That tax deduction you took wasn't a gift. It was a loan from the IRS, and the bill is coming due.

Daniel sits down with Jimmy Miller, fiduciary financial advisor, founder of Baobab Wealth Abroad, and author of Divorce the IRS, to expose the tax time bombs ticking inside tax-deferred retirement accounts. They break down the myth of the lower tax bracket in retirement, why a Roth conversion works like refinancing a mortgage, the four account buckets every freedom plan needs, and the tax surprises waiting for anyone dreaming of retiring abroad, where some countries tax a Roth like a regular brokerage account.

Chapters:

• 00:00 — A Loan From the IRS
• 01:47 — The Taxation Time Bomb
• 03:56 — A Loan With Terrible Terms
• 05:21 — Eight Bombs & the Wet Snowball
• 07:18 — The Myth of the Lower Tax Bracket
• 09:27 — Provisional Income Wake-Up Calls
• 10:22 — The Opportunity FIRE Savers Miss
• 13:53 — Roth Conversions: Refinancing Your IRA
• 15:00 — Finding Your Ideal Pre-Tax Number
• 16:29 — Geographic Arbitrage: Taxes Follow You
• 18:00 — Expat Tax Breaks: FEIE & Foreign Tax Credit
• 20:39 — Tax Treaties & the Roth Trap in Europe
• 22:07 — The Four-Bucket Baseline & Pro-Rata Rule
• 24:00 — Tax Bracket Management & Lifetime Planning
• 27:12 — Legacy: Charity, Kids & the 10-Year Rule
• 29:10 — Jimmy's Final Advice & Baobab
• 31:24 — Daniel's Takeaways

Escape The Clock Resources:

📖 The Book — https://escapetheclock.com/book

⬇️ The Planner — https://escapetheclock.com/toolkit

🎙️ The Podcast — https://escapetheclock.com/podcast

🤝 1:1 Help — https://escapetheclock.com/schedule

✉️ Free Weekly Insights — https://escapetheclock.com/subscribe

Episode References & Resources:

ℹ️ Americans hold $33T+ in IRAs and workplace retirement plans — Investment Company Institute (2026) https://www.ici.org/statistical-report/ret_25_q4

ℹ️ Only 3 in 10 Americans have a plan to minimize taxes on retirement savings — Northwestern Mutual (2024) https://news.northwesternmutual.com/planning-and-progress-study-2024

ℹ️ RMDs from pre-tax accounts begin at age 73 — IRS (2025) https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs

ℹ️ Up to 85% of Social Security benefits can be taxable — SSA (2025) https://www.ssa.gov/benefits/retirement/planner/taxes.html

ℹ️ Foreign Earned Income Exclusion: $130,000 for 2025 — IRS (2025) https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion

ℹ️ 5.5 million Americans estimated living abroad — AARO (2024) https://aaro.org/living-abroad/how-many-americans-live-abroad

ℹ️ Inherited IRA 10-year rule for most non-spouse beneficiaries — IRS (2025)https://www.irs.gov/retirement-plans/retirement-topics-beneficiary

Connect with Jimmy:

• Website — https://baobabwealth.com/
• YouTube — https://www.youtube.com/@baobabwealth/
• LinkedIn —https://www.linkedin.com/company/baobabwealthmanagement

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• Leave a rating & review.
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This information is for educational purposes only and not financial advice. Consult a qualified professional for personalized guidance.

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