Choosefi | Financial Independence Podcast For The Stealth Wealth Community

028 | In today's podcast we discuss the four different "buckets" available to savers plus an in-depth look at the Roth IRA and the 'Backdoor Roth.' In Today’s Podcast we cover: The order of operations for how you should approach the different “buckets” available to you both for retirement accounts and for your taxable savings Four basic ways for your retirement and investment funds to be taxed Best case is an account similar to the HSA which is not taxed when you put the money in nor when you pull it out Option 2 is the Roth IRA which is taxed upfront but not when you pull the money out Option 3 is a traditional IRA, 401k, etc. where it is not taxed when you contribute but is taxed when you withdraw Option 4 is your regular savings/investment accounts We focus mostly on tax-deferred retirement accounts because that is the best way to lower your taxable income in the current year and reduce your tax liability. Because of advanced FI concepts such as the ‘Roth IRA conversion ladder’ there is a chance you can pu