Deep Dive: Set Yourself Up to Pay No Penalties or Taxes in Early Retirement
b'If you\\u2019re normally a \\u201ccasual commute\\u201d listener of The Money with Katie Show, prepare to park your car and whip out your notebook\\u2014today\\u2019s episode is a complex deep dive into exactly how you can set yourself up to pay no taxes or penalties in retirement on any of your pre-tax, taxable, and Roth funds, even if you retire in your thirties.\\nWe\\u2019ll dig into how much a couple would need to save and invest to retire early and then break down how they can strategically access those funds for the most optimal tax-free outcomes. Remember to caffeinate before this one\\u2014your brain cells are about to be workin\\u2019 and twerkin\\u2019.\\nIf you\\u2019re a visual learner, the YouTube video for this episode or the episode transcription may be your best friends.\\n\\u2014\\nMentioned in the Episode\\n\\nIRS Tax Code: https://www.irs.gov/privacy-disclosure/tax-code-regulations-and-official-guidance\\n\\n\\nStandard deduction for 2022: https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022\\n\\n\\n0% capital gains tax rate brackets for 2022: https://www.kiplinger.com/taxes/capital-gains-tax/602224/capital-gains-tax-rates\\n\\n\\nRequired Minimum Distributions (RMDs): https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds\\n\\n\\nRoth IRA Five-Year Rule: https://www.investopedia.com/ask/answers/05/waitingperiodroth.asp\\n\\n\\nCompound interest calculator: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator\\n\\n\\nCombining finances for marriage: https://moneywithkatie.com/blog/what-to-consider-when-combining-finances-with-your-partner\\n\\n\\n\\u2014\\n\\ufeffFollow Along\\n- Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/\\n- Read Money with Katie: https://moneywithkatie.com/\\n\\nFollow Money with Katie!\\n- Instagram: https://www.instagram.com/moneywithkatie/\\n- Twitter: https://twitter.com/moneywithkatie\\n- TikTok: https://www.tiktok.com/@moneywithkatie\\n\\xa0\\nSubscribe to Morning Brew\\n- Sign up for free today: https://bit.ly/morningbrewyt\\n\\nFollow The Brew!\\n- Instagram: https://www.instagram.com/morningbrew/\\n- Twitter: https://twitter.com/MorningBrew\\n- TikTok: https://www.tiktok.com/@morningbrew\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'