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559: How I Retired in My Mid-30s While Working Just 4 Hours a Week

BiggerPockets Money Podcast

NOTE

Transform Personal Expenses into Business Deductions

Creating a hobby business upon retirement can significantly reduce personal expenses by converting them into business expenses, thereby lowering taxable income. This strategy not only covers health insurance costs through the business but also leverages deductions for other expenditures like technology and travel. Roth conversions can further manage taxable income levels, ensuring they remain optimal to avoid penalties while benefiting from health insurance subsidies. The tactic serves to minimize tax liability and maximize available financial resources.

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