Tax season is here, and if you're retired or approaching retirement, your tax situation looks very different than it did during your working years. 

In this episode, Stewart Smith (LUTCF®, RICP®) and Mitch Davies (CFP®) break down the critical tax considerations for the distribution phase of retirement.

Whether you're planning your first year of retirement or you've been retired for years, understanding how taxes work in this phase can help you make more informed decisions about your retirement income strategy.

In This Episode:

• The three tax buckets and why they matter in retirement
• How Required Minimum Distributions (RMDs) affect your tax bracket
• IRMAA: Understanding income-based Medicare Part B premiums
• The standard deduction changes for seniors (and the phaseout thresholds)
• The "tax torpedo" - why one withdrawal can trigger unexpected tax consequences
• The "widow penalty multiplier" and single filer considerations
• Qualified Charitable Distributions (QCDs) for those age 70½+
• Donor-advised funds as a tax-efficient legacy strategy
• Why lifetime tax mapping matters more than year-to-year planning

Key Takeaway: Tax planning in retirement requires looking at the entire retirement timeline, not just the current year. Understanding thresholds, phaseouts, and the interplay between different income sources can help you avoid costly mistakes.

This episode is educational in nature and not intended as tax, legal, or investment advice. Please consult with qualified tax and financial professionals regarding your specific situation.

Connect with ClearPath Retirement: Website: ClearPathRetirement.com Location: Greenville, South Carolina Listen: Saturdays at 10 AM on Upstate Red AM 1330

Ready to bring clarity to your retirement?

ClearPath Retirement Planning helps retirees and pre-retirees in the Upstate SC and Columbia areas create tax-efficient retirement income strategies.

📍 300 Executive Center Drive, Suite 104 | Greenville, SC 29615
📞 (864) 775-5033

Schedule your complimentary consultation today at www.clearpathretirement.com

Subscribe & Connect:
🎥 YouTube: @ClearPathRetirementPlanning
👍 Facebook: facebook.com/stewartsmithfinancial

Important Disclosure:

Investment advisory services offered through Alphastar Capital Management, LLC, a SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Clearpath Retirement Planning, LLC and Alphastar Capital Management is not involved in the offer, recommendation, sale or management of commission-based fixed Insurance products. Alphastar Capital Management and Clearpath Retirement Planning, LLC are separate and independent entities. This is for informational purposes only and is not intended as legal, tax or investment advice or ...

Hosts Stewart Smith and Mitch Davies tackle two retirement-planning topics that are often overlooked: how your investment strategy evolves when you shift from accumulation to distribution, and why a living trust might be one of the smartest moves you can make for your legacy.

Drawing from decades of helping retirees and pre-retirees in the Upstate South Carolina area, they break down the three-bucket approach to retirement income, explain sequence of returns risk in plain English, and demystify living trusts—showing you how to protect your assets, avoid probate, and simplify your estate plan.

If you're wondering whether your current investment approach will sustain you through 20-30 years of retirement, or if you've been putting off estate planning because it feels complicated, this episode offers clear, actionable guidance to help you protect what you've worked so hard to build.

In This Episode:

• Why investing in retirement is different than accumulating wealth
• The three-bucket strategy: How to structure assets for different times
• Sequence of returns risk: The hidden danger that could derail your retirement in the first five years
• Why keeping everything in one portfolio may not work when you need income
• Living revocable trusts explained: What they are and why they matter
• How trusts help you avoid probate, protect privacy, and plan for incapacity
• The difference between revocable and irrevocable trusts (and which you  need)
• Real benefits: Simplifying beneficiary designations and streamlining your estate

Timestamps: 
[00:00] Welcome & Introduction to Investment Philosophy Changes 
[01:00] Accumulation vs. Distribution: Why Your Strategy Must Shift 
[03:00] The Three-Bucket Approach to Retirement Income 
[07:00] Understanding Sequence of Returns Risk 
[12:00] Why Market Volatility Matters More in Retirement 
[15:00] Protecting Against Early Losses in Your First Five Years 
[20:00] The Second and Third Buckets: Medium and Long-Term Growth 
[26:00] Living Revocable Trusts: What They Are and Why You Need One 
[31:00] Avoiding Probate and Protecting Your Privacy 
[38:00] Planning for Incapacity: The Hidden Benefit of Trusts 
[44:00] Revocable vs. Irrevocable Trusts: Understanding the Difference 
[50:00] Simplifying Your Estate with the Funnel Approach

Ready to bring clarity to your retirement?

ClearPath Retirement Planning helps retirees and pre-retirees in the Upstate SC and Columbia areas create tax-efficient retirement income strategies.

📍 300 Executive Center Drive, Suite 104 | Greenville, SC 29615
📞 (864) 775-5033

Schedule your complimentary consultation today at www.clearpathretirement.com

Subscribe & Connect:
🎥 YouTube: @ClearPathRetirementPlanning
👍 Facebook: facebook.com/stewartsmithfinancial

Important Disclosure:

Investment advisory services offered through Alphastar Capital Management, LLC, a SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Clearpath Retirement Planning, LLC and Alphastar Capital Management is not involved in the offer, recommendation, sale or management of commission-based fixed Insurance products. Alphastar Capital Management and Clearpath Retirement Planning, LLC are separate and independent entities. This is for informational purposes only and is not intended as legal, tax or investment advice or ...

Welcome to Episode 2 of ClearPath Retirement Radio!

Hosts Stewart Smith and Mitch Davies explore the emotional side of retirement—the often-overlooked psychological transition that can feel like losing your identity, purpose, or daily structure after years of hard work. 

Drawing from decades of helping retirees and pre-retirees in the Upstate South Carolina area, they share real client stories, mindset shifts, and how a confident financial plan reduces anxiety so you can truly retire to a new life full of purpose, joy, and fulfillment.

If you've saved diligently but worry about "what now?" days, guilt around spending, fear of change, or grieving your working identity, this episode offers reassurance and practical guidance on building a richer retirement beyond the numbers.

In This Episode:

• Why many tie self-worth to their career, and how to redefine purpose in retirement
• Retiring to something meaningful: Hobbies, health, relationships, volunteering, and new adventures
• Common emotional hurdles: Identity loss, grief after leaving work, guilt spending savings, fear of running out or retiring too early
• The power of planning: How a solid income strategy frees you mentally to enjoy life without constant worry
• Avoiding "cocktail party advice," fear-driven headlines, and decision fatigue
• Real stories: From anxious market-watchers finding peace to those who retired early and thrived
• Mitch's Market Minute: Market update, small caps leading, big tech shifting to value plays, gold/silver trends, and retiree implications

[00:00] Welcome & Introduction to the Emotional Side of Retirement
[01:00] The Mental Transition: Why It's as Important as the Money
[03:00] Identity & Purpose: Retiring to a New Life, Not Just Away from Work
[07:00] Building Activities, Structure, and Health Ahead of Time
[12:00] How a Real Financial Plan Brings Mental Peace & Confidence
[15:00] Ditching Cocktail Party Advice & Fear Headlines
[20:00] Shifting from Saving to Spending: Permission to Enjoy What You've Earned
[26:00] Mitch's Market Minute: Current Trends & What Retirees Should Watch
[31:00] Don't Delay—Health Is Wealth: Stories & Mindset Tips
[38:00] Keeping Planning Simple to Avoid Overwhelm
[44:00] Greater Purpose, Overcoming Guilt & Grief
[50:00] Retirement as a New Beginning – Next Steps

Ready to bring clarity to your retirement?

ClearPath Retirement Planning helps retirees and pre-retirees in the Upstate SC and Columbia areas create tax-efficient retirement income strategies.

📍 300 Executive Center Drive, Suite 104 | Greenville, SC 29615
📞 (864) 775-5033

Schedule your complimentary consultation today at www.clearpathretirement.com

Subscribe & Connect:
🎥 YouTube: @ClearPathRetirementPlanning
👍 Facebook: facebook.com/stewartsmithfinancial

Important Disclosure:

Investment advisory services offered through Alphastar Capital Management, LLC, a SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Clearpath Retirement Planning, LLC and Alphastar Capital Management is not involved in the offer, recommendation, sale or management of commission-based fixed Insurance products. Alphastar Capital Management and Clearpath Retirement Planning, LLC are separate and independent entities. This is for informational purposes only and is not intended as legal, tax or investment advice or ...

Welcome to the inaugural episode of ClearPath Retirement Radio! Hosts Stewart Smith and Mitch Davies kick off the show by breaking down the most common retirement planning mistakes they see after 24 years of working with retirees in Greenville, Columbia, and the Upstate South Carolina area.

If you've worked hard to build your retirement savings but aren't sure how to turn those assets into reliable income, this episode is for you. 

Stewart and Mitch cut through the confusion and provide clear, actionable guidance on the decisions that matter most when you're approaching or already in retirement.

In This Episode:

• Why retirement is about income planning, not just investment returns
• The biggest Social Security mistake married couples make
• How to create a tax-efficient withdrawal strategy from your retirement accounts
• Roth conversion opportunities you might be missing
• Is Social Security really going away? (The answer might surprise you)
• Healthcare planning and Medicare premium surprises to avoid
• Mitch's Market Minute: What's driving the markets and why uranium is on our radar

 [00:00] Welcome & Introduction to ClearPath Retirement Radio 

 [06:30] Mistake #1: Thinking Retirement Is About Investments, Not Income 

 [15:45] Understanding Withdrawal Order & Creating Your Retirement Paycheck 

 [22:00] Social Security Strategy: When Should You Claim? 

 [28:30] Will Social Security Go Away? What Retirees Need to Know 

 [35:00] Tax Planning: The Roth Conversion Opportunity 

 [45:00] Healthcare Planning & Medicare Surprises 

 [58:00] What Keeps Retirees Up at Night (And How to Get Answers) 

 [66:00] Mitch's Market Minute: AI Infrastructure & Energy Sector Trends 

About ClearPath Retirement:

ClearPath Retirement Planning helps retirees and pre-retirees in the Upstate South Carolina and Columbia areas design comprehensive retirement strategies that address income planning, tax efficiency, Social Security optimization, and legacy planning.

Ready to see what retirement could look like for you?

Visit www.ClearPathRetirement.com or call (864) 775-5033 to schedule your complimentary consultation.

Ready to bring clarity to your retirement?

ClearPath Retirement Planning helps retirees and pre-retirees in the Upstate SC and Columbia areas create tax-efficient retirement income strategies.

📍 300 Executive Center Drive, Suite 104 | Greenville, SC 29615
📞 (864) 775-5033

Schedule your complimentary consultation today at www.clearpathretirement.com

Subscribe & Connect:
🎥 YouTube: @ClearPathRetirementPlanning
👍 Facebook: facebook.com/stewartsmithfinancial

Important Disclosure:

Investment advisory services offered through Alphastar Capital Management, LLC, a SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Clearpath Retirement Planning, LLC and Alphastar Capital Management is not involved in the offer, recommendation, sale or management of commission-based fixed Insurance products. Alphastar Capital Management and Clearpath Retirement Planning, LLC are separate and independent entities. This is for informational purposes only and is not intended as legal, tax or investment advice or ...