Episode 16: "What Taxes Will I Have to Pay in Retirement" Part 3

In this third installment in our series on Taxes in Retirement, Tom helps answer the question “What taxes will I have to pay in retirement?” He walks you through the reasons taxes have become such an issue, how certain financial choices can affect your tax liability in retirement, and how things like Roth Conversions can potentially minimize your taxes and enable you to ease into retirement. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇   TIMESTAMPS 00:00 What taxes will I have to pay in Retirement. 07:10 How taxes have become an issue for people in retirement. 09:30 The difference between regular IRAs/4o1Ks and Roth IRA/ROTH 401Ks 14:14 How taxes change & the importance of managing them in retirement correctly. 18:15 The future of taxes. 20:50 Why some advisors don’t want to do ROTH conversions. 24:11 Roth Conversions before 59 ½. 28:00 Ideal time to do Roth Conversions 59 ½ and 73. 35:20 Roth Regrets 41:13 Key Steps: Determine Adjusted gross income                              44:12 Real life example of taxes with regular IRA vs. ROTH IRA 49:57 Info on how to get help. Have specific questions for Tom and the team at Mosley Wealth Management? Contact us here 👇 https://mosleywealthmanagement.com/contact/   =========================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1 ===========================================   ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement - Instagram: https://www.instagram.com/easeintoretirement/ - LinkedIn: https://www.linkedin.com/company/mosley-wealth-management   #RetirementTaxes #TaxesinReitrement #RetirementIncome #RetirementPlanning #RetirementStrategy #FinancialEducation #FinancialLiteracy #HowToRetireEarly #RetirementPlanningAt50 #RetirementPlanningAt60 #HowMuchDoINeedToRetire #HowToRetireEarly #RetirementPlanningTips #FinancialAdvisor #SocialSecurity DISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766  Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the particular needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.

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