If you’re approaching retirement and have a high net worth, you could also have a staggering potential tax bill if conventional wisdom is followed.

We’re going to break down the intricate strategies and solutions that can help you save millions in taxes, ensuring your hard-earned wealth remains in your family's hands. From optimizing your distribution strategy to understanding the nuances of Roth conversions, we provide valuable insights to safeguard your financial future.

Don't let taxes erode your savings—empower yourself with the knowledge and strategies to secure your financial future.

🏃🏻 Jump right in:
00:53 Significant Tax Challenges You Should Know About
01:16 The Base Parameters of this Scenario
01:59 The First and Second Steps When Planning for Retirement
03:38 The First $6 Million in Taxes Due: Income Taxes
05:59 Questions to Work Through to Estimate Potential Costs
08:37 How The Composition of Your Accounts Can Create More Tax Problems
12:09 The Next $4 Million in Taxes Due: Estate Taxes
13:41 Another $3.6 Million in Taxes Due: The Secure Act 2.0 on Inherited IRAs within 10 Years of the Original Owner’s Death
15:20 A Few Key Strategies to Avoid Owing $13.6 Million in Taxes
20:26 Final Numbers on How Much You Can Potentially Save in Taxes, and Leave to Children With These Strategies

Livestream mentioned: https://youtube.com/live/yR4A1XTBO54?...

#taxplanning #retirementstrategies #rothconversions

➡️ Do you need a Retirement Success Plan that goes beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at (877) 404-0177 or fill out this form for a free consultation: https://click2retire.com/60-with-5-mi...

🍿 I'm 62 with $2 Million:    • I’m 62 with a $2 Million IRA, $700k i...  

💭 Have questions or specific scenarios you'd like us to explore in future videos? Leave a comment below, and we may feature it in an upcoming episode. Your feedback is invaluable to us!

🎥  Subscribe to our channel for more content like this! https://click2retire.com/subscribe

✉️ Sign up to receive our monthly retirement email series here https://click2retire.com/yt-newsletter

Disclaimer:
This video discusses fixed-income investing and utilizes the 10-year U.S. treasury as a general representative fixed-income investment. Conclusions reached, opinions stated, and downside risks and potential returns presented should not be construed as applying to other types of bonds or fixed-income assets. Other types of fixed-income products carry different levels of risk and return potential and should be evaluated as an element of a diversified portfolio with your specific risk tolerance, investment objectives, and timeline in mind. Nothing in this video is investment advice, an investment recommendation, or an offer to buy or sell any security. Investing involves risk.