Tax Strategies in Retirement

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.6 • 1.9K Ratings

🗓️ 19 July 2022

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The good news is that we've accumulated a ton of money. What I find confusing is how to strike the right balance between pre-paying taxes and managing the increased costs, including IRMAA, Social Security taxes and capital gains taxes.

Have a money question? Email us, ask jill [at] jill on money dot com.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Jill on Money Show. It's Tuesday, July 19th, and we're here trying to answer your
0:10.7	financial questions, personal finance, that is. But hey, if you had a big question about inflation
0:16.5	or you're confused about how something in the economy works, happy to help you out. But when we talk
0:21.8	about these things, it's more important to figure out how this impacts you and your life. So if you've
0:27.5	got a question, just go to jillonmoney.com, click the contact us button. Let us know if you'd be
0:33.2	willing to come on the air and Mark arranges for everything else because that's how good he is.
0:38.5	Today we are joined by Sean.
0:40.8	Sean's on the line from Virginia.
0:43.0	Hello, Sean.
0:44.0	How can we help you out?
0:45.5	Hi, Jill.
0:46.4	Hello, Mark.
0:47.4	Yes.
0:48.3	Yeah, thanks.
0:48.9	It's great to talk with you.
0:50.2	I have a problem, which is a problem that's nice to have.
0:53.3	My wife and I have been great savers.
0:57.0	We've assembled a very healthy portfolio. It's about 70% of this is in tax sheltered and about 30% in
1:05.9	taxable account, which is nice in that I think we're good up until the point, Joe, we need to take RMDs,
1:12.7	but that's when the problem occurs because of the healthy amount of money we have in the tax
1:17.5	sheltered, we're going to get hit with a pretty significant tax hit.
1:22.7	And so to me, I think we've got a perfect opportunity for using the Roth conversions during the period
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Audacy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Audacy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.