Retirement tax planning should begin well before retirement. Listener Jodie, with over $2 million in assets in various types of accounts, is concerned about the high tax bracket she anticipates she be in in retirement. Is there a tax strategy that would put her in a lower tax bracket?  

James explores some often-overlooked tax strategies that can save retirees thousands in retirement, especially for those like Jodie with diverse portfolios.

Questions answered:
How could my home be part of my tax strategy?
How can understanding different income sources and account types can help minimize tax burdens in retirement?

Timestamps:
0:00 – Jody’s question
3:54 – The home
7:06 – Inflation and tax thresholds
11:04 – Cash flow vs taxable income
15:07 – Withdrawal strategy
19:30 – Summary

Create Your Custom Strategy ⬇️

Get Started Here.

Most Recent Episodes

October 15, 2024

The Complete Guide to Maximizing Your Social Security Benefit

For many, Social Security makes up a large portion of their retirement income, so it’s important to know how to maximize your Social Security benefit. James explains how Social Security works,...

Listen · 20:19

October 8, 2024

Restricted Stock Units: The Basics of RSUs and How to Use Them

ames responds to a question from Chris regarding restricted stock units (RSUs) and how to avoid costly mistakes when managing them. He explores whether it’s wise to hold onto company stock or...

Listen · 20:00

October 1, 2024

Should We Always Pull From our Brokerage Account First in Retirement? (Hint: No)

Patrick and Mary will soon both be retired. They are curious about what their withdrawal strategy should be as they balance various retirement accounts, including a Pension, IRAs, and a brokerage...

Listen · 26:47

Load More Episodes

James Conole CFP®, Podcaster

James Conole is the founder of Root Financial and the host of the Ready For Retirement podcast and YouTube channel.