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BiggerPockets Money Podcast

18: Accessing Retirement Funds Before Age 59½ with The Mad Fientist

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.53K Ratings

🗓️ 30 April 2018

⏱️ 99 minutes

🧾️ Download transcript

Summary

Early retirement is a goal many people have. Diligently saving for retirement age to fund your life after you stop working is great, but the same programs that help you avoid taxes while saving come back and hit you with taxes AND penalties if you... Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to Bigger Pocket's Money, show number 18.

0:04.0

Early retirees are so different than standard retirees when it comes to taxes especially.

0:11.0

Because if you think about it, like most people have income that just

0:14.3

gradually increases their entire career and then all of a sudden they're 65 and their

0:19.8

income drops and their spending hopefully maybe drops a little bit. But for early retirees we have this, you know, period of high income that's maybe 10 years, 20 years, whatever your career happens to be, and then you have a big drop in income and potentially

0:38.1

low expenses and low income for maybe 20 years before you even hit standard retirement age.

0:44.0

So I realized that all the standard advice about retirement accounts

0:48.8

really didn't apply to people who are pursuing financial independence or early retirement.

0:54.4

So that's where I started looking into first.

0:56.2

So...

0:57.2

It's time for a new American dream, one that doesn't involve working in a cubicle for 40 years,

1:01.8

barely scraping by.

1:03.2

Whether you're looking to get your financial house in order,

1:05.4

invest the money you already have,

1:06.7

or discover new paths for wealth creation,

1:09.6

you're in the right place.

1:11.4

This show is for anyone who has money or wants more. This is the

1:15.0

bigger pockets money podcast. How's it going everybody? I'm Scott Trench and I'm here with

1:19.2

my co-host, Miss Mindy Jensen. How are you doing today, Mindy?

1:21.8

Scott, I am doing really great and I am so excited for today's show.

1:26.0

As you know, I booked the guests for both the BiggerPockets Podcasts where we talk about real estate investing

1:31.0

and this BiggerPockets Money podcast where we talk about money.

...

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