Using SCPP 72T, you are legally obligated to take the same amount out of your IRA every year. It also helps people early in retirement kind of regulate their spending and get used to spending that's the same with the threat of all these penalties hanging over them. A Roth conversion ladder is going to come with major tax penalties because it uses $600,000 from taxable brokerage accounts. That was episode 94, which we deemed the early retirement episode.
#448: An anonymous caller is dealing with guilt over spending a large cash gift. What’s the best use if she doesn’t have an obvious financial goal to throw at it?
Eric reached financial independence a few years ago but he hesitates to quit his job. What the heck is a Roth conversion ladder and how can he overcome his psychological barriers?
Another anonymous caller and his wife earn $300,000. He feels like they should be financially independent but they’re far from it. What’s going on?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
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For more information, visit the show notes at https://affordanything.com/episode448
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