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Money Guy Show
Should I Sell My Assets to Pay Off Credit Card Debt?
Jul 1, 2024
The podcast discusses strategies for managing credit card debt with available assets, including balance transfers and mindful spending. It also touches on retirement planning without owning a home and navigating charitable giving early in financial independence. Tips on cutting expenses and selling assets to pay off debt quickly are also provided.
24:20
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Quick takeaways
- Consider Roth assets for tax-free access in retirement using LIFO approach over FIFO.
- Prioritize high-interest debt payoff and avoid reliance on balance transfers for financial stability.
Deep dives
Approaching Retirement Bucket Strategies
In the podcast, a listener asks about using Roth contributions to bridge a pre-retirement gap. The hosts highlight the concept of Last In, First Out (LIFO) over First In, First Out (FIFO) when de-accumulating in retirement. They discuss unique models allowing tapping into Roth assets for tax-free access, emphasizing the value of tax-free growth.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode