Tax Mistakes Retirees Make And How to Avoid Them

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Retirement planning isn’t just about saving enough; it’s about managing your taxes effectively to keep more of what you’ve worked hard for. Many retirees make common tax mistakes that can end up costing them more than they anticipated. Anthony discusses the most common tax mistakes retirees make and provides practical tips to keep you on track and make sure your retirement savings last.

Here’s some of what we discuss in this episode:

💵 RMDs and Early Planning: Plan ahead for Required Minimum Distributions to avoid tax surprises

🔄 Roth Conversions and Tax Brackets: Convert strategically to stay within a favorable tax bracket

💰 Social Security Taxation: Taxes on Social Security benefits can surprise you. Plan ahead

👨‍👩‍👧‍👦 Planning for Spouses and Heirs: Consider how your tax planning affects your spouse or heirs after you pass

🧠 Tax Strategy: Proactive tax planning today can save you in the future

0:00 – Intro

1:14 – Plan for RMD

4:06 – Roth conversions

7:48 – Social Security

10:47 – Planning for spouses and heirs