In this episode: the 4% rule, second generation FI, retirement saving, 529's, 401k's, and is it too late for FI?

This week we joined by Rachael Camp of Camp Wealth for another installment of Mail Bag, where we will be answering some questions sent in by our listeners. Together, we cover topics surrounding the 4 percent rule, starting the FI journey “late”, the importance of tax diversity in your retirement accounts, and the potential benefits and drawbacks to 529 plans. On the path to FI, the community this journey brings can be the best resource, and answering any questions you may have is our way to ensure you’re well on your way to FI, as well as help others in the community who may be navigating similar scenarios!

Rachael Camp:

Website: rachaelcampwealth.com
Twitter: @camp_wealth

Please note:

Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.

Timestamps:

1:09 - Introduction
3:22 - Can It Be Too Late For FI?/Credit Card Debt
18:25 - The 4% Rule And Early Retirement
27:02 - Withdrawing Earnings
40:06 - Not Maxing Out Your 401k?
50:03 - 529's and Financial Aid
57:04 - Second Generation FI
72:10 - Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and FI Resources:

Earn $1,050 or More With These 3 Cash Back Cards
Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
Find a new side hustle with one of our Educational Courses
Commission-Free Investing with M1 Finance

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Shownotes Transcript

457 | Mailbag: Cover Your Expenses | Rachael Camp