Topics: Matthew is married, age 36, wants to retire early, and asks how to fund early retirement before age 59 1/2. Scott explains how to pay the bills while waiting to withdraw from a 401(k), including how to take money out of tax-deferred retirement accounts before age 59 1/2 penalty free.
- Can buying a boat give your family financial protection if you get hit by an asteroid?
- Steve asks about budgeting and the leading tools.
- Confirmation that you can withdraw contributions (your basis) from a Roth IRA at any age tax and penalty free.
- Lore (Columbus, OH) needs help with asset allocation and picking the right stuff in their available investments.
- Rita (Portugal) has a mortgage with 9% interest and is deciding if she should invest or not.
- Elaine says she can’t afford to invest because she doesn’t want to lose money. She can't afford not to.
- Walter is age 43, wants to retire at age 55 and asks which index funds I recommend.
- What do you do with your raises and bonuses?
- Quote of the day from Jimi Hendrix.
Links mentioned on the show:
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IRS Form 8606, Distributions from IRAs
Retire early and avoid 401(k) penalties