November 23, 2019
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
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