Got a Pre-Tax Fortune? Nobody Warns You About the Retirement Tax Bomb - 590
About this episode
The episode discusses the implications of pre-tax accounts on retirement taxes and strategies for managing tax liabilities.
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast 590, Joe Anderson, CFP® and Big Al Clopine, CPA spitball for people with a small fortune sitting in pre-tax accounts turning into a tax bomb. We’ll find out how Roth conversions and careful tax liability management can optimize their retirement income strategy. Eric in California is 72 with nearly four million dollars in pre-tax accounts. How much should he transfer in Roth conversions? Is borrowing against his own house to pay the tax bill brilliant or bonkers? Rick and Kiani hoping they can quit sooner than they think. Mike just hit full retirement age. Should he claim Social Security benefits now or wait until age 70? And finally, Jeff wants to walk away at 59 with a roadmap for aggressive Roth conversions, assuming the tax cliff doesn't get him first. Free Financial Resources in This Episode: https://bit.ly/ymyw-590 (full show notes & episode transcript) Retirement Accounts Guide - free download…
People in this episode
Hosts: Joe Anderson, Alan Clopine
Topics covered
- retirement planning
- tax strategies
- Roth conversions
- financial assessment
- Social Security benefits
Keywords
- pre-tax accounts
- retirement tax bomb
- Roth conversions
- financial assessment
- Social Security
Mentioned in this episode
Organizations: Pure Financial Advisors
Places: California
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