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)

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