Working or Retiring Abroad and Early Retirement Spitball - 345

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

🗓️ 28 September 2021

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Retiring overseas and foreign earned income exclusion eligibility, using your tax refund for a back door Roth conversion, and working abroad and contributing to a health savings account (HSA). Plus, should you contribute to Roth, pre-tax accounts, or brokerage for early retirement? Are substantially equal periodic payments (SEPP) good to bridge the gap between retiring early and age 59.5? Is it ever a good time to time the market? Show notes, free resources, Ask Joe & Al On Air: https://bit.ly/ymyw-345

Transcript

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0:00.0	It seems that a number of our new YMIW listeners are working abroad or planning to retire overseas.
0:06.6	Welcome. We're glad you found us. Today on Your Money, Your Weld's podcast number 345,
0:12.0	Joanne Big Al, answer questions on eligibility for the foreign earned income exclusion,
0:17.3	using the tax refund thanks to the foreign earned income exclusion to do a backdoor Roth conversion,
0:22.8	and using health savings accounts or HSAs when working abroad.
0:27.0	Plus, the early retirement spitball analyses in episode 341 were so popular that today the
0:32.8	fellows will spitball some more of them for you.
0:34.9	Are substantially equal periodic payments or
0:38.0	CPPs from your retirement savings a good idea to bridge the gap between retiring early
0:43.6	and age 59 and a half? And finally, is there ever a good time to time the market?
0:49.4	Visit Your Money, Your Wealth.com and click Ask Joe and Al on air to send in your money questions.
0:55.5	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson,
1:00.1	CFP, and Big Al Clopine CPA.
1:03.4	To the YMIW crew, I've recently discovered your podcast and I'm disappointed.
1:09.5	I didn't find it earlier.
1:12.7	I thought I was going to be. I recently discovered your podcast and I'm disappointed. I didn't find it earlier. I thought I was going to be recently discovered your podcast and I'm very disappointed. One star. And that's why I'm writing.
1:18.6	Because you guys, you need to get off the air. Very disappointed. I'm 41 married with the newborn son.
1:30.9	All right. We currently live overseas as American expats and I work for an American company. I'm expecting to qualify for the foreign earned
1:37.7	income exclusion again for year 2021. I estimate that my gross income for 2021 will be about $245,000 putting me in the 24% tax bracket.
1:50.5	Last year I received a tax refund of about $15,000 due mostly to the foreign income exclusion.
1:56.3	I would like to do something productive with that overpayment since we really don't need the
2:03.0	refund. I have about $190,000 in an IRA that I would like to start converting to Roth.
	...

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