So you’re 60 years old and have been able to save $2 million for retirement, but you’re wondering how much of that money you’ll be able to keep after taxes. People ask us all the time how they can reduce the amount they’ll have to pay to the IRS over their lifetime.

In this episode, we’ll take you through a sample case with a hypothetical couple in a similar position and show five ways in which they could potentially reduce taxes in retirement. This will allow them to keep more of their hard-earned money in their pockets, which will give them more flexibility in retirement.

Here’s some of what we discuss in this episode:
0:00 - Intro
0:42 – Sample case details
5:40 – Tax projections
13:20 – Strategy #1 – Contribute to a Roth
14:38 – Strategy #2 – Roth Conversions
18:08 – Strategy #3 – Asset Location
20:51 – Strategy #4 – Delay Social Security
22:23 – Strategy #5 – Donor Advised Fund

#taxplanning #retirementplanning

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