Pre-Retirement Tax Planning: Things to Know to Save Big in Retirement

Retirement tax planning should begin well before retirement. Listener Jodie, with over $2 million in assets in various types of accounts, is concerned about the high tax bracket she anticipates she be in in retirement. Is there a tax strategy that would put her in a lower tax bracket? James explores some often-overlooked tax strategies that can save retirees thousands in retirement, especially for those like Jodie with diverse portfolios. Questions answered: How could my home be part of my tax strategy? How can understanding different income sources and account types can help minimize tax burdens in retirement? Timestamps: 0:00 - Jody’s question 3:54 - The home 7:06 - Inflation and tax thresholds 11:04 - Cash flow vs taxable income 15:07 - Withdrawal strategy 19:30 - Summary Create Your Custom Strategy ⬇️ Get Started Here. Join the new Root Collective HERE!