Radical Personal Finance – Part Two

Financial Independence Podcast

The Mad Fientist

Taxavoidance, Business, Geographicarbitrage, Investing, Tax, Earlyretirement, Travelhacking, Entrepreneurship, Travel, Personalfinance, Stocks, Minimalism, Realestate, Frugality, Retirement, Financialindependence

4.8 • 1.7K Ratings

🗓️ 10 October 2013

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In part two of the podcast, the Mad Fientist explores some very powerful tax-avoidance strategies for 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.

To read the full article, visit http://www.madfientist.com/radical-personal-finance-part-two/

Transcript

Click on a timestamp to play from that location

0:00.0	Yes, it's the Mad Scientist here. Welcome to Part 2 of my interview for the Radical Personal Finance
0:10.5	Podcast. I missed my podcast intro music in Part 1, so I figured I'd break out the synthesizer for Part 2.
0:17.0	In Part 2 of my interview, we dive into tax advantage retirement accounts. There are many ways that future early retirees can utilize these types of accounts and we discuss many of those ways during this part of the interview.
0:31.0	If you're interested in minimizing your taxes as much as possible
0:35.4	during your working years, then hopefully you're going to get a lot of good information out of this
0:39.5	episode. So enough for me. Enjoy the podcast and thank you again to Joshua for having me on his show.
0:46.0	All right, three strategies that you write articles about and I want to go over these strategies
0:52.0	because I think they're valid things but a lot of times
0:54.8	people don't understand kind of how this can work.
0:58.6	Number one is you talk about traditional IRA versus Roth IRA.
1:03.7	So walk us through your strategy and why you say to start with a traditional IRA and walk
1:09.0	us through your strategy of how to do that and how that works in an early retirement context.
1:15.0	Sure, sure.
1:17.0	Yeah, this is one of the main reasons I started the blog.
1:20.0	I loved the math behind all of this stuff and I didn't see that there was
1:24.4	there's a lot of advice out there but not a lot of it pertains to people that are
1:29.1	pursuing early financial independence. You know most advice is geared towards people that are, you know, working to 65 and
1:35.7	doing the standard thing.
1:37.4	So, so yeah, this is a chance for me to dive into the math from a financial independence perspective.
1:46.2	And yeah, before diving into it, I just want to make the point that, you know, a lot of people focus on trying to you know eke out another
1:55.1	1% over the index and they know spend all their time picking stocks and doing all
2:01.2	this stuff that may help them but in most cases it won't.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Mad Fientist, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Mad Fientist and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.