The Importance of Having a Retirement Income Plan and Guardrails

Tax season is here so when I found this article from Morning Star to share some tax tips for you. Your tax bill will be the largest bill you pay in retirement. If you want to reduce it, make sure to press play. 

Helping clients save money on taxes and avoid common investment mistakes is an important task for financial planners. If you don’t have a financial planner, that means you are your own financial planner, so you’ll want to take good notes. 

• [1:22] Maximizing tax savings
• [3:30] How to utilize deductions
• [7:45] How to utilize investment strategies
• [11:11] How to utilize Roth conversions
• [13:32] How to know how much to safely spend and how to know if I’m spending too much?

• The Retirement Podcast Network
• Episode 331 - We Need to Talk About Your Retirement Spending
• Episode 332 - A Tax Break Worth the Hassle
• The Retirement Tax Podcast - the least boring tax podcast!
• Morningstar Article

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