Skip to main content

Access Retirement Accounts Early | Roth IRA Conversion Ladder No Tax or Penalty | FIRE Movement


In this video I go over my plan to access retirement accounts early in FIRE. The plan to access these accounts tax free and also pay no penalty. The trick is to have a low ordinary income (earned) income. If you're single, you want to keep your ordinary income below $12,400. Ideally you would want to allow for as much conversion as you can without going over the standard deduction. If you're married, then it's double that at $24,800. You convert this amount and pop it into a brokerage retirement account at Vanguard, Schwab, Fidelity.  Invest the capital in the account in your favorite investment and let it sit there for 5 years. Do this each year building up a chunk converted. Each chunk converted will need to meet the 5 year holding period before it can be pulled out tax free, penalty free before 59 1/2. In most cases, you would want to draw down the traditional retirement accounts to ZERO if you can before the RMD (Required minimum distributions) kick in. The IRS will force you to take cash out at a certain age and that could require you to pay tax on it if it's coming out of a traditional retirement account. So, keep that in mind. If you have any questions, please feel free to contact me. Please LIKE, COMMENT, and SUBSCRIBE if you enjoy this channel content. It helps tremendously! Also, please SHARE this video with your friends and/or family members. That would be much appreciated. Thank you for watching! Books that I recommend: Rich Dad Poor Dad: Education Of A Value Investor: Production Equipment: Drone: Main Camera: Web Camera: Lav Microphone: Backup Lav Mic: USB Microphone: Audio Recorder: Tripod: Main Lighting: Travel Lighting: // S U B S C R I B E Subscribe ➡️ // F O L L O W Instagram ➡️ Twitter ➡️ Facebook ➡️ Website ➡️ // C O N T A C T Email ➡️ dave@hiddenfreedom.com DISCLAIMER: Hidden Freedom, including but not limited to any guests appearing in Hidden Freedom videos, are not financial/investment advisors, brokers, or dealers. They are solely sharing their personal experience and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing, and Hidden Freedom's results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For investment advice please seek the counsel of a financial/investment advisor(s); and conduct your own due diligence and/or research. AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinions and comparisons. #RetireEarly #FIREMovement #FinancialIndependenceRetireEarly...(read more)


LEARN MORE ABOUT: IRA Accounts
CONVERT IRA TO GOLD: Gold IRA Account
CONVERT IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
https://inflationprotection.org/access-retirement-accounts-early-roth-ira-conversion-ladder-no-tax-or-penalty-fire-movement/?feed_id=65808&_unique_id=63d7bb02e4fe7 #Inflation #Retirement #GoldIRA #Wealth #Investing #backdoorrothiraconversion #EarlyRetirement #financialfreedom #FinancialFreedomandEarlyRetirement #FinancialIndependence #FIREmovement #howtoaccessretirementfundsearly #HowtodoaRothConversion #HowtodoaRothIRAConversion #IRAEarlyWithdrawalexceptions #rothiraconversionladder #RothIRAConversionLadderforEarlyRetirement #RothIRAConversionrules #RothIRAearlyRetirement #RothIRAFIRE #Solo401k #WithdrawalRetirementfundswithoutpenalty #BackdoorRothIRA #backdoorrothiraconversion #EarlyRetirement #financialfreedom #FinancialFreedomandEarlyRetirement #FinancialIndependence #FIREmovement #howtoaccessretirementfundsearly #HowtodoaRothConversion #HowtodoaRothIRAConversion #IRAEarlyWithdrawalexceptions #rothiraconversionladder #RothIRAConversionLadderforEarlyRetirement #RothIRAConversionrules #RothIRAearlyRetirement #RothIRAFIRE #Solo401k #WithdrawalRetirementfundswithoutpenalty
Labels:

Comments

Post a Comment

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their
Post a Comment
Read more

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'
Post a Comment
Read more