Minimizing Retirement Taxes: How To Keep More Of Your Hard-earned Money

Thanks much. There is also loss of spouse and then all that income is being taxed as a single tax payer. All kinds of benefits to manage your taxable IRA's. I wish someone had a software program that calculated the "sweet spot". I use a spreadsheet but have to be very careful!

Thank you for your short and informative information. I wish I met you 40 years ago. I am sharing your video with my daughter and Son-inlaw so they do a better job than I did.

Thank you for your explanations. I want to do a backdoor Roth IRA for my spouse. We file married filing jointly. She does not work. My income is under 100K. I can contribute 7K to a Roth IRA in her name. Can I also contribute 20K to a non-deductible IRA in her name and then immediately do a Roth conversion of the 20K to her Roth IRA for a total of 27K? Her IRA currently has zero dollars and this is her only IRA.

I converted my 401k to a Roth IRA to avoid higher taxes in the future. I'd rather pay taxes now than be stuck paying taxes on my retirement income when I'm 59 and living off my savings.

Thank you! Blessings!

I am in Kansas City, will be retiring from work at 70 in 2.5 years. I don't have ton of money but would like to have some financial planning for my accounts and Social Security. Do you work with Missouri residents? If not can you recommend a financial planner in this area?

Thanks for highlighting the impact of taxes on retirement savings! Understanding tax brackets is super important for retirement planning. - Lipika - Team Evan Carmichael

A recent personal realization: The funds in your taxable brokerage and tax deferred accounts are not entirely yours. The government is your not no silent partner, and they will get their share at one point or another. Plan accordingly.

Terrific overview. Missed one gotcha step: Surviving spouse tax jump before beneficiary RMDs.

Yes, how many times have I heard "income in retirement will be lower". Not true. I'm so lucky I maxed out my Roth when working. You have the BEST financial insights and advice.

Nothing to say 😂

Always great information Lane!

Great info. And to think we had a revolt for a 2% tax on tea at one point

I wish I had seen this 10 years ago. I switched to Roth TSP from regular a year ago and wished I had much earlier.

I appreciate your videos

Remember there is no escape 😂 we all F.

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AFTER I BLEW MY ACCOUNT, TRADING ON SPECULATION I MADE A PROMISE NOT TO MAKE THE SAME MISTAKES AGAIN!!!

Wishing I had used the Roth IRA option earlier in my life and had more that’s already been taxed. I would’ve focused there a bit more.