🌊 Retirement savings waterfall

Published 7 days ago • 1 min read

Hello Reader,

It seems like every year we get a new name for a weather event and this week it was "heat dome."

I was just in Dallas, Texas and returned to Maryland where it was hotter. It was 91 when I left Texas and it was 97 here! (My wife took a picture of our thermometer and it said 102!)

If you're experiencing the heat dome too (which hopefully is ending today), stay cool!

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📚 Retirement savings waterfall

If in the wealth accumulation phase of your life, saving for retirement can be challenging because there are so many options.

(if you are closer to the retirement stages of planning, I will have more articles on this in the future as I help my parents navigate - please reply with your questions so I can prepare!)

Fortunately, there's a simple "order of savings" that you can follow to help:

👉 Retirement Savings Waterfall

💌 States that don't tax retirement income

I wouldn't move because of tax reasons but if I were moving in retirement, I would include taxation in my decision making because there are some really favorable states (taxwise anyway!)

I guess I have taxation on the mind lately. 🤣

👉 What states don't tax retirement income

🥲 How the tax code penalized marriage

I bet you've probably heard about how the U.S. tax code penalizes marriage... well, today you can learn how.

My friend Robert at The College Investor breaks down all the ways the tax code does it.

👉 How the U.S. Tax Rules Penalize Marriage

What did you think of today's email?
✅ I Loved It! 🟨 It Was Okay ❌ Not My Favorite

Talk to you soon!

Jim

PS. I've been using a receipt scanning app called Fetch Rewards lately and it's been an easy way to earn gift cards. You won't earn a lot but it's always fun to optimize and turn trash (receipts) into cash (gift cards). Right now you get 2,000 points when you scan your first receipt.

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