White Coat Investor Podcast

WCI #446: Managing Taxes in Retirement with Sean Mullaney

7 snips
Nov 20, 2025
Guest
Sean Mullaney
In this discussion, Sean Mullaney, a CPA and author of 'Tax Planning to and Through Early Retirement', shares essential tax strategies for retirement. He explains the five phases of retirement planning, including when to consider Roth conversions and the importance of keeping taxable income low to optimize ACA credits. Sean also tackles topics like Social Security timing, managing RMDs, and the widow's tax trap. His advice encourages proactive planning to enhance financial outcomes while avoiding fear-based decisions.
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INSIGHT

Five Retirement Tax Phases

  • Sean Mullaney divides retirement into five tax-planning phases for married couples: retirement to 65, golden years, 70 to RMD onset, RMDs to first death, and widowhood.
  • Different tax tactics apply in each phase, so planning should shift as you move through them.
ADVICE

Minimize Ordinary Income Pre‑Medicare

  • Keep ordinary income low before Medicare to maximize premium tax credits and other benefits like ACA subsidies.
  • Favor spending taxable accounts first and locate bonds in tax-deferred accounts to reduce yearly ordinary income.
ADVICE

Use Golden Years To Do Tax‑Efficient Roth Conversions

  • In the golden years, use the high standard and senior deductions to do tailored Roth conversions that stay within the 0% LTCG window.
  • Live off taxable accounts while converting up to available deductions to potentially pay no federal tax on conversions.
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