Stop Paying RMD Taxes: How To Avoid Costly RMD Mistakes
09/25/24 • 11 min
No one wants to pay taxes - not before retirement, and certainly not IN retirement.
Today we are going to talk about Required Minimum Distributions and how to minimize the tax consequences of those RMDs.
The truth about taxes in retirement is very different from what we are led to believe online...
It’s very easy to feel like there is a “tax bomb” somewhere in your future.
It would be reasonable for that “tax bomb” to instill fear in you.
But the reality is that fear - especially when it comes to taxes - often leads to decisions with consequences that we may not always be clear about.
I'm going to illustrate this using a story.
If you found this episode helpful, subscribe so you don't miss any future episodes.
Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.
Eric Amzalag, CFP®, RICP®
_ _
Want help with your Retirement Plan?
Email me: [email protected]
#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity
No one wants to pay taxes - not before retirement, and certainly not IN retirement.
Today we are going to talk about Required Minimum Distributions and how to minimize the tax consequences of those RMDs.
The truth about taxes in retirement is very different from what we are led to believe online...
It’s very easy to feel like there is a “tax bomb” somewhere in your future.
It would be reasonable for that “tax bomb” to instill fear in you.
But the reality is that fear - especially when it comes to taxes - often leads to decisions with consequences that we may not always be clear about.
I'm going to illustrate this using a story.
If you found this episode helpful, subscribe so you don't miss any future episodes.
Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.
Eric Amzalag, CFP®, RICP®
_ _
Want help with your Retirement Plan?
Email me: [email protected]
#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity
Previous Episode
How Much Should I Pay My Advisor? 1% vs Fee Only
In today’s video I’m going to do my best to address what might be the most frequently asked question when hiring a financial advisor - how much should I pay?
I am a Certified Financial Planner and Owner of an Independent Financial Planning Firm, and every year, we help retirees build robust retirement plans that match their life goals.
Despite the fact that I myself AM a financial advisor, and therefore am undoubtedly biased in this evaluation,
I believe there are many routes to financial and retirement success - and many of those routes DO NOT require hiring a paid, professional financial advisor.
But if you are in the position where you may want the help of a paid professional, it can be a truly daunting task to understand if you’re getting the value that you are paying for.
In this video not only are we going to walk through how to identify whether or not you should hire a professional paid financial advisor, we are also going to compare and explain the different fee structures within which financial advice can be obtained.
If you found this episode helpful, subscribe so you don't miss any future episodes.
Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.
Eric Amzalag, CFP®, RICP®
_ _
Want help with your Retirement Plan?
Email me: [email protected]
#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity
Next Episode
The #1 Sign You Can Retire Earlier Than You Think
People who are in a good place to retire often do things that others do not - knowingly or unknowingly.
See, retirement is all about having plans in place.
Proactive plans that tell you what you SHOULD do.
But also REACTIVE plans that tell you what to do in case of an emergency.
These REACTIVE plans are what you rely on when one of your proactive plans goes wrong.
The group of people who are unknowingly in a good position to retire early are frequently there because they have been better about preparing their PROACTIVE plans.
If you found this episode helpful, subscribe so you don't miss any future episodes.
Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.
Eric Amzalag, CFP®, RICP®
_ _
Want help with your Retirement Plan?
Email me: [email protected]
#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/navigating-the-retirement-risk-zone-397031/stop-paying-rmd-taxes-how-to-avoid-costly-rmd-mistakes-74740014"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to stop paying rmd taxes: how to avoid costly rmd mistakes on goodpods" style="width: 225px" /> </a>
Copy