How Much Can You Spend When You're On FIRE? - 236

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 27 August 2019

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

What’s a safe withdrawal rate from your investment portfolio when that money has to last 50 or 60 years because you’re part of the FIRE (financial independence/retire early) movement? Karsten Jeske, Ph.D., CFA, aka "Big Ern" from EarlyRetirementNow.com shares his experiences. Plus, will listener Paul reach $5M by retirement? Can monthly payments from an IRA annuity be used for qualified charitable distributions (QCDs)? And what happens if you’ve made mistakes with your IRA that lead to penalties? Transcript, resources & show notes: http://bit.ly/YMYW-236

Transcript

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0:00.0	So you've heard all about the fire movement or financial independence retire early,
0:03.7	and you're chomping at the bit to get out of the rat race as soon as possible.
0:07.6	But hang on just a second.
0:08.8	What's a safe withdrawal rate from your investment portfolio when that money has to last 50 or 60 years?
0:14.8	Is the 4% rule going to be good enough for you in retirement?
0:17.8	Today on your money, your wealth, Karstyn Yveska, Ph.D. CFA, aka Big Earn, from
0:23.0	Early Retirement Now.com, shares his experiences. Plus, Joe and Bigel answer your emails and money
0:28.9	questions from the YMIW podcast survey that closed last week. Will listener Paul reach $5 million by
0:35.6	retirement, and will he do it and afford tourists?
0:38.5	Can monthly payments from an IRA annuity be used for qualified charitable distributions or QCDs?
0:44.4	And what happens if you've made mistakes with your IRA that lead to penalties?
0:48.8	I'm producer Andy Last, and here with our guest, Karsten Bigger Anyeska, are the hosts of Your Money, Your Wealth,
0:54.8	Joe Anderson, CFP, and Big Al-Clopline CPA.
0:59.0	Karsten, Yaska.
1:00.8	Yes, is it Yiska or Yeske?
1:02.7	Yeske.
1:03.5	Kirsten, help us out here.
1:05.1	Karsten, Yeska.
1:06.2	Yeska.
1:06.5	Yes, yeah, I tell them.
1:07.9	But I've heard everything. I've heard everything from Jessica to Jetsky.
1:11.6	Jetsky.
	...

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