The Hidden Tax Problem Facing “Paper Millionaires”

From The Retirement Solution by Jon Hicks

April 7, 2026 · 12 min

About this episode

Jon Hicks discusses the tax implications for 'paper millionaires' and the importance of planning before cashing out assets in retirement.

You might be a millionaire on paper—and still be unprepared for the tax bill that comes with it. In this episode of The Retirement Solution , Jon Hicks explains how large asset sales, real estate, and tax-deferred accounts can create unexpected tax exposure in retirement. The discussion focuses on “paper millionaires,” depreciation recapture, installment sales, trusts, and why timing and planning matter before cashing out a business, property, or retirement account. The episode highlights how taxes, not investment performance, often become the biggest hurdle when turning accumulated wealth into retirement income.   Schedule your complimentary appointment today: RetirementSolutionShow.com   Follow us on social media: YouTube | Facebook | LinkedIn See omnystudio.com/listener for privacy information.

People in this episode

Host: Jon Hicks

Topics covered

tax planning
retirement income
paper millionaires
asset sales
real estate
tax exposure

Keywords

tax bill
depreciation recapture
installment sales
trusts
retirement accounts
wealth management

Mentioned in this episode

Organizations: RetirementSolutionShow.com