ChooseFI

447 | Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney

Jul 24, 2023

57:56

Creator website

Episode guests

Sean Mullaney

Highlights

AI Chapters

Episode notes

How to Start an Investing Account for Your Kids

01:17

How to ACAT an Inherited Retirement Account

00:54

Firing your Advisor with ACAT

00:35

Example: 5 year rule on Roth IRA

01:40

Introduction

2min

How to Break Up With Your Financial Advisor and Transfer Existing Investments to Low Fee Index Funds

4min

How to Set Up an IRA Direct Trustees to Trustees Transfer

4min

How to Break Up With Your Financial Advisor

2min

How to Manage Capital Gains When Moving a Stock

2min

The Emotional Part of the ACAT Process

3min

How to Mitigate the Tax Implications of Appreciated Stock and Taxable Brokerage Accounts

5min

How to Donate Appreciated Stock to a Charity

1min

How to Invest in High Interest I Bonds

4min

10.

How to Sell Series I Savings Bonds

3min

11.

The 4% Rule for Financial Independence

3min

12.

The 4% Rule for the 5 Community

3min

13.

How to Start an Investing Account for Your Kids

3min

14.

How to Teach Your Kids About Finances

3min

15.

How to Make Your Kid a Millionaire Roth IRA for Kids

2min

16.

The Importance of Roth IRA Conversions

3min

17.

How to Pay Expenses When You Know You Can Afford to Pay Them

2min

18.

The Five Year Clock and the Five Year Rule

3min

19.

The Importance of Regular Annual Contributions

3min

20.

The Roth IRA Conversion Ladder

3min

21.

How to Join a Local Community on Chooseify

3min

In this episode: financial advisor breakups, I bonds, the 4% rule, second generation FI, Roth IRAs, and the listener mailbag.

Breakups are hard, but breaking up with financial advisor can be harder given the minutia that is often involved in doing so. It's good to have friends to lean on in times like this, which is exactly why we have the FI Tax Guy himself Sean Mullaney with us to help! Listen along as he and Brad dip back into the listener mailbag this week and discuss a plethora of topics submitted by YOU the listener!

Sean Mullaney:

Website: fitaxguy.com
Sean's Roth IRA Blog Post: How I Learned To Stop Worrying About The Roth IRA 5 Year Rules

Timestamps:

0:43 - Introduction/Breaking Up With Your Financial Advisor
15:13 - The Taxable Nature of Financial Breakups
22:11 - I Bonds
29:12 - The 4% Rule and Age
35:40 - Second Generation FI and Accounts
43:48 - Early Roth IRA Conversions
48:18 - Roth IRA's and 5 Year Rules
57:24 - Conclusion

Resources Mentioned In Today’s Episode:

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