In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson & Linwood Fraher of Martin Wealth Solutions walk through a practical tax planning checklist designed specifically for those pursuing early retirement.
Sam and Linwood explain that taxes don’t stop in retirement — and without a plan, they can quietly become one of the largest expenses you face. They break down key areas to evaluate, including withdrawal sequencing, account types, Social Security timing, and Medicare-related tax impacts.
This episode provides a simple, actionable framework to help listeners stay proactive, avoid surprises, and build a more tax-efficient retirement strategy.
http://retirewithmartin.com/ ← Learn about working with us
Episode Breakdown
00:00 Introduction to today’s topic
01:36 Why tax planning matters in early retirement
03:02 Overview of the tax planning checklist
04:28 Step #1: Understand your income sources
05:56 Step #2: Plan your withdrawal strategy
07:34 Step #3: Evaluate tax diversification
09:06 Step #4: Consider Roth opportunities
10:44 Step #5: Be aware of Social Security taxation
12:18 Step #6: Plan for Medicare and IRMAA impacts
13:56 Step #7: Monitor required minimum distributions (RMDs)
15:28 Step #8: Coordinate with a tax professional
16:56 Common tax planning mistakes to avoid
18:20 Key takeaways and next steps
Disclaimer
Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.
