These tax traps could derail your early retirement plan

The video discusses the concept of financial independence and early retirement (FIRE), highlighting the importance of strategic saving and investing. It addresses potential tax complications retirees may face, such as unexpected tax bills and missed deductions, especially for those earning income from part-time work or managing rental properties. The video explains the IRS requirements for sole proprietors, including estimated quarterly taxes and self-employment tax deductions. It also covers health insurance planning for early retirees, emphasizing the need to consider rising costs and tax deductions. Finally, it advises on mortgage management and investment strategies to optimize tax brackets and healthcare premiums.

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