Nov 10, 2020
People love retirement accounts.
If I had a dollar for every time someone got excited about contributing to their backdoor Roth IRA, I would probably be a millionaire.
While it’s great energy to have, it’s not that important to your long-term financial future. In this episode, I share my thoughts on why your retirement accounts don’t matter nearly as much as you think.
In today’s episode, you'll find out:
- Reader question: Are student loan repayment grants worth it?
- Reader question: Two key differences in employer student loan programs
- Reader question: Can you prepay or make lump sum payments for PSLF?
- Why backdoor Roth IRAs aren’t as great as you think
- My shocking confession about backdoor Roth IRAs
- When retirement accounts actually DO matter
- Why age 50 is a key milestone in your retirement plans
- Why retirement accounts can’t help you if you want (or need) to retire early
- How to use a brokerage account as a financial safety net
- What to do if you want to be financially independent
- How low-income individuals can reach early retirement
- Why you shouldn’t optimize every financial decision
Full show notes at: http://studentloanplanner.com/102
Links mentioned:
StudentAid.gov PSLF
guidelines
Physician on Fire guide to backdoor Roth
IRAs
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