The Tax-Efficient Way To Simplify Your Retirement

Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)

Ari Taublieb, CFP®, MBA

Entrepreneurship, Investing, Business, Careers, How To Retire, Retirement Planning, Stock Investing, Real Estate Investing, Retirement, Personal Finance, Save On Taxes, Early Retirement

4.7 • 585 Ratings

🗓️ 20 November 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

-> Create Your Custom Strategy To Retire Early Here's a promise: you're about to unlock the secrets to maximizing your retirement savings across multiple accounts, all while maintaining tax efficiency. Ever wonder how to manage investments spread across Vanguard, Fidelity, and Schwab? Look no further. Join us as we delve into the complexities of coordinating these diverse accounts, discussing the potential pitfalls and the importance of tax-savvy decision-making. We’ll also tackle a liste...

Transcript

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0:00.0	I'm going to guess that you don't just have one account. Most people that are reaching out have a
0:04.8	401k, maybe a Roth IRA, sometimes a brokerage account. It totally depends. And what we're going to
0:10.2	get through today is how to be tax efficient when you're trying to coordinate all of these
0:15.0	different accounts when moving into retirement. So that is what we're going to talk about today.
0:19.5	And I am very excited. I am going to go
0:21.7	through a quick review of the week, and this is going to come from someone who sent me this email.
0:26.4	They wish to be remained anonymous, so I will keep it that way. They told me, I didn't know what to
0:32.3	do about my health insurance and thought about maximizing my subsidy until I heard your podcast
0:37.1	on Roth conversions. Thank you for
0:39.1	teaching me about the risk can. Now, if you don't know the risk can analogy, and I do a lot of
0:44.7	these analogies, which I try to keep not silly, but sometimes intentionally silly so that you
0:49.4	guys all remember them, but we all have risk. And when you walk outside, there's a risk that you get
0:54.1	hit by a car. Not a fun risk to think about, but it's the truth. And when you walk outside, there's a risk that you get hit by a car.
0:54.8	Not a fun risk to think about, but it's the truth. You have the same thing with your tax plan.
0:59.5	And so what that means is you could say when your income is really low, that you want to
1:04.0	intentionally keep your income low. So what this listener is saying is they thought about when
1:09.0	they retired and their income was going to be very low
1:11.6	to intentionally keep it low because then you can qualify for subsidies and for health care purposes
1:17.0	that was their plan now when they talk about the risk can what they're doing is they're just
1:21.5	kicking that can think about like a soda can they're just kicking that risk can down the road
1:26.2	because later because they saved and invested well they're going kicking that risk can down the road because later, because they saved
1:28.1	and invested well, they're going to have significant RMDs. And so they ask themselves, okay,
	...

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