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İçerik Kyle Hammerschmidt tarafından sağlanmıştır. Bölümler, grafikler ve podcast açıklamaları dahil tüm podcast içeriği doğrudan Kyle Hammerschmidt veya podcast platform ortağı tarafından yüklenir ve sağlanır. Birinin telif hakkıyla korunan çalışmanızı izniniz olmadan kullandığını düşünüyorsanız burada https://tr.player.fm/legal özetlenen süreci takip edebilirsiniz.
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The 6 Steps To A Tax-Efficient Retirement Plan

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Manage episode 414130660 series 3470804
İçerik Kyle Hammerschmidt tarafından sağlanmıştır. Bölümler, grafikler ve podcast açıklamaları dahil tüm podcast içeriği doğrudan Kyle Hammerschmidt veya podcast platform ortağı tarafından yüklenir ve sağlanır. Birinin telif hakkıyla korunan çalışmanızı izniniz olmadan kullandığını düşünüyorsanız burada https://tr.player.fm/legal özetlenen süreci takip edebilirsiniz.

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Summary
In this episode of the Retire Ready Podcast, Kolin and Kyle discuss the importance of tax planning in retirement. They highlight the underappreciation of tax planning by pre-retirees and their financial advisors, and emphasize that the lack of tax planning can result in paying more taxes than necessary. The hosts provide six steps to building a tax-efficient retirement plan, including mastering provisional income, categorizing money by tax impact, strategizing the order of withdrawals, measuring tax bracket capacity, deciding between paying taxes now or later, and engaging in ongoing tax planning. They also discuss common mistakes to avoid in retirement tax planning.

Takeaways

  • Tax planning is a critical part of retirement that is often underappreciated by pre-retirees and their financial advisors.
  • The lack of tax planning can result in paying more taxes than necessary.
  • Building a tax-efficient retirement plan involves mastering provisional income, categorizing money by tax impact, strategizing the order of withdrawals, measuring tax bracket capacity, deciding between paying taxes now or later, and engaging in ongoing tax planning.
  • Common mistakes to avoid in retirement tax planning include assuming that taxes will be lower in retirement, ignoring how Social Security is taxed, neglecting Roth IRAs and Roth 401(k)s, disregarding taxes altogether, and taking money from accounts in the wrong order.

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

  continue reading

114 bölüm

Artwork
iconPaylaş
 
Manage episode 414130660 series 3470804
İçerik Kyle Hammerschmidt tarafından sağlanmıştır. Bölümler, grafikler ve podcast açıklamaları dahil tüm podcast içeriği doğrudan Kyle Hammerschmidt veya podcast platform ortağı tarafından yüklenir ve sağlanır. Birinin telif hakkıyla korunan çalışmanızı izniniz olmadan kullandığını düşünüyorsanız burada https://tr.player.fm/legal özetlenen süreci takip edebilirsiniz.

Send us a text

Summary
In this episode of the Retire Ready Podcast, Kolin and Kyle discuss the importance of tax planning in retirement. They highlight the underappreciation of tax planning by pre-retirees and their financial advisors, and emphasize that the lack of tax planning can result in paying more taxes than necessary. The hosts provide six steps to building a tax-efficient retirement plan, including mastering provisional income, categorizing money by tax impact, strategizing the order of withdrawals, measuring tax bracket capacity, deciding between paying taxes now or later, and engaging in ongoing tax planning. They also discuss common mistakes to avoid in retirement tax planning.

Takeaways

  • Tax planning is a critical part of retirement that is often underappreciated by pre-retirees and their financial advisors.
  • The lack of tax planning can result in paying more taxes than necessary.
  • Building a tax-efficient retirement plan involves mastering provisional income, categorizing money by tax impact, strategizing the order of withdrawals, measuring tax bracket capacity, deciding between paying taxes now or later, and engaging in ongoing tax planning.
  • Common mistakes to avoid in retirement tax planning include assuming that taxes will be lower in retirement, ignoring how Social Security is taxed, neglecting Roth IRAs and Roth 401(k)s, disregarding taxes altogether, and taking money from accounts in the wrong order.

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

  continue reading

114 bölüm

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