In Today’s Podcast we cover how to harvest long term capital gains tax free. Friday Roundup 7 Review of Monday’s episode with Jeremy from Go Curry Cracker Brad and his family just visited Washington DC for the weekend and used Chase Ultimate Rewards points to stay at the Hyatt Place National Mall Brad’s trip to Walt Disney World with his family, parents and in-laws Jonathan now understands harvesting capital gains and losses after the episode with Jeremy Unconventional choices: Jeremy and W...
In Today’s Podcast we cover how to harvest long term capital gains tax free. Friday Roundup 7 Review of Monday’s episode with Jeremy from Go Curry Cracker Brad and his family just visited Washington DC for the weekend and used Chase Ultimate Rewards points to stay at the Hyatt Place National Mall Brad’s trip to Walt Disney World with his family, parents and in-laws Jonathan now understands harvesting capital gains and losses after the episode with Jeremy Unconventional choices: Jeremy and Winnie haggling at the farmer’s market near the close of business. Brad going to Disney World before Molly turned 3 so they could get her park ticket for free. Jeremy taking his son on a flight the day before he turned 2 so he could be a lap child on a business class flight Quick hit takeaways from the Jeremy episode: He told his mom he had a ’60 year emergency fund’; he opened a Roth-IRA for his son for earned income on the website. The power of having money and financial independence enabled Jeremy to walk out of his job instead of doing something that he didn’t want to do. Brad’s story of when he left his job and taking the power back from corporate America Investing philosophy and the importance of taking your brain out of financial decisions His financial freedom clock started when he ‘got to broke’ and paid off his student loans Capital Gains Harvesting | Avoiding long term capital gains tax Case study: Married couple with one child. 30 years old. $120,000 of income and maxing their 401k ($36k in total) Qualified dividends and long-term capital gains are taxed at 0% if you’re in the 10% or 15% marginal tax bracket Understanding how marginal tax rates work for income taxes The definition of FI: having 25 times your annual expenses saved up and invested The long term capital gains tax The long term capital gains tax defined & explained How the Roth-IRA conversion ladder would work for this couple and how they can harvest long term capital gains tax free by using advanced FI techniques Itunes reviews and questions from the community Reader case study from Kevin: How to work with a spouse from an ultra-wealthy lifestyle and bring them over to the FI lifestyle Find what makes you happy in life and what you value and spend accordingly Kevin’s scenario is almost exactly like our case study on this episode Travel Rewards question: How to maximize hotel points with Hyatt and Starwood hotels What’s coming up on ChooseFI: JL Collins talks about the Stock Series, the Stapes of FI, JD Roth and Kristy from Millennial Revolution, the true cost of car ownership Links from the show: Podcast episode with Jeremy from Go Curry Cracker Hyatt Place Washington DC National Mall How to take a nearly free trip to Disney World with rewards points from Richmond Savers Personal Capital signup link – free net worth and financial tracker JL Collins’ Stock Series Podcast episode: Travel Rewards points Hyatt House Emeryville, CA Recommended Content Introduction to Free Money Part 1 of the Never Pay Taxes Again series
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