This week, I mentioned on a Facebook post that Traditional retirements accounts are often a great choice even though most people recommend Roth. The person I was speaking to asked me to follow up with why Traditional could be better. Today's Social Media Saturday is my answer to … [Read more...] about Traditional vs Roth: Social Media Saturday
Tax-Advantaged
Should You Skip TSP and IRA? A Collaboration With MilitaryMilesAndFinance.com
Hey everybody - James at MilitaryMilesAndFinance.com asked me to review his thoughts on whether military members who are aiming for financial independence/early retirement (FIRE) should actually forgo tax-advantaged accounts and focus on investing in taxable accounts. After … [Read more...] about Should You Skip TSP and IRA? A Collaboration With MilitaryMilesAndFinance.com
Your Roth IRA Contributions Belong To You
When you talk about retiring early, you get a lot of questions about how you are going to fund it. If you answer that you are putting money into retirement accounts, the next question is inevitably about paying penalties. The “common wisdom” is that you won’t be able to take your … [Read more...] about Your Roth IRA Contributions Belong To You
The Thrift Savings Plan
Thrift Savings Plan Basics The Thrift Savings Plan, or TSP, is a retirement savings plan for current and retired employees of the federal government. It is the federal government equivalent of a 401(k) plan, and follows basically all of the same rules. Like a 401(k), the TSP … [Read more...] about The Thrift Savings Plan
The 72(t) Rule or How to Withdraw Retirement Funds Early Without Paying Penalties
Anybody that talks to me about personal finance or retirement for more than about 10 minutes knows I plan to retire early. How early is to be determined, but I know I don’t want to still be working for pay when I’m 65. There are a few reasons for that, which I will reveal at a … [Read more...] about The 72(t) Rule or How to Withdraw Retirement Funds Early Without Paying Penalties