:27 pm

      Hey John, I’m glad to hear you got so much out of the podcast episode.

      I’m also glad to hear the Ultimate Retirement Account article answered all of the questions you had!

      If you have any other questions about anything, let me know and I’ll do my best to answer them.

  5. December 22, 2014 at 3:26 pm

    Great podcast! One quick question, if you wife is still working (even part-time), how are you still going to be able to transfer your traditional IRA to a roth without paying income taxes? Thanks!

  6. April 13, 2017 at 2:52 pm

    I am enjoying listening to all of your podcasts. I too opt for the traditional 401k. (403b) in my case. Our combined income is low enough, so we max out our Roth IRA accounts after maxing out our employers plans.

    Also, your conversion plan is also brilliant.

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