Retirement Answers Today

Tax Breaks for Retirees: How to Plan Like the Wealthy


Listen Later

In this episode, financial advisors and retirement planners Jim Martin & Casey Three-Point Bibb discuss how taxes can often be the largest expense for retirees and what can be done to mitigate their impact. The conversation covers common tax pitfalls, strategic use of tax-deferred accounts like IRAs and 401(k)s, and effective strategies such as Roth conversions, tax-efficient withdrawal plans, and Qualified Charitable Distributions (QCDs). The hosts provide actionable insights and highlight the importance of working with a tax-aware financial advisor. The show concludes with answers to listener questions about managing old 401(k)s and handling market volatility in retirement.


http://retirewithmartin.com/ <- Learn about working with us

www.planwellretirehappy.com


00:00 Introduction to Retirement Taxes
01:10 Understanding Tax Pitfalls in Retirement
01:42 Welcoming Casey to the Show
02:38 The Reality of Tax Deferred Accounts
05:52 Strategies to Lower Your Tax Bill
06:04 Roth Conversions Explained
07:40 Tax Efficient Withdrawal Plans
09:57 Qualified Charitable Distributions (QCDs)
11:35 Harvesting Tax Losses
13:07 Common Financial Planning Mistakes
13:22 Strategic Filing for Social Security and Medicare
14:23 The Butterfly Effect in Financial Planning
15:48 Using Tax Calculators and Projections
18:11 Finding the Right Financial Advisor
20:13 Listener Q&A: Managing Old 401(k)s
22:09 Listener Q&A: Market Volatility Concerns
23:14 The Three Pointer Story
24:32 Conclusion and Final Thoughts



Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

...more
View all episodesView all episodes
Download on the App Store

Retirement Answers TodayBy Jim Martin & Casey Bibb

  • 4.5
  • 4.5
  • 4.5
  • 4.5
  • 4.5

4.5

22 ratings


More shows like Retirement Answers Today

View all
Sound Retirement Radio by Jason Parker

Sound Retirement Radio

443 Listeners

Your Money, Your Wealth by Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

Your Money, Your Wealth

756 Listeners

Jill on Money with Jill Schlesinger by Audacy

Jill on Money with Jill Schlesinger

1,922 Listeners

The Retirement and IRA Show by Jim Saulnier, CFP® & Chris Stein, CFP®

The Retirement and IRA Show

730 Listeners

Retirement Answer Man by Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Retirement Answer Man

1,293 Listeners

Retire Sooner with Wes Moss by Wes Moss

Retire Sooner with Wes Moss

431 Listeners

Retirement Starts Today by Benjamin Brandt CFP®, RICP®

Retirement Starts Today

488 Listeners

Big Picture Retirement® by Devin Carroll, CFP® & John Ross, JD

Big Picture Retirement®

490 Listeners

Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

Stay Wealthy Retirement Podcast

547 Listeners

The NewRetirement Podcast by Steve Chen

The NewRetirement Podcast

184 Listeners

Retire With Purpose - The Retirement Podcast by Casey Weade

Retire With Purpose - The Retirement Podcast

543 Listeners

Ready For Retirement by James Conole, CFP®

Ready For Retirement

764 Listeners

Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance) by Ari Taublieb, CFP®, MBA

Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)

33 Listeners

Retirement Planning Education, with Andy Panko by Andy Panko

Retirement Planning Education, with Andy Panko

696 Listeners

Retirement Answers by Jacob Duke, CFP®

Retirement Answers

95 Listeners