In this episode, I am doing a deep dive to unveil all of the personal finance secrets that FIRE (Financial Independence, Retire Early) people know about. I am going to tell you about all of the crazy secrets FIRE people use to do everything from career pivots and retiring early to retiring their kids for cents on the dollar. Along the way, you'll learn a bit about why FIRE is awesome and the various ways in which you can use many of these FIRE secrets to benefit your life!

Guide:

Intro/How The Heck Are People Retiring Early?

Saving in the Right Places:

• ​Tax-advantaged accounts (401ks, IRAs, HSAs, taxable brokerage, DCP, etc.) are key
• ​Legal Loopholes: Backdoor Roth IRA, Mega Backdoor Roth, Investing HSA for Decades, Saving HSA Receipts
• ​Strategy (keep it simple, automate investing, save early, save as much as you can comfortably manage, rinse and repeat)

Helpful Illustrations:

• ​Savings rates translated into years to retirement
• ​4% Rule
• ​Compounding Interest for a 50 yr old vs. 30 yr old
• ​CoastFIRE Meaning and other steps along the FIRE journey (sabbatical, career break, career pivot, house, etc.)
• ​How to Estimate Annual Retirement Spend

How to Access Money in Retirement Accounts Before 59.5

Legal Loopholes: Roth IRA Contributions, Roth IRA Conversion Ladder, 72T, Rule of 55

Taxes in Early Retirement: How They Are So Low

Legal Loopholes: Standard Deduction, Long Term Capital Gains, Roth Accounts, etc.

How to Navigate Income Levels for Healthcare in Retirement

Legal Loopholes: Pulling from Roths & Taxable Brokerage

Bonus Legal Loopholes: Hacking FAFSA, Avoiding IRMAA, Avoiding RMDs, Travel Hacking, Retiring Your Kids!

Media:

How to Earn/Save /Spend Money Strategically: https://open.spotify.com/episode/6TtUitezFhhmiqfBNDOWij?si=EoXDWsNHT8uIsApcbaHLLw

Tyler Gardner on Retiring Your Kids: https://open.spotify.com/episode/68hR3hpj9LwMxsVuKnpqGs?si=oNbxO8oFQwKHcVjVGwPtPQ

Money Feels on Screen Time: https://open.spotify.com/episode/0Z4QoRBGms24RQM8ye1kbP?si=Q45e3rL1Th2ZHp8iI_bQMg