Wed, 27 November 2019
After all of the retirement tax management topics over the past few episodes, today we finally get to withdrawal strategies. We are wrapping up our monthlong series on retirement tax management, so make sure you listen to the previous 3 episodes to get the scoop on managing your taxes in retirement. This is a huge topic that we will definitely revisit in the future. But today you can get some great tips on how to manage income in retirement, dangers to look out for, and withdrawal strategies. When you’re done listening, head on over to RogerWhitney.com and take our listener survey to give us your input on the show.
Christmas gift ideas for those that have everything
Meet BW, our host of the new Coaches Corner segment
We’re starting a new once a month segment that includes coaching tips for the theme of the month. These tips aren’t on the financial side of things, but rather the more personal side. BW is a certified retirement coach who is also the head of the education department at the Rock Retirement Club. BW will bring research and coaching tips to help you learn to ease into and then thrive in retirement. Topics may include work reorientation, replacing work functions, life meaning and purpose, family and relationships, how to fill your day in retirement, or health and leisure. Listen to the new Coaches Corner segment to meet BW and hear his tips on tax management in retirement.
Taxes to be aware of in retirement
Tax management in retirement is a multi-dimensional puzzle. There is so much to consider, but that’s why you’re planning ahead by listening to this show! Let’s look at some taxes you need to be aware of in retirement:
Withdrawal strategies you can use to help plan your taxes in retirement
Even though there are lots of scary new taxes to be aware of in retirement. It’s actually an exciting time, tax-wise, because you have much more control of your taxes than ever before. You are in control of your income and you can time it in ways you never have been able to before. And there are plenty of other strategies you can use to help you manage your taxable income. Consider doing Roth conversions, strategic gifting, and timing your Social Security to help you manage your taxes in retirement. Listen in to learn how to create a dashboard and plan your taxes year by year.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
HOT TOPIC SEGMENT
PRACTICAL PLANNING SEGMENT
THE THANKFUL LAB SEGMENT
TODAY’S SMART SPRINT SEGMENT
Resources Mentioned In This Episode
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center