Too many unknowing Americans are putting too much of their retirement hopes, dreams, and funds right into the government’s clutches. One simple misstep could cost them thousands. The key is to plan well in advance before withdrawing. According to Forbes, “some taxpayers over seventy-and-a-half can find themselves subject to a fifty five percent marginal income tax rate due to a combination of RMD income, social security benefits, and capital gains.”
Throughout the hour, David elaborates upon the specific entities that we, as potential retirees, can rely on. This includes entities such as: navigating withdrawals, estate planning, RMDs, predicting Wall Street, and what you can expect from CPAs and financial advisors.
Main points touched on in today’s show:
The five most common ways you can crater your 401k
- Implement intelligent strategies that can help you pay fewer taxes on your 401k
- Know the critical role RMDs (Required Minimum Distributions) play in retirement
- Put a stop to hidden fees and expenses
- Learn why your 401k and other retirement accounts need to be treated differently in your estate plan
- By diversifying the ways you pay taxes on retirement funds
*This installment of the David Lukas Show is filled with great information and tips on how you too can pay less taxes in retirement, entire episode here online today! You won’t be sorry that you did!
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