#124 - The basics of taxes and tax planning in retirement

Retirement Planning Education, with Andy Panko

Andy talks about the basics of what to know regarding taxes and tax planning in retirement. Topics discussed include:

• What sources of income are taxable vs non-taxable
• Required Minimum Distributions ("RMDs") from both your own accounts and inherited accounts
• How to pay taxes in retirement: withholdings vs making estimated payments
• Gifting tax-efficiently
• Making charitable donations tax-efficiently
• Overview of common long-term tax planning strategies:
  • Delaying Social Security and distributing from pre-tax accounts in the interim
  • Roth conversions
  • Tax loss and tax gain harvesting
  • Asset "location" of which investments to hold in which account types

To send Andy questions to be addressed on future Q&A episodes, email [e-mail]
Links in this episode:

• The Rock Retirement Club - here

• My company newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com