My mission is to help people achieve financial independence and retire early. My channel contains educational content on your 401(k), Roth IRA, and TSP. If you want to retire early, you have to take control of your finances now!
My financial independence journey began in 2014 when I realized how broke I was. I lived way above my means and was in over my head with $110k in debt. I completed my debt-free journey in 2 years by the age of 30. I discovered the Financial Independence and Retire Early (F.I.R.E.) movement and saved 60-70% of my gross income.
I became a financial coach to help millions of Americans get out of debt, create a budget, and achieve financial freedom. I started my KZread channel in 2021 to share my progress in F.I.R.E. I have a website to offer my financial coaching services, free spreadsheets, and personal finance calculators. I hope you find my experience helpful in starting your F.I.R.E. journey.
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60% C fund and 40% l2040 for me.
Isn’t this how CEOs pay themselves and pay no taxes?
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
So is the 10% taken out immediately before you get the money your trying to pull? or do you get it all and then have to hold onto 10% to give the irs later? Also is it 10% plus regular taxes? State and fed?
Just got to the end of year 3 and hit 70k. Hoping to get there by the end of year 4.
Lord, If I win I am going to buy a house for me and another one for my immediate family. I don't have any other plans with the money.
I was JUST looking at T-Bills the other day lol. I follow “capitoltrades” and a lot of politicians have been buying them up. Figure it’s about time to get some too. Thanks for explaining it!
I withdrew my whole 401k after learning the management was raping my account with fees. Me as a dummy invested better on my own than their “professionals”. Check the fees they charge it’s ridiculous. Turns a 10% average market growth into 3%. Fug umm
Not just a soldier for our country, but a soldier to yourself. Great comeback story man, love to see it!
Question, As far as receipts, will my yearly statement from my health insurance provider for claims, what they paid and what I owed be accepted as a receipt for expenses paid out of pocket in order to reimburse myself down the road? I use my HSA strictly as investment tool until I retire and right or wrong have been making that assumption.
Seriously? I can saved the recipes and withdraw from HSA years later?? That's new to know!!
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Taxes at this point have become thievery. Imo
You’re getting taxed on employer matches as well, and if you leave before you’re fully vested there is no easy way to get those taxes back-to my knowledge, definitely could be wrong and would love to hear if there are systems in place for this scenario
You owe no tax on employer 401(k) match if you leave before you become vested. That match and it's earnings are simply removed from your t-401(k) balance and returned to employer.
12% of US families make more than 200k a year, and this tax doesn't impact 88% of us. Eat the rich!
Literally everyone is about to pay more😭
Dave Rampsy said 100% Yes for Roth 401K!
oh my goodness, your idea is to not use the HSA to pay for medical expense now but pay it out of pocket and let it grow like an Roth IRA. But have you considered that the $27000 you paid today but got it back like 15 years later, the $27000 lost value as well due to inflation. Maybe as well use that after tax money to fund the actual roth ira account or 401K roth or after tax 401k with in plan conversion.
Definitely wanna know more involving Treasury Bonds
I do not think it is considered "fraud" to put more dependents on the W4 withholding form with work. He was not saying he put 9 dependents on his final tax forms when he filed. Just was trying to control his withholding from work. If there was not enoght tax taken out in the year, he may just have additional taxes and potential penalties if there's underpayment at the end of the year. Especially if people have multiple jobs, putting zero dependents on both jobs may result in too much being withheld on taxes and getting a larger refund later.
If he really put 9 dependents on the official tax form, he would have owed less taxes not more.
Craig always struck me as cold.
Thanks man! I've been seeing people say it might be close to a good time to get into tlt. So this video helped me understand that area a little better. Subscribed to ya now 👍
Glad to have you!
Hi. Did u mean to call house poor for people who spend more than 3% of their income for real? Or it should be 30%?