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Before the article, here’s what’s happening this week on our podcast, Personal Finance for Long-Term Investors: Retirement withdrawal strategies are one of the most common topics that you readers write to me about. You ask questions like: Which accounts and which assets should you withdraw first, and why? How does Social Security fit in? What about required minimum distributions? IRMAA? How do you minimize your tax bill along the way…or are taxes even the right concern to prioritize? I put together a popular whitepaper to tackle some of these questions – but… …but even this whitepaper doesn’t dive deep into specific withdrawal strategies and the “correct” order of operations. Why not? Because your income, your account types, your cost basis, your Social Security benefit, your everything will impact the best retirement withdrawal strategy for you. There are too many corner cases and “if-then” scenarios to address everyone’s ideal withdrawal strategy in one white paper, let alone one blog post. But I’ll come close today. Or at least I’ll try. That’s the goal. Buckle up, because the rest of this article will provide a universal framework of fundamentals for retirement withdrawal strategies. Some Expectations… I don’t want to mislead you. This article is not one of my lighter, 3-minute articles. This won’t be short. This won’t be light. This won’t be pithy. We’re diving deep. Ok, it’s not that serious. Strap in! But even with this lengthy detail, we likely won’t go so deep as to explore every nook and cranny of your specific scenario. With retirement withdrawals, the stakes are high and pitfalls are plentiful. We want your retirement withdrawal plan to be optimized from Day 1, yet flexible enough to change along the way and account for things like the sequence of returns risk, down markets, taxes, RMDs, IRMAA, inheritance and gifting, etc. If you’re going to read this article, it probably means you’ve saved and invested wisely. So let’s withdraw and spend wisely too. Answering Some Other Questions… The main topic today is retirement withdrawal strategies. But I finished this article and realized I should return here to point you to articles on similar topics. For example: How Much Can You Safely Withdraw From Your Portfolio Each Year? We’ve answered that here. You’re Probably Using the 4% Rule All Wrong Is the “4% Rule” Too Risky? How Should You Tax-Optimize Where Your Assets Live? We’ve answered that here. The “Asset Location” Dilemma: Tax Strategy or Tax Trap? What Assets Should You Own? How Much Risk Should You Take? How Do You Design a Good Portfolio? This is one of my most common topics to write about, so please go dive into the blog’s backlog of articles. Here are a couple interesting starting points: “Asset-Liability Matching” Aligns Your Money to Your Future Willingness, Need, and Ability: How
When most people think about real estate, they picture a home or maybe that dream beach house. However, from an investment perspective, real estate can serve a different purpose in helping to diversify your portfolio and potentially smooth out the ride during retirement. So, how exactly can real estate fit into your financial picture? Let’s break it down. The Many Faces of Real Estate Investing Real estate can serve as a valuable piece of your […]
Close yur eyes and think of what the perfect day in retirement looks like to you. Are you playing with grandkids? Laying on a beach? Traveling the world with your best friend? Whatever the dream is, getting there requires a financial plan. And when it comes to retirement savings, women often lag behind men. That’s […] The post Retirement Planning Tips For Women appeared first on Bravely Go.
“What If I Never Have Enough to Retire?” It’s one of the most common financial fears I hear about: Not having enough money to retire comfortably and being forced to work for their whole lives. With 59% of people afraid Social Security won’t be around for them and 64% fearing they’ll outlive their savings, the issue feels overwhelming. On top of that, the median estimated retirement savings in the US (including people with no savings) […]
I’m delighted to say we have long-time Monevator reader ‘London A Long Time Ago’ doing her FIRE reveal this month. While our career paths are world’s apart, I was surprised by the echoes to my own perspectives on freedom, self-determination, and how fragile life can be. Few of us will be lucky enough to retire to the glorious beaches of Australia, but there’s still lots to mull over. Enjoy! A place by the FIRE Hello! […]
When Fritz and I agreed to this experiment, we had no idea what to expect. Who knew my sparkle bomb of an idea (sharing my own thoughts on retirement on this blog) would, well, set off so many sparkles! Thank you for the warm welcome in the comments. I look forward to continuing the journey with all of you. As I said in our initial post, I want to share how my personal thoughts on […]
Click Here to Read the Transcript for This Episode This week on the Journey to Launch podcast, I’m joined by Pat Flynn—digital entrepreneur, founder of Smart Passive Income, creator of Deep Pocket Monster, and author of Lean Learning: How to Achieve More by Learning Less. Pat shares how getting laid off from his dream job led to building a thriving online business, and how he’s stayed grounded while growing multiple ventures across podcasting, YouTube, community […]
Life has been too much fun and entertaining lately (the blog post “How to Un-FIRE yourself – Canada Edition” is still pending), hence we almost forgot to plan a small FIRE meetup. But after a quick call with Mrs Hoefnix and some feedback in a Slack FIRE group this weekend, there is an update! Here are the details for the upcoming June 2025 Fire Meetup! Also, keep your agenda open on November 15th, 2025. We (me and Mrs Hoefnix) are planning a bigger gettogether with presentations and breakout sessions. Location, details and tickets/registration to be confirmed later this month! Where? Due to logistical limitations from our end, and due to lack of time to look for other venues. We had to resort to the basic option. Hence, plan is to meet yet again at the La Place in Leiderdorp! Address: Persant Snoepweg 2, 2353 KA , Leiderdorp June 2025 Fire Meetup When? Sunday June 29th, 2025 from 13:00 onwards until…. (closing time is at 20:00) What to bring? Good spirits, a desire to talk money, investing and life. Don’t forget to bring a full wallet (Going out for food and drinks is not cheap these days). How to get there? By car (free parking), by bicycle (also free parking) or by public transportation (go to Leiden Central Station and take bus 182, exit at Munnikenbrug). See also the plot below. June 2025 Fire Meetup: Location Leiderdorp Registration? No registration required, you just show up! But letting us know if you are coming by comment or email is always appreciated! If the last few meetups are any indication, we should have about 20-25 people. Which is a big enough group to have good conversations and always somebody to talk to. See you on the 29th of June! The post June 2025 Fire Meetup appeared first on Cheesy Finance.
What if I told you there’s a super simple formula that can give you a crystal-clear number, an exact dollar amount that tells you when you can stop working and retire early? It’s called the 4% rule, and while it doesn’t sound all that exciting, it might just be the ticket to retiring a full decade earlier than you thought possible. Wait, What Is the 4% Rule? The 4% Rule is a financial shortcut that […]
As people earn more money throughout their careers, it’s natural to upgrade their lifestyle with better homes, nicer cars, and more luxurious vacations. However, this phenomenon, known as lifestyle inflation, poses significant risks, especially in retirement planning. When spending increases in tandem with income, it can be challenging to save enough for a comfortable retirement. Understanding how lifestyle inflation can derail retirement plans is crucial for maintaining financial stability in your later years. 1. Eroding […]
Financial independence is no longer a distant dream reserved for the wealthy. Technology has reshaped how people earn money, and automated trading platforms are leading the charge. These tools allow everyday individuals to build steady income streams without spending hours analyzing markets. By leveraging algorithms and smart software, anyone with a computer and an internet connection can tap into this opportunity. This post explores how automated trading strategies and passive investing tools are making financial […]