Retirement Ready - Common Pre-Retiree Tax Mistakes

Common Pre-Retiree Tax Mistakes

09/21/23 • 12 min

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Let’s talk about the different tax mistakes retirees are prone to make. Between changing rules and a lot of financial documents to manage, you’ll want to avoid these tax mistakes. Eric talks us through where people get tripped up and why. What you pay in taxes can make a significant impact on your nest egg, so be sure to work with a financial profes-sional who can help you navigate them in retirement.

Here are the tax mistakes we discuss today:

• Forgetting the required minimum distribution.
• Not understanding Social Security taxation.
• Overlooking tax deductions.
• Not utilizing tax-advantaged accounts properly.

Get in touch with the Peterson Financial team: https://petersonfg.com/

Here are the tax mistakes we discuss today:

• Forgetting the required minimum distribution.
• Not understanding Social Security taxation.
• Overlooking tax deductions.
• Not utilizing tax-advantaged accounts properly.

Get in touch with the Peterson Financial team: https://petersonfg.com/

Previous Episode

What Is Your Financial Personality?

What kind of personality do you have when it comes to money? Before you put together a financial plan, it’s important to understand the way you think and approach money. We talk through a few different personalities Eric commonly sees and how he advises them. Whether you are spending whenever you get a good excuse to or more of an intentional spender, it’s good to be cognizant of how you handle it and what possible downfalls you may face.

Here are the spending personalities we talk about today:

The emotional spender.
The YOLO spender.
The savvy spender.
The miser.

Get in touch with the Peterson Financial team: https://petersonfg.com/

Next Episode

What to Know About Retiring Today

When you work with a financial advisor, you aren’t just talking about money. Saving for your retirement also includes thinking about what kind of retirement lifestyle you want to have and what you need to keep in mind for the long-run. Do you want to work, by choice? What kinds of expenses will you have and how are they different in retirement? Is your money going to last for 30 years of retirement? Eric has seen his clients through all of these decisions and shares what to keep in mind about retirement.

Here’s what to consider before you retire:

• Some choose to work well into retirement.
• How will your spending habits change?
• You may still be helping with older or younger generations.
• Your retirement funding probably needs to last for decades.

Get in touch with the Peterson Financial team: https://petersonfg.com/