Mile High FI Podcast 3 Buckets of FIRE, Long Term Care, Dating, Mailbag | MHFI 221
Jun 25, 2024
The hosts tackle intriguing questions about financial independence, like how to balance retirement account contributions. They navigate the complexities of long-term care insurance, sharing personal experiences and some skepticism. The dating scene also gets a humorous spin, contrasting traditional interactions with the pitfalls of apps. Plus, they delve into teaching kids financial literacy and the importance of nurturing confidence over strict rules. There's even a tasty tangent about the iconic Hot Brown from Louisville, blending culinary adventures with life lessons.
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Balance Tax Benefits and Flexibility
- Max out your 401(k) first to reduce taxable income effectively.
- Diversify funds across 401(k), Roth IRA, and taxable accounts for flexibility in retirement.
Invest for Flexibility Over Tax
- Prioritize flexibility over perfect tax optimization when investing.
- Use Roth conversions and multiple account types to access funds early if needed.
Skepticism on Long-Term Care Insurance
- Long-term care insurance may not always payout as expected.
- Planning for health fixes might be more pragmatic than relying on insurance alone.
