Taxation in Retirement Income I Ep:055

Where will your retirement income come from, and how will it be taxed? This is a crucial question every retiree needs to understand.

A client recently shared an intriguing Instagram post that highlighted how the average American retires at 64 and may only enjoy about 12 years of good health in retirement. This sparked a discussion about the importance of investing in health alongside financial assets.

Your health significantly impacts your retirement income strategy. A mix of taxable, tax-deferred, and tax-free accounts allows you to control your taxable income each year, helping to manage expenses like Medicare surcharges and tax brackets.

Timestamps:

03:01- Invest in your health.

05:46- Retirement income sources and taxes.

10:36- Roth IRA tax benefits.

14:03- Tax-efficient withdrawal strategies.

18:01- Real estate and income taxation.

20:55- Managing retirement income taxes.

✅Contact Thatcher at [e-mail] with comments and questions!

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DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.