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Ep 102: 7 Pre-Retirement Tax Questions in 2023

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Manage episode 362423250 series 2891513
Content provided by Scott Sierens. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Scott Sierens or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Retirement can come with a lot of tax questions and concerns. From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income, it can be overwhelming. In today’s episode, we’ll break down the 7 tax questions that people approaching retirement are asking.

Here are a few lessons that we’ll discuss in this episode:

  • What are the tax implications of withdrawing money from different retirement accounts? (4:16)
  • Does the taxation of my pension income differ from other forms of income? (6:11)
  • Your Social Security benefits might be taxed. (7:39)
  • How will my taxes change if I move to another state in retirement? (13:47)
  • Should I do a Roth conversion now or wait until retirement? (21:31)

Get your free guide to unlock hidden tax saving opportunities: lifemoneyshow.com/taxes

Want to get in touch?

Web: https://sierensfinancialgroup.com/

Email: office@sierensfinancialgroup.com

Phone: 847-235-6989

Read more and get additional financial resources here: http://lifemoneyshow.com

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

  continue reading

147 episodes

Artwork
iconShare
 
Manage episode 362423250 series 2891513
Content provided by Scott Sierens. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Scott Sierens or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Retirement can come with a lot of tax questions and concerns. From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income, it can be overwhelming. In today’s episode, we’ll break down the 7 tax questions that people approaching retirement are asking.

Here are a few lessons that we’ll discuss in this episode:

  • What are the tax implications of withdrawing money from different retirement accounts? (4:16)
  • Does the taxation of my pension income differ from other forms of income? (6:11)
  • Your Social Security benefits might be taxed. (7:39)
  • How will my taxes change if I move to another state in retirement? (13:47)
  • Should I do a Roth conversion now or wait until retirement? (21:31)

Get your free guide to unlock hidden tax saving opportunities: lifemoneyshow.com/taxes

Want to get in touch?

Web: https://sierensfinancialgroup.com/

Email: office@sierensfinancialgroup.com

Phone: 847-235-6989

Read more and get additional financial resources here: http://lifemoneyshow.com

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

  continue reading

147 episodes

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