Episode 123: "What Taxes Will I Have to Pay in Retirement"

One of the biggest issues you'll encounter in retirement is taxes! Ugh. While you can't escape taxes entirely, you can minimize your tax burden by understanding what taxes you'll encounter in retirement and the options you have to strategically manage them.🔍𝗝𝗼𝗶𝗻 𝗧𝗼𝗺 𝗶𝗻 𝘁𝗵𝗶𝘀 𝗲𝘆𝗲-𝗼𝗽𝗲𝗻𝗶𝗻𝗴 𝘀𝗲𝘀𝘀𝗶𝗼𝗻 𝗮𝘀 𝗵𝗲 𝘀𝗵𝗲𝗱𝘀 𝗹𝗶𝗴𝗵𝘁 𝗼𝗻 𝘁𝗵𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝘄𝗮𝘆𝘀 𝘆𝗼𝘂 𝗺𝗮𝘆 𝗯𝗲 𝘁𝗮𝘅𝗲𝗱. Learn how Employment, Social Security, and Medicare taxes can impact your golden years. Understand the lurking threat of "Bracket Creep," and how you could be impacted by Capital Gains and Required Minimum Distributions (RMDs). 𝗧𝗼𝗺 𝗽𝗿𝗼𝘃𝗶𝗱𝗲𝘀 𝘃𝗮𝗹𝘂𝗮𝗯𝗹𝗲 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗶𝗻𝘁𝗼 𝗶𝗱𝗲𝗻𝘁𝗶𝗳𝘆𝗶𝗻𝗴 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝘁𝗮𝘅 𝗯𝘂𝗿𝗱𝗲𝗻𝘀 𝗮𝗻𝗱 𝗼𝘂𝘁𝗹𝗶𝗻𝗲𝘀 𝗮𝗰𝘁𝗶𝗼𝗻𝗮𝗯𝗹𝗲 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 𝘀𝗼 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗽𝗿𝗲𝗽𝗮𝗿𝗲 𝗮 𝗽𝗹𝗮𝗻 𝗮𝗻𝗱 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹𝗹𝘆 𝗹𝗲𝘀𝘀𝗲𝗻 𝘁𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝘁𝗮𝘅𝗲𝘀 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗿𝗲𝘁𝗶𝗿𝗲𝗺𝗲𝗻𝘁. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 What Taxes Will I Have to Pay in Retirement 00:22 Unveiling Employment/Payroll Tax 00:55 Beware of the tax bracket jump with Bracket Creep. 01:41 Social Security Taxes 02:12 Medicare Taxes & Two Year Look Back 03:10 Navigating Capital Gains on Stocks, Home Sales, Business Transactions. 04:20 Understanding Required Minimum Distributions (RMDs) Tax implications. 05:10 Recap of Key tax considerations for retirees. 05:35 Solutions to strategically minimize your tax burden. 06:25 How to secure a Tax Report/Plan Have specific questions for Tom and the team at Mosley Wealth Management? Book a complimentary visit or call here 👇 https://mosleywealthmanagement.com/contact/ =========================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄, 𝐥𝐢𝐤𝐞, 𝐨𝐫 𝐬𝐡𝐚𝐫𝐞! ===========================================  ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement - Instagram: https://www.instagram.com/easeintoretirement/ - LinkedIn: https://www.linkedin.com/company/mosley-wealth-management #Retirement Taxes #What Taxes Will I Pay in Retirement #Taxesinretirement #retirementincome #retirementplanning #Bracket Creep #SocialSecurityTaxes #MedicareTaxes #CapitalGainsinRetirement #CapitalGains #UnderstandingRMDs #RequiredMinimumDistributions #investing #SocialSecurity #retirementstrategy #payingtaxesinretirement #socialsecuritytaxesinretirement DISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766 Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the particular needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.  For more information go to: www.mosleywealthmanagement.com