March 04, 2025

Retirement Tax Mistakes that Could Cost You Thousands!

13 minutes

💰 Are you unknowingly making tax mistakes that could drain your retirement savings? In this episode of Early Retirement Roadmap, host Mike Upland breaks down the biggest retirement tax traps and how to avoid them.

📉 Learn how improper IRA and 401(k) withdrawals can push you into a higher tax bracket, trigger unexpected Social Security taxes, and even increase your Medicare premiums. We’ll also cover:

✅ The mistakes retirees make when withdrawing from their retirement accounts

✅ How strategic withdrawals can lower your lifetime tax bill

✅ What you MUST know about Required Minimum Distributions (RMDs)

✅ How to use Roth Conversions and Qualified Charitable Distributions (QCDs) to reduce taxes

✅ Case study: How Bob & Linda lost thousands—and what they should have done instead

Whether you're already retired or planning for the future, these tax-smart retirement strategies can help you keep more of your hard-earned money.

🎧 Listen now to avoid costly mistakes and make your retirement savings last longer!

🔗 Don’t forget to subscribe or follow, rate, and review so more people can benefit from these strategies!

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Disclosure: This is an affiliate link, which means I may earn a small commission at no extra cost to you. It's a simple way to support this podcast and the content I create. Thank you!

✅ FREE Early Retirement Planning Checklist

Whether you're just getting started or refining your plan, this free guide will help you take the next step! Download my free 12-step early retirement planning checklist—a practical, easy-to-follow guide that walks you through everything from calculating your FIRE number to building a tax-efficient withdrawal strategy.

👉 Get your free checklist here: https://payhip.com/b/IBj3q

I created this to help others like you pursue financial independence and retire on your own terms and as a thank you to my viewers. Whether you are years away or almost ready, this checklist will help you retire smarter and sooner and is the perfect companion to everything I share on this podcast.

🎥 When you’re not on the go, check out Mike’s Early Retirement Roadmap YouTube channel for more insights and inspiration.

🌐 Visit MikeUpland.com – Connect with Mike & explore retirement resources

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By Mike Upland

99 ratings