Tax strategy is the most overlooked aspect of financial planning, yet it could save you thousands over your lifetime by minimizing your total tax burden rather than just focusing on this year's bill.
• Roth conversions let you pay taxes at potentially lower rates now to avoid higher taxes later in life
• Asset location matters – keep growth investments in Roth accounts and more conservative assets in brokerage accounts
• Health insurance premium planning can drastically reduce your healthcare costs through ACA subsidies
• Capital gains harvesting allows married couples to realize up to $96,700 in gains tax-free each year
• The standard deduction adds another $30,000 of tax-free money, meaning you could potentially generate $126,700 with zero tax liability
If this was helpful, please reach out at ari@rootfinancialpartners.com. If you'd like a custom strategy, you can apply to work with Root Financial Partners. For those 5-10 years from retirement, check out the Early Retirement Academy for software, courses and tools to help you prepare.
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Ari Taublieb, CFP ®, MBA is the Chief Growth Officer of Root Financial Partners and a Fiduciary Financial Planner specializing in helping clients retire early with confidence.
