How to Money

Cutting Taxes & Retiring Sooner w/ Cody Garrett #1037Benjamin Franklin once wrote “... in this world, nothing is certain except death and taxes.” It was true over 200 years ago and it’s true today! But we’re here to argue that there’s another certainty pertaining to taxes: that we all have the ability to change our individual tax rate by our own actions! Our guest today, Cody Garrett, has thoroughly internalized that reality. He is an advice-only CFP at Measure Twice Financial who specializes in helping folks make a comprehensive financial plan. That includes the role taxes play in your ability to meet your goals. His new book, Tax Planning To and Through Early Retirement, helps folks plan intentionally around a giant expense we all face, taxes. We discuss the number of Americans, often involuntarily retiring before age 65, how Social Security should be factored into retirement planning but not solely relied upon, how small changes in savings rates can lead to significant retirement benefits, why flexibility in financial strategies is key to adapting to changing circumstances, and much more! Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: • Be sure and check out the "Tax Planning To and Through Early Retirement" Book: https://www.measuretwicemoney.com/book • • And you can enjoy Cody over at Measure Twice Money on YouTube: https://www.youtube.com/@MeasureTwiceMoney • • Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. • • Sign up for the weekly HTM newsletter • . It’s fun, free, & practical. • Find a thriving community of fellow money nerds by joining the HTM Facebook group! • Massively reduce your cell phone bill • each month by switching to a discount provider like Mint Mobile. And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money! Best friends out! See omnystudio.com/listener for privacy information.

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Move to Puerto Rico to Axe Taxes w/ Rachel Farris #1028Some families have lived on the same plot of land for generations… what’s more Americana than passing down the family farm to the next generation?! But the US also has a history of moving towards opportunity – the settling of the west and the gold rush in California, returning veterans moved at higher rates in the aftermath of WW2, and then more recently the pandemic led to an uptick in people reconsidering their living situation. BUT, what if the next great place to move to is an island in the Caribbean Sea? Not just because it’s beautiful, but because it offers certain tax perks that are unavailable anywhere else. Rachel Farris, CPA and tax strategist, joins the show to share the unique tax benefits of moving to Puerto Rico, particularly under Act 60, which offers significant savings for individuals and businesses. We discuss the implications of relocating including cultural adjustments of expat life, cost of living, the eligibility requirements for tax benefits, the appeal for W2 workers and entrepreneurs alike, the community of expats on the island, and much more! Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: • To learn more about the Act 60 Tax Strategy, head to MaximizeWealth.com • and to reach out to Rachel directly, head to RachelFarrisCPA.com • Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. • • Sign up for the weekly HTM newsletter • . It’s fun, free, & practical. • Find a thriving community of fellow money nerds by joining the HTM Facebook group! • Massively reduce your cell phone bill • each month by switching to a discount provider like Mint Mobile. And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money! Best friends out! See omnystudio.com/listener for privacy information.

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