In this episode: taxable accounts, the 72(T), inherited retirement accounts, 457B's, roth conversion ladders, and the rule of 55. This week we are joined by the “FI Tax Guy” Sean Mullaney to walk through examples and discuss some strategies you could use when accessing your retirement funds early. No matter where you are on your FI journey, there can come a time where retiring early becomes a feasible option, but there can be many stipulations and tax implications that come with withdrawing your funds before the age of retirement. Tune in as we discuss several different options you can pursue in order access your money without having to wait until the 59 and a half year old threshold. The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Brad and the ChooseFI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services. Sean Mullaney: <ul> <li>Website: <a href="https://fitaxguy.com/" target= "_blank" rel="noreferrer noopener">fitaxguy.com</a></li> <li>Website: <a href="https://www.mullaneyfinancial.com/" target="_blank" rel="noreferrer noopener">Mullaney Financial and Tax</a></li> <li>Twitter: <a href="https://twitter.com/SeanMoneyandTax" target="_blank" rel="noreferrer noopener">@SeanMoneyandTax</a></li> <li>YouTube: <a href= "https://www.youtube.com/@SeanMullaneyVideos" target="_blank" rel= "noreferrer noopener">@SeanMullaneyVideos</a></li> </ul> FIRE in Vegas: <ul> <li>Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for <a href= "https://mailchi.mp/therebelschool/vegas-2024" target="_blank" rel= "noreferrer noopener">a weekend of inspiration, education and fun in Sin City.</a></li> </ul> Timestamps: <ul> <li>0:47 - Introduction</li> <li>3:39 - Taxable Accounts</li> <li>19:03 - Inherited Retirement Accounts</li> <li>25:30 - The Rule of 55</li> <li>28:39 - 457B's</li> <li>30:46 - Roth IRA Conversion Ladder</li> <li>39:12 - The 72(T)</li> <li>54:52 - Paying the Penalty</li> <li>57:25 - Conclusion</li> </ul> Resources Mentioned In Today’s Episode: <ul> <li><a href= "https://www.choosefi.com/mailbag-inflation-and-fi-aca-subsidies-roth-vs-trad-and-more-cody-garrett-ep-471/" target="_blank" rel="noreferrer noopener">Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett | ChooseFI Ep 471</a></li> <li><a href="https://www.choosefi.com/roth-ira-conversion-ladder/" target="_blank" rel="noreferrer noopener">The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R</a></li> <li><a href= "https://www.choosefi.com/roth-ira-conversion-ladder-case-study/" target="_blank" rel="noreferrer noopener">Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R</a></li> <li><a href="https://fitaxguy.com/retire-on-72t-payments/" target= "_blank" rel="noreferrer noopener">Retire On 72(T) Payments</a></li> <li><a href= "https://www.youtube.com/watch?v=q924qzkgJIk&ab_channel=SeanMullaney" target="_blank" rel="noreferrer noopener">72(t) Payments in Google Sheets</a></li> <li><a href="https://www.choosefi.com/read/newsletter/">Subscribe to The FI Weekly!</a></li> </ul> More Helpful Links and FI Resources: <ul> <li><a href= "https://www.choosefi.com/top-recommended-travel-cards/" data-type= "post" data-id="153934">Top 10 Recommended Travel Rewards Credit Cards</a></li> <li><a href="https://www.choosefi.com/pc" target="_blank" rel= "noreferrer noopener nofollow" data-type="link" data-id= "https://www.choosefi.com/pc">Empower: Free Dashboard to Track Your Finances</a></li> <li><a href="https://www.choosefi.com/CIT_PS" target="_blank" rel= "noreferrer noopener nofollow" data-type="link" data-id= "https://www.choosefi.com/CIT_PS">CIT Bank Platinum Savings Account</a></li> <li><a href="https://www.choosefi.com/M1signup" target="_blank" rel="noreferrer noopener nofollow">M1 Finance: Commission-Free Investing, 1-click rebalancing</a></li> <li><a href="https://my.cashfreely.net/share?bref=cfw" target= "_blank" rel="noreferrer noopener nofollow" data-type="link" data-id="https://my.cashfreely.net/share?bref=cfw">CashFreely: Maximize Your Cash Back Rewards</a></li> <li><a href="https://my.travelfreely.net/share?bref=cfw" target= "_blank" rel="noreferrer noopener nofollow" data-type="link" data-id="https://my.travelfreely.net/share?bref=cfw">Travel Freely: Track all your rewards cards and points</a></li> <li><a href="https://www.choosefi.com/legacybinder-blog" target= "_blank" rel="noreferrer noopener nofollow" data-type="post" data-id="8053">Emergency Binder: For Your Family’s Essential Info</a> (code ‘CHOOSEFI’ for 20% off)</li> <li><a href="https://www.studentloanplanner.com/choosefi/" target= "_blank" rel="noreferrer noopener nofollow" data-type="link" data-id="https://www.studentloanplanner.com/choosefi/">Student Loan Planner: Custom Consult</a> (with $100 Discount)</li> </ul>

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475 | How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney

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