E12: 4 Retirement Draining Taxes and How to Avoid Them
In this episode, we’ll discuss the implications of taxes on retirement. We’ll address the biggest question that most people don’t ask, but should be aware of, when putting money away for retirement.
We’ve got a pretty exciting episode for you; it will focus on taxes on retirement. You see, there are various ways that people are taxed while building wealth and when they retire.
So we share some questions to ask yourself to determine which route is right for you. And we’ll bring to light things you must consider and how various strategies can affect taxes on your retirement in the future.
Taxes on Retirement and Ways to Avoid Discussed:
- Retirement wealth vehicles and options
- Whole Life Insurance
- Stock Market Investments
- Pension Plans
- Real Estate
- How your lifestyle may have to be reduced in retirement because of unexpected taxes
- The myth of being placed in a lower tax bracket upon retirement
- The reality of how much you’ll need to live on in retirement
- The deductions you’ll keep and lose
- The future of Social Security
- The effect of income on Social Security taxation
- The effect of income on Medicare premiums
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