Taxes Early Retirement Roth IRA We Answer Your Questions

A couple listeners with more than $2M in investments emailed us with questions about retiring, their 401(k) accounts, and how to beat taxes.

Mike‘s current income puts his family over the 15% marginal tax bracket into the 25% bracket – even after deductions. Should he focus on putting money into their 401(k) accounts to stay in the 15% bracket as long as possible?

David says: A Roth IRA is a better option for young people because they have a longer time to grow the investments, and therefor more growth that is not taxed. Why do people still say max your 401(k) (i.e.: above the company match) first and then invest in a Roth?

Dana and her husband are considering early retirement in 2020. They have 9 rental properties with great equity and their personal residence is paid off, no consumer debt. She gives us her list of assets and asks, “Will we actually be able to retire without running out of money if we spend $120k a year?”

Monica and her husband have more than $2M saved. The current rule-of-thumb says we will need 70-80% of current income per year at retirement. Online calculators suggest we would need $6-$7M of total savings. Will it be enough?

Steve graduated with no debt and has a great income. Due to his current Visa in the U.S., Steve is unsure how long he will be in the country. He asks, “Where do you recommend I put my savings and investing since retirement accounts in this situation do not make sense?”

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Today’s Panelists

Miranda Marquit | Planting Money Seeds
Doug Goldstein | Goldstein on Gelt
Linda P. Jones | Be Wealthy and Smart
Joe Saul-Sehy | Money in the Morning


For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode


About our sponsor, BUZZ Index

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About our sponsor, Health IQ

HealthIQ is a sponsor of the Money Tree Investing Podcast.

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