Are you nearing retirement and concerned about how much of your hard-earned savings will go towards taxes?
The bad news is that you will almost certainly be paying income taxes throughout your retirement. In fact, it may be one of your largest household bills. The great news is that, with a bit of smart planning, you can manage that tax bill downward based on how and when you make withdrawals from your retirement accounts. In this video, I am going to walk you through an example of how you can strategically time the withdrawals from your investment accounts to lower your tax bill.
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TIMELINE:
0:00 - Introduction
1:23 - Johnny and Janey
2:54 - The Scenario
3:31 - Original Plan
4:35 - Alternative Plan
5:36 - Other Options
7:25 - Closing
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