Tax

Proactive planning is your best defense against unwelcome surprises in retirement. By understanding these five key factors, you can build a more resilient financial foundation and enjoy a more fulfilling next chapter.

Minimizing taxes is a worthy goal, but is it worth sacrificing other priorities?

Primarily, the tax affects those with higher incomes, including anyone still working or receiving substantial retirement income.

You want to minimize the money you owe Uncle Sam, and Net Unrealized Appreciation (NUA) is just one of many strategies that can help you do so.

While you aren’t faced with many major changes for 2024, tax shifts are on the horizon for 2026 as the Tax Cuts and Jobs Act (TCJA) is set to expire. Don’t let these low tax years pass you by without intentional tax planning.

Tax-loss harvesting is an incredibly powerful wealth-building tool when used properly, but it must be done intentionally.

If you are at all charitable-minded, you should leverage the variety of options available to maximize your tax deductions, allowing you to be even more generous with your wealth.

To create a “tax alpha” retirement plan, your focus should be on leveraging tax-saving strategies that maximize your after-tax returns.

You often hear of the benefits of Roth conversions during your working years, but when carried out during retirement, they can also help you enhance your income options, manage tax situations and support your estate planning goals.

You have much to gain from tax-loss harvesting during volatile times, but even amidst the market’s 15 percent increase year-to-date, tax-selling opportunities still exist. Bonds in particular have underperformed and could be offset by gains elsewhere.

Planning for retirement involves asking the big questions, such as: How do I protect and grow my savings? Or, do I have enough? Beyond this, however, you have other factors to consider, both financial and non-financial.

If you want to minimize the dollars you owe Uncle Sam, it’s crucial to focus on limiting your long-term tax liability, versus only minimizing taxes in the current year.