457 | Mailbag: Cover Your Expenses | Rachael Camp

ChooseFI

English - October 02, 2023 05:00 - 1 hour - 101 MB - ★★★★★ - 4.8K ratings
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Previous Episode: 456 | Taking a Step to FI | September Roundup with Ginger

Next Episode: 458 | A Healthy State of Panic | Farnoosh Torabi

In this episode: the 4% rule, second generation FI, retirement saving, 529's, 401k's, and is it too late for FI?

This week we joined by Rachael Camp of Camp Wealth for another installment of Mail Bag, where we will be answering some questions sent in by our listeners. Together, we cover topics surrounding the 4 percent rule, starting the FI journey “late”, the importance of tax diversity in your retirement accounts, and the potential benefits and drawbacks to 529 plans. On the path to FI, the community this journey brings can be the best resource, and answering any questions you may have is our way to ensure you’re well on your way to FI, as well as help others in the community who may be navigating similar scenarios!

Rachael Camp:

Website: rachaelcampwealth.com Twitter: @camp_wealth

Timestamps:

1:09 - Introduction 3:22 - Can It Be Too Late For FI?/Credit Card Debt 18:25 - The 4% Rule And Early Retirement 27:02 - Withdrawing Earnings 40:06 - Not Maxing Out Your 401k? 50:03 - 529's and Financial Aid 57:04 - Second Generation FI 72:10 - Conclusion

Resources Mentioned In Today’s Episode:

Subscribe to The FI Weekly! The Safe Withdrawal Rate Series "Die With Zero: Getting All You Can from Your Money and Your Life" By Bill Perkins FICalc How and Why to Set up a Roth IRA Conversion Ladder

Twitter Mentions

@camp_wealth