Deep Dive: Set Yourself Up to Pay No Penalties or Taxes in Early Retirement
The Money with Katie Show
00:00
How to Increase Your Wealth - A Case Study
Couple started with one million dollars, and it was subjected to 83 thousand dollars of withdrawals each year. By age 60, we have three point two million dollars. Compounding is magic. They were living large compared to their working years when they were spending 72 k. Had they cut their spending even a little bit like, for example, let's say they only withdrew 83K in years one through five, and then only bumped things up to 90k in years six through 15, they would not have depleted the taxible account out of money.
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