Ask Paula: Early Retirement and The Four Percent Rule

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 8 July 2019

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

#203: Many people in their 50’s or 60’s warn us about catastrophic or ‘black swan’ events. But what’s the likelihood that this will actually happen? How can you use the 4 percent withdrawal rule for early retirement planning, given that your portfolio will be split among accounts with different tax treatments? How do you adjust your retirement plan for future taxes? Should a couple in their 30’s switch from term life to whole life insurance? Should a couple in their 50’s with adult children bother buying life insurance in the first place? Is it okay to keep all your assets at one investment brokerage, like Vanguard or Fidelity? And can you deduct rental losses if your income is over $150,000? Former financial planner Joe Saul-Sehy and I answer these questions in today’s episode. For more information, visit the show notes at https://affordanything.com/episode203 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything but not everything.
0:10.6	Every decision that you make is a trade-off against something else and that doesn't just
0:13.9	apply to your money.
0:14.9	It applies to your time, to your focus, to your energy, your attention, any resource in
0:19.7	your life that is scarce or limited.
0:21.9	And that leads to two questions.
0:23.2	Number one, what's most important to you?
0:25.8	Not what does society say ought to be.
0:27.9	But what actually matters most in your life?
0:30.7	And number two, how do you manage your day-to-day actions?
0:35.2	Accordingly, how do you manage your resources in the context of those daily decisions?
0:40.1	Answering these two questions is a lifetime practice and that's what this podcast is here
0:43.2	to explore.
0:44.2	My name is Paula Pant.
0:45.2	I'm the host of the Affordable Care Foundation.
0:46.2	I'm the host of the Affordable Care Foundation.
0:47.2	Every other week I answer questions that come from you, the community.
0:50.8	And this week, former financial planner Joe Solcihi is here to help me answer those questions.
0:56.1	What's up, Joe?
0:57.1	Paula, I'm so excited.
0:58.4	We've got some good questions this week.
1:00.5	We have excellent questions.
	...

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