Description

If you are in the retirement planning industry, you have probably heard of our guest today. Ed Slott is a well-known retirement expert who leads seminars for financial planners and advises people on how to retire securely. In this episode, Ed joins the show to share his best advice to ensure your retirement savings aren’t depleted by taxes by the time you need to use them.

Listen in as Ed explains the difference between tax planning and tax preparation, as well as key takeaways from his book The New Retirement Savings Time Bomb. You will learn the importance of paying for your taxes now, how to avoid compounding tax debt and how to win the retirement game.

What You’ll Learn:

• The importance of planning your taxes for the long run.
• The difference between tax planning or preparation.
• How to make taxes work for you rather than against you.
• How to take control of your finances for retirement.
• The power of believing in your ability to save more money.
• The importance of learning from history.
• Why you should pay your taxes now.
• The benefit of working with a financial advisor.

Ideas Worth Sharing:

”There is a big difference between tax preparation and tax planning.”- Ed Slott

“When it comes to your retirement savings it’s not how much as it is how much you get to keep.” - Ed Slott

“Get your plan, not the government plan.” - Ed Slott

Resources:

• The New Retirement Savings Time Bomb by Ed Slott
• Think and Grow Rich by Napoleon Hill