How Much Can You Spend When You're On FIRE? - 236

Your Money, Your Wealth

EpisodeAug 27, 201948m

How Much Can You Spend When You're On FIRE? - 236

Your Money, Your Wealth

EpisodeAug 27, 201948m

What's a safe withdrawal rate from your investment portfolio when that money has to last 50 or 60 years because you're part of the FIRE (financial independence/retire early) movement? Karsten Jeske, Ph.D., CFA, aka "Big Ern" from EarlyRetirementNow.com shares his experiences. Plus, will listener Paul reach $5M by retirement? Can monthly payments from an IRA annuity be used for qualified charitable distributions (QCDs)? And what happens if you've made mistakes with your IRA that lead to penalties? Transcript, resources & show notes: http://bit.ly/YMYW-236

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Making fun of finance. A "Top 10 Personal Finance Podcast" and "Top 12 Retirement Podcast" (US News & World Report, 2023). One of the "10 Best Personal Finance YouTube Channels" (CardRates, 2023). "Best Retirement Podcast With Humor" (FIPhysician, 2020, 2021, 2022, 2023). Learn strategies that can help you retire successfully. Financial advisor Joe Anderson, CFP® and certified public accountant Big Al Clopine, CPA answer your money questions and spitball on your 401k, IRA, Roth conversions and backdoor Roth IRA, how to pay less taxes, asset allocation, stocks and bonds, real estate, and other investments, Social Security benefits, capital gains tax, 1031 exchange, early retirement, expenses and withdrawals, and more money and w...

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