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 of 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 and help others in the community who may be navigating similar scenarios!
Rachael Camp:
- Website: rachaelcampwealth.com
- Twitter: @camp_wealth
Please note:
Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.
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!
- Shockingly Simple Math Behind Early Retirement
- CIT Bank review and current interest rates
- 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
- Make Your Kid a Millionaire: Roth IRA for Kids
