• #124 - The basics of taxes and tax planning in retirement

  • Nov 7 2024
  • Length: 1 hr
  • Podcast

#124 - The basics of taxes and tax planning in retirement

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  • Summary

  • Andy talks about the basics of what to know regarding taxes and tax planning in retirement. Topics discussed include:

    • What sources of income are taxable vs non-taxable
    • Required Minimum Distributions ("RMDs") from both your own accounts and inherited accounts
    • How to pay taxes in retirement: withholdings vs making estimated payments
    • Gifting tax-efficiently
    • Making charitable donations tax-efficiently
    • Overview of common long-term tax planning strategies:
      • Delaying Social Security and distributing from pre-tax accounts in the interim
      • Roth conversions
      • Tax loss and tax gain harvesting
      • Asset "location" of which investments to hold in which account types


    To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

    Links in this episode:

    • The Rock Retirement Club - here


    • My company newsletter - Retirement Planning Insights
    • Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
    • YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
    • Retirement Planning Education website - www.RetirementPlanningEducation.com
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