Group 1 - The F.I.R.E. (Financial Independence Retire Early) strategy can significantly grow retirement savings, potentially reaching target amounts a decade or more before age 65 [1] - Early retirement at high earning levels can lead to substantial tax liabilities from the IRS and local governments, depending on the state of residence [1] - Becoming an expat during retirement may trigger additional tax issues that require careful planning [1] Group 2 - US citizens are taxed on worldwide income regardless of their location, with the Foreign Earned Income Exclusion allowing for up to $120,000 to avoid double taxation [3] - Extended travel abroad can result in additional tax liabilities from host countries [3] - The IRS pursues unpaid taxes for up to 10 years, adding penalties, which can complicate plans for retiring overseas without proper tax strategies [4] Group 3 - A Reddit user in his 50s has accumulated $9 million in retirement accounts and plans to withdraw $300,000 annually while minimizing tax liabilities [5] - The user seeks advice on whether moving out of the US can reduce IRA taxes and if there are tax advantages to extensive travel abroad [6] - Questions include the necessity of moving funds to another country and the best practices for managing expenses while living abroad [6]

Core Insights - The IRS has penalized American taxpayers over $162 million for falsely claiming tax credits, often influenced by misleading online advice [1] Group 1: Tax Misconceptions - Misleading tax advice from social media influencers and scammers has become common, making fact-checking essential to avoid legal issues [1] - A popular misconception is that receiving a raise leads to a higher overall tax burden, which is a misunderstanding of the U.S. progressive tax system [4][5] Group 2: Tax Strategies and Legalities - The "Overseas Zero Tax Strategy" suggests that moving to different countries can legally avoid income taxes, but U.S. citizens must report all income earned abroad [3][4] - Claims of writing off personal expenses as business deductions are often illegitimate; the IRS requires that deductions be "ordinary and reasonable" [6][7]