The Tax Planning Window There’s a window after you retire but before Social Security and RMDs kick in where your tax flexibility is at its peak. Here’s how physicians waste it, and how to use it. Your accountant will tell […]

Most retirees spend decades preparing for retirement taxes, but many never spend much time thinking about what happens to those taxes after they are gone. Early in retirement, the focus is usually on generating sustainable income and keeping taxes manageable each year. But for households likely to leave assets behind, the planning process eventually starts to shift.   As the focus moves towards leaving a legacy for your loved ones, tax planning becomes more about […]

Choosing a financial planner isn’t just another decision on your list. It’s a relationship that can shape how you make financial decisions for years—sometimes decades—to come. The right fit can help you feel more clear, more confident, and more intentional with your money.  The wrong fit doesn’t always fail dramatically—but it can quietly lead to second-guessing, missed opportunities, or advice that never quite feels aligned. So if you’re at the point of choosing someone, it makes sense to […]

Summer travel costs can rise fast once hotel rates, restaurant meals, gas, and attraction tickets start piling up. Many families want a break without coming home to a credit card bill that feels like a second vacation. The good news is that affordable summer travel still exists if you plan carefully and focus on simple … Read more

Hey everyone! I hope you’re enjoying the beautiful spring weather. It’s been a while since I posted an update. To be completely honest, blogging became much more difficult once I stopped posting every single week. There are always so many things to do around the house, and writing is much harder when I don’t stick to a strict schedule. Anyway, I promised to update my withdrawal plan, so here it is. This plan isn’t set in stone. We’ll constantly modify it to minimize taxes and respond to unforeseen circumstances. We will likely withdraw more in some years to cover “lumpy” expenses, like buying a new car. Life is full of surprises, and we’ll have to adapt as needed. Our early retirement withdrawal plan is flexible. Right now, we have almost $1 million combined in our taxable brokerage account and Treasury bonds. However, we also have changing family circumstances to navigate. Our parents are getting older and need more assistance. Because of this, we plan to move to California to be closer to Mrs. RB40’s family when our son finishes high school in 2029. As you’ll see below, this move is a massive factor in our financial timeline. (For context, I am 52.5 years old right now.) The Timeline: 2026 to 2049+ 2026 to 2028: The Early Years & Simplifying Real Estate 2026 is our first year of full retirement. Our active income will be minimal—probably around $5,000 from blogging and minor side gigs. Fortunately, Mrs. RB40 has a small pension of about $10,000 annually. More importantly, her retirement plan includes group health insurance coverage. We pay the same premium amount as we did when she was working, and it’s deducted directly from her pension. This is huge. Not having to worry about the ACA marketplace or healthcare costs gives us a lot of breathing room. Estimated Annual Expenses: ~$75,000 Active Income + Pension: ~$15,000 Passive Income (Dividends/Interest): ~$20,000 The Gap: We need to cover a shortfall of about $40,000. The Solution: Since we are moving to California in a few years, I am winding down our Portland rental real estate. We recently put our rental condo on the market. Once sold, it should generate roughly $150,000 after fees and taxes. This cash pool, combined with our other income streams, will fund the next 2 to 3 years of living expenses. Our Housing Adjustments: Currently, we live in a duplex and rent out the upstairs unit. However, I’ve asked our tenant to move out in 2027. RB40Jr is a teenager now and needs more space. One bathroom doesn’t cut it anymore. Mrs. RB40 also wants more room since she is home full-time. We will use the next few years to live comfortably in the whole property while fixing it up to get it ready for sale. It’s a big win that we resisted upsizing for 15 years. Most families expand their housing when they have kids. Note on a lumpy expense: I may purchase a new car

Most estate planning conversations begin with questions about transferring wealth efficiently. Families want to know who inherits retirement accounts, whether a trust is necessary, how to avoid probate, and whether estate taxes will become a problem. Those are all legitimate concerns, but they are rarely what causes the greatest stress when a crisis actually unfolds.  The breakdowns that destabilize families are usually operational. A surviving spouse suddenly cannot access accounts. Bills stop getting paid because everything […]

Looking to revitalize your hair without breaking the bank? DIY hair oils are a fantastic way to nourish your locks naturally, and the best part is, you can whip them up at home with budget-friendly ingredients! In this guide, we’ve rounded up 10 easy and effective recipes that cater to various hair types, so you can customize your own blend and enjoy salon-quality results right in your kitchen. ezstandalone.cmd.push(function () { ezstandalone.showAds(609); }); Rosemary Infused […]

How one woman saved $30,000, quit her job, and traveled the world for a year (then never stopped). Quitting your job to travel the world sounds unrealistic to many people. Maybe even irresponsible. But…for long-term traveler and creator Kesi Irvin from Kesi To and Fro, taking a career break to see the world felt necessary. […] The post How To Plan a Round the World Trip Step-by-Step with Kesi Irvin  appeared first on The Thought […]