A๐ฟ๐ฒ ๐๐ผ๐ ๐ฝ๐ฎ๐๐ถ๐ป๐ด ๐บ๐ผ๐ฟ๐ฒ ๐๐ฎ๐ ๐ฒ๐ ๐๐ต๐ฎ๐ป ๐ป๐ฒ๐ฐ๐ฒ๐๐๐ฎ๐ฟ๐ ๐ถ๐ป ๐ฟ๐ฒ๐๐ถ๐ฟ๐ฒ๐บ๐ฒ๐ป๐? ๐๐ถ๐ฑ ๐๐ผ๐ ๐ธ๐ป๐ผ๐ ๐๐ต๐ฎ๐ ๐๐ต๐ฒ๐ป ๐๐ผ๐ ๐ฟ๐ฒ๐๐ถ๐ฟ๐ฒ, ๐๐ผ๐๐ฟ ๐๐ฎ๐ ๐๐ถ๐๐๐ฎ๐๐ถ๐ผ๐ป ๐ฐ๐ฎ๐ป ๐ฎ๐ฐ๐๐๐ฎ๐น๐น๐ ๐ฏ๐ฒ๐ฐ๐ผ๐บ๐ฒ ๐บ๐ผ๐ฟ๐ฒ ๐ฐ๐ผ๐บ๐ฝ๐น๐ฒ๐ ? ๐๐ถ๐ณ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ ๐ถ๐ป๐ฐ๐ผ๐บ๐ฒ ๐๐๐ฟ๐ฒ๐ฎ๐บ๐โS๐ผ๐ฐ๐ถ๐ฎ๐น ๐ฆ๐ฒ๐ฐ๐๐ฟ๐ถ๐๐, ๐ฐ๐ถ๐ญ(๐ธ)๐, ๐๐ฅ๐๐โa๐ฟ๐ฒ ๐๐ฎ๐ ๐ฒ๐ฑ ๐ฑ๐ถ๐ณ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐๐น๐. ๐ ๐ฎ๐ป๐ ๐ฟ๐ฒ๐๐ถ๐ฟ๐ฒ๐ฒ๐ ๐๐ป๐ธ๐ป๐ผ๐๐ถ๐ป๐ด๐น๐ ๐ผ๐๐ฒ๐ฟ๐ฝ๐ฎ๐ ๐จ๐ป๐ฐ๐น๐ฒ ๐ฆ๐ฎ๐บ ๐ฑ๐๐ฒ ๐๐ผ ๐ฎ ๐น๐ฎ๐ฐ๐ธ ๐ผ๐ณ ๐๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฐ ๐๐ฎ๐ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด. ๐๐๐ ๐ถ๐ ๐ฑ๐ผ๐ฒ๐๐ป'๐ ๐ต๐ฎ๐๐ฒ ๐๐ผ ๐ฏ๐ฒ ๐๐ต๐ฎ๐ ๐๐ฎ๐โฆ
Bruce Steinbrock and I are discussing key strategies to help manage your retirement dollars and potentially help you keep more of your hard-earned money. We're looking at:
==> How to structure withdrawals from different accounts for optimal tax efficiency
==> Strategies for managing your income to avoid higher tax brackets
==> The power of Roth conversions*** and when they make sense for your situation
==> Tax implications when a spouse passes away and how to prepare
==> How being proactive, not reactive, can lead to substantial tax savings
Key Insights from This Episode:
1. The Longevity Factor: Discover why living longer can be both a blessing and a financial challenge in retirement.
2. Tax Planning Strategies: Learn about opportunities to optimize your tax situation before and during retirement.
3. Social Security Considerations: Understand how working part-time in retirement might affect your Social Security benefits.
4. Market Volatility Concerns: Explore strategies for managing your retirement savings during market downturns.
5. Proactive Planning: Find out why being proactive is crucial for retirement success.
6. Planning For The Death of a Spouse: We also touch on the financial impact of losing a spouse and how to prepare for this eventuality.
Don't let uncertainty derail your retirement plans. Get the knowledge you need to make informed decisions about your future.
*** Converting an employer plan account or Traditional IRA to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences including but not limited to, a need for additional tax withholding or estimated tax payments, the loss of certain tax deductions and credits, and higher taxes on Social Security benefitsย
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Disclosure:
Beau Henderson is an investment advisor representative with Fiduciary Capital, Inc., a registered investment advisor. Opinions expressed are for educational purposes only and do not constitute specific individual advice. RichLife Advisors does not offer legal or tax advice. Listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance.
Beau Henderson and RichLife Advisors are not associated with or endorsed by Medicare, the Social Security Administration, or any other government agency. Maximizing your Social Security benefits assumes foreknowledge of your date of death. Claiming later for a higher benefit may result in fewer benefits if you pass away earlier than expected. Investing in securities involves risk, including potential loss.
