Navigating Taxes In Retirement: What You Need To Know

Maximize Your Retirement Income: Tips For Tax Planning In Your Golden Years
Financial Fast Lane:
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Martinsen Wealth Management:
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[@FreuleinBey]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[@VivekLuna]

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...

[@FreuleinBey]

@@VivekLuna That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

[@VivekLuna]

@@FreuleinBey My advisor is *MARGARET MOLLI ALVEY*

[@VivekLuna]

You can look her up online

[@ЕленаФирсова-ц6м]

@@VivekLuna The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

[@mustafahamsho5310]

It's a tricky thing to decide just how much detail to get into here, for it seems to be a logarithmic scale. Just a little more detail requires an exponential amount of time devoted to explaining the details. Well done!

[@ninamoreno8116]

❤Best advice as always. Thank you.

[@EvanCarmichael]

Great video! Your guide on navigating taxes in retirement is incredibly useful and easy to understand. -Macy (Team Evan)

[@davidjsouth231]

66% tax increase! Holy BLEEEEEP!

[@Jules-x1984]

Great learning video. I see some people expect the complete assessment for free in KZbin , that's what financial planners are for 😂

[@hollywhiteside2582]

I plan to bite the bullet and do my Roth conversion all at once and bite the tax bullet one time. Irregardless of the tax bracket at that time (I would like to do in 2025 but won’t be 59.5 until 2026), I will know what is left and it can grow tax free throughout my retirement. I would have liked to do the 5- yr conversion at age 55, but didn’t have the capacity to pay taxes out of pocket. I plan to pay the tax bill out of the conversion.

[@FinancialFastLane]

You will be paying some additional unnecessary tax with that approach.

[@matthewowcarz8259]

What about asset location? Can you make a potential tax implications video about best places for asset location?

[@robertkelly6189]

he could, but it would be 4 hours long. 😄

[@matthewowcarz8259]

​@@robertkelly6189😂

[@johnscott2746]

This is incorrect. If the Trump tax code is allowed to expire, then we will go back to standard deduction plus personal exemptions. These will NOT go back to what they were in 2017. The IRS will adjust the figures for 8 years of inflation. Even though the tax brackets will go back to 2017 percentages , the dollar amounts will be adjusted as well. So the taxes may go up but not by $5000.

[@Bondbeer]

Correct and for those of us in high tax states, lifting the $10k limit means we can itemize again and pay even less.

[@patricksterling2730]

A bit of a nit pick here, but I think that 32% bracket you’re showing for 2026 will actually be 33%.

[@BillSmith-c2q]

You would think that the number one performing asset over the last ten years (Bitcoin) would get more air time on your videos.

[@todddunn945]

The video might not have been such a waste of time if you had actually discussed some of the types of tax planning you mention in general.

[@FinancialFastLane]

The purpose of the video was to identify the risk of higher taxes in future years. Sorry you waisted your time.

[@robertkelly6189]

cut these down to 10-12 minutes.

[@FinancialFastLane]

I have people asking me to please make them longer and go into more detail and I have some folks saying make them shorter, hard to please everyone.

[@matthewowcarz8259]

@robertkelly6189 I'm not sure if you realize this, but there's a transcript option for KZbin and you can read through that and skip ahead if you want. Hope this helps.

[@mosijahi3096]

I for one like the details- so thank you 😊

[@deloresdilday3978]

TIME TO MOVE OUT OF US