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In today’s episode, Erica and Ben dive deep into understanding marginal and effective tax rates, how they impact your income, and why they're important. The episode also provides tips on managing tax withholdings and recommendations for helpful financial resources.

04:57 Listener Mail: Early Retirement Resources

06:57 Exploring Budgeting Apps: Monarch

11:16 Understanding Tax Rates: Marginal vs. Effective

20:15 Practical Tax Tips and Withholding Adjustments

28:50 Wrap up

Resources Referenced:

Ep75 - Navigating early retirement options and "bridge years"

ChooseFI Podcast / Newsletter

Simple Path to Wealth by JL Collins

Monarch Money (budget app) - 30 day free trial

2024 Federal Income Tax Brackets [Nerdwallet]

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LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show.

In this episode, Erica and Ben answer a slew of listener questions from the mailbag

02:56 Budget Tracking

07:17 When to Consult a Financial Planner

13:40 Managing Multiple Bank Accounts

18:20 Maximizing Investments for Conservative Savers

20:43 Money Market Accounts

22:47 Balancing Conservative and Aggressive Investments

24:32 Risk Tolerance

27:29 Finding the Right Tax Professional

Resources Referenced:

Join the mail list

The Soloist Life Podcast - Financial Planning for Soloist with Sean Mullaney

The Simple Path to Wealth by JL Collins

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LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show.

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In this episode of the 'Coaches, Consultants, and Money' podcast, hosts Erica and Ben Goode delve into key personal financial decisions surrounding early retirement.

They cover the practicalities of planning for early retirement, including tax-efficient savings strategies, the implications of withdrawing from retirement accounts at different ages, and utilizing credit card points creatively for financial benefit. The episode concludes with tips for financial planning, including consulting with financial advisors, and encouragement for listeners to consider their unique financial situations and goals.

04:22 Exploring the Concept of Early Retirement

07:08 The Realities and Strategies of Planning for Retirement

12:35 Understanding Social Security and Retirement Savings

17:34 Navigating Early Withdrawals and the Rule of 55

19:38 Navigating the Rule of 55 with a Solo 401k Plan

24:10 The Concept of Bridge Years in Retirement Planning

28:18 Understanding Expenses and Savings for Early Retirement

37:54 Seeking Professional Financial Advice

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Connect with Ben | LinkedIn