End of Year Tax Planning and Tax Free Income Sources in Retirement

Have you prepared for a tax-free retirement?

At the end of the day, there are four ways we can generate tax-free income in retirement. Why is this important? Because no one wants to pay more tax than they need to. Quite often when clients come into my office, a majority of their wealth, if not almost all, is in qualified and pre-tax accounts.

In this episode of The Chris Berry Show, I’ll talk about how to craft a tax-free retirement, and how to avoid some of the worst scams that can deplete your nest egg.

In this episode, you’ll learn…

  • Chris’ positive focus for the week.
  • The ways you can maximize taxes with end of year tax planning.
  • The four sources of tax-free income in retirement.
  • How to use Roths to generate tax-free income.
  • How life insurance can become an asset account.
  • How to utilize a 529 plan to grow money tax free.
  • Why “Buy term and invest the rest” is an oversimplification.
  • Situations where Social Security can be tax-free income.
  • Retirement scams you need to be aware of.
  • How scammers are changing the old IRS scam with mailed letters.
  • How investment scams can devastate your retirement.
  • How trusts can protect you during retirement.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

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