ABOUT THIS EPISODE
A large IRA can feel like a retirement trophy. Until required minimum distributions show up and remind you that the IRS has a co-pilot seat.
In this episode, Ray Godleski breaks down one of the most overlooked tax problems in retirement planning: the IRA tax trap. When a large portion of your savings is in pre-tax accounts, RMDs can push you into a higher tax bracket, increase your Medicare premiums, cause more of your Social Security to be taxed, and create a bigger burden for your surviving spouse and beneficiaries.
You'll learn:
- What RMDs are, when they begin, and how they are calculated
- Why RMDs are taxable income, not just forced cash flow
- How RMDs affect your tax bracket, Social Security taxation, and Medicare premiums
- The inherited IRA 10-year rule and what beneficiaries need to know
- How Roth conversions and qualified charitable distributions can reduce the IRA tax trap
- A 10-step planning checklist to get ahead of RMDs before they become a problem
If you're within a few years of retirement and want clarity around your retirement plan, book a complimentary consultation to build a strategy tailored to you:
Book a Consultation: https://app.greminders.com/e/9bfdfdf70740f21a2e1cec4140dd884dd4ef6365
Tune in and make sure your IRA does not become a tax trap in retirement.
🎙 Follow the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/executive-retirement-compass-financial-planning-to/id1796392113
📧 info@SeWealthPartners.com
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