Episode 14: "What Taxes Will I Have to Pay in Retirement?"

Taxes are the biggest factor that can ruin your retirement. In the first episode of a series on Taxes in Retirement, Tom provides an overview of the taxes you’ll have to pay in retirement and shares insight into the things you can do to start creating a strategy to minimize them. You’ll learn the difference between Non-Qualified and Qualified accounts, how ROTH IRAs play a role in tax savings, and how capital gains effects taxes. Listen now and learn how you can take the steps needed to minimize your taxes and ease into retirement. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 Intro: What Taxes Will I have to Pay in Retirement? 08:10 Taxes can have a huge impact on retirement. 10:04 Know your tax bracket. 14:43 Difference in tax planning and tax preparation 19:32 Qualified vs Non-Qualified Accounts 21:04 ROTH IRA 28:10 Capital Gains Taxes 31:46 Capital Gains – Real life scenarios 34:55 Difference between long term capital gains and short-term capital gains 39:35 Understanding “Step up in cost basis.” Have specific questions for Tom and the team at Mosley Wealth Management? Contact us here 👇 https://mosleywealthmanagement.com/contact/ =========================================== If you enjoy this content, please like & 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! =========================================== ⭐ 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 #RetirementStrategy #FinancialEducation #FinancialPlanningAt50 #FinancialPlanningAt60 #HowDoIRetire #Retirement #RetirementIncome #RetirementPlanning #Investing #FinancialAdvisor #SocialSecurity 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, visit: www.mosleywealthmanagement.com