June 2019 Best of the Web

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Each month we share the best resources we’ve found to help you save more, invest better, and retire sooner.

Popular topics are building wealth, DIY investing, creating retirement income, managing risk, and limiting your tax burden to enable you to use your money to build the life you want.

Early retirement frees up the time to ponder topics that tend to get neglected during careers. So while this is first and foremost a personal finance blog, we also share articles about traveling and seeking adventure, finding happiness, enhancing health, improving relationships, and finding meaning and purpose in life.

Before jumping into this month’s articles, I want to thank everyone who took the time to read and comment on last week’s post about the challenges of helping aging parents with their finances.

I normally try to respond to as many comments as possible, but I was traveling last week with spotty internet access. By the time I returned the comments were approaching 100, so replying was overwhelming. I did read every one. Thanks again to everyone who took the time to share your thoughts and experiences dealing with this important and often uncomfortable issue!

With that, enjoy June’s Best of the Web. . .

Retirement Income

Generating income in early retirement is challenging and it will be different for each of us. Physician on FIRE lays out a framework for thinking about this issue systematically with The Epochs of Early Retirement.

Typically the articles shared in these round-ups are things Darrow or I have read recently. However, I revisited an oldie but goodie that I felt would be useful to many when a reader sent an email asking how retiring early affects future Social Security benefits. Justin from Root of Good answers the question in great detail writing How Early Retirement Affects Social Security.

Owning Real Estate In Your IRA

After a successful one year experiment as real estate investors, my wife and I continue to entertain the idea of picking up a few properties for the long haul.

One option we’ve been considering is owning properties inside our IRAs where we have a lot of our assets tied up (as do many early retirees who are looking to increase income and investment returns).

So I read with interest when Darrow sent me the following selection from Jeffery Levine explaining Unique Planning Challenges Of Directly Owning Real Estate Inside An IRA.

More Retirement Account Planning Options

David Graham writes The Tax Planning Window and Partial Roth Conversions for “401(k) Millionaires”

Protect Yourself

The Security and Exchange Commission made changes this month that the agency says will help investors get advice more in alignment with their interests. Tara Siegel Bernard isn’t so sure, writing S.E.C. Tells Brokers to Work for You, but Don’t Skip the Fine Print.

Life After Financial Independence

J.D. Roth writes Beyond wealth: What happens AFTER you achieve financial independence?

Joseph Coughlin writes What Summer Vacation & Retirement Have In Common, And Why That’s A Problem.

Women and FIRE

FIRE continues to go mainstream. This month Charlotte Coles wrote in the New York Times For These Women, A FIRE That Burns Too Male and Too White.

One woman with an amazing story is Jillian Johnsrud. Her family’s unique path to financial independence with a large family was featured this month in a MarketWatch article and video.

Behavioral Finance

Having gone from a physical therapist to someone who writes about personal finance, I’ve noticed tremendous similarities between the two disciplines. In both, it is difficult to discern what to believe amongst a flood of conflicted information. Understanding and controlling your behavior play a huge role in your outcomes in both fitness and finance. Ben Carlson asks Which is Harder to Follow: Fitness Advice or Financial Advice?

A frequent contributor to our monthly round ups is Morgan Housel. This month he and his wife welcomed a new baby girl into the world. He wrote Financial Advice For My New Daughter. Housel’s thoughtful approach to behavioral finance makes him one of my favorite contemporary writers. This article makes me think he’ll be a pretty good dad as well.

Congratulations to the Housel family and best wishes to them and all of you for a great summer.

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Valuable Resources

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[Chris Mamula used principles of traditional retirement planning, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. After poor experiences with the financial industry early in his professional life, he educated himself on investing and tax planning. After achieving financial independence, Chris began writing about wealth building, DIY investing, financial planning, early retirement, and lifestyle design at Can I Retire Yet? He is also the primary author of the book Choose FI: Your Blueprint to Financial Independence. Chris also does financial planning with individuals and couples at Abundo Wealth, a low-cost, advice-only financial planning firm with the mission of making quality financial advice available to populations for whom it was previously inaccessible. Chris has been featured on MarketWatch, Morningstar, U.S. News & World Report, and Business Insider. He has spoken at events including the Bogleheads and the American Institute of Certified Public Accountants annual conferences. Blog inquiries can be sent to chris@caniretireyet.com. Financial planning inquiries can be sent to chris@abundowealth.com]

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