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Taxes may suck, but your retirement planning doesn't have to! There are strategies that everyone should consider that could benefit you when it comes to the daunting topic of taxes and wealth transfer. We’ll tackle the topic today with humor, clarity, and actionable advice.
Learn how to leverage after-tax accounts, avoid common IRA traps, and why starting your tax planning at retirement is crucial. Don't let taxes derail your retirement dreams—arm yourself with the knowledge to fight back and keep more money in your pocket. With the potential transfer of billions from baby boomers to the next generation on the horizon, now's the time to listen in and learn how to protect and grow your wealth.
Here’s what we discuss in this episode:
0:00 – Intro
1:27 – Understand different types of accounts
3:07 – The great wealth transfer
4:02 – 10-year rule for IRAs
7:55 – Converting to a Roth
11:57 – RMDs
14:32 – IRMAA
15:50 – Common IRA traps
Learn more about us: https://www.rwpaul.com/our-firm
Contact Matt & Steve: https://www.rwpaul.com/contact
Phone: 248-305-9911
Find us on YouTube: https://bit.ly/481OA51
