If you are getting close to retirement or retired now, what are the moves that you should be doing to ensure that your retirement is as tax efficient as possible? If you think taxes are going up in the near future, you are in a situation where you need to explore a strategy to diffuse the ticking “tax time bomb” that is existing in your retirement accounts.
In this episode, I will share with you how you can analyze your tax situation and take advantage of the current window of opportunity and how we can control the tax environment.
In this episode, you'll learn...
- Chris’ positive focus for the week
- Partnering with an Actuary
- The order of money conversation
- Tax-free accounts
- Cash Value Life Insurance
- Taxable Money
- Tax-Deferred Money
- The reason why you cannot rely on pension only
- Changes in the Social Security
- Penalties on beneficiaries
- Roth conversion strategy
- Why does a person who is in retirement need insurance?
- Death benefit doubles as a long-term care benefit
- The Secure act and deferring paying taxes
- Why the stimulus package that was just passed by the government can directly affect tax
- The need to analyze your tax situation NOW.
- This may be the last year to take advantage of the window of opportunity for low marginal tax bracket
Books:
- No Compromise Retirement Plan
- New Rules of Retirement Savings - We can send you a Free Electronic Book copy!
Links and Resources:
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