Episode Details

Scott and James discuss when it makes sense to start redirecting retirement savings to other account types.

Listener Question

1. Currently, I'm 47 and I have been maxing out my retirement accounts. I believe that I am in good position for when I retire with the amount I have and the amount it will grow in next 15 years. My question is if it is foolish to now build up a non retirement account instead of continuing to pour money into the retirement account. I realize I'd be giving up tax benefits, but right now I have very little flexibility for the next 13 years. 95% of my net value is either in retirement accounts or my house. I do have an emergency fund for 6 months in cash. I'm thinking since my retirement funds are in good shape that I should start building some assets/brokerage account outside of retirement in case I want to retire early or work part time or want/need money for any reason before I'm 59. What's your thoughts on if there is a point that you should stop worrying about retirement accounts and their tax benefits and building for the years before retiring?

Planning Points Discussed

• Retirement Planning
• Utilizing Time Efficiently
• Capital Appreciation
• Purchasing Power
• Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:35 - Introduction

4:15 - Optimize Your Balance Sheet

5:05 - Individual Stock Example

6:20 - Liquidity

8:26 - Rule of 55

10:06 - Tax Planning

14:23 - Flexibility Benefits of a Bridge Account

15:44 - Roth Conversions

17:23 - Supplemental Accounts

18:24 - Please keep sharing!

19:00 - Aligning Your Financial Goals

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James

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Scott

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