FPF 176 - The 3 Biggest Tax Mistakes Retirees Make

It’s not just what you earn—it’s what you keep.

In this episode of Financial Planning Friday, Jerry Davidse breaks down the "silent wealth killers" in retirement: Taxes. While investment returns get all the headlines, tax planning is often where the battle for long-term wealth is actually won (or lost).

Jerry walks through the three most common tax mistakes retirees make—from mismanaging RMDs to accidentally triggering higher Medicare premiums—and explains the strategies you need to protect your hard-earned savings.

We discuss:

0:00 - Intro: It’s not just what you earn, it’s what you keep

0:36 - Mistake #1: Waiting too long to address RMDs

1:15 - The "Gap Years": When to do Roth Conversions

1:55 - Mistake #2: Accidental Medicare Premium Hikes (IRMAA)

2:30 - Mistake #3: Withdrawing from the wrong accounts

3:10 - Summary & How to get a Tax Plan Review

Smart tax planning is about strategy, not just compliance. By acting early to avoid the RMD Trap, you can prevent forced tax spikes later in life. Careful timing also helps you steer clear of the Medicare Cliff, ensuring you don’t accidentally trigger higher premiums. Ultimately, Sequence Matters—pulling from the right accounts in the right order doesn't just lower your tax bill; it helps your money last a lifetime.

#RetirementPlanning #TaxPlanning #RMDs #RothConversion #Medicare #FinancialPlanning #WealthManagement

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Connect With Jerry:

Jerry Davidse, CFP®

CEO, Presilium Private Wealth

Email: [e-mail]

LinkedIn: https://www.linkedin.com/in/jerrydavidse/

Meet Jerry: https://www.presiliumpw.com/team_member/jerry-davidse-cfp/#bio

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The content of this Video is provided solely for your personal use and shall not be deemed to provide access to any particular transaction or investment opportunity. Presilium Private Wealth does not intend the information in this Video to be investment advice, and the information presented in this Presentation should not be relied upon to make an investment decision.

Any third-party information contained herein was prepared by sources deemed to be reliable but is not guaranteed. Investment advisory services are offered through Presilium Private Wealth, a SEC Registered Investment Adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser or investment adviser representative has attained a particular level of skill or ability. Additional information about Presilium Private Wealth is also available on the SEC’s website at www.adviserinfo.sec.gov.