Episode 292: How to Avoid Retirement Tax Traps and Build Generational Wealth

Are you unknowingly setting yourself up for a massive tax bill in retirement?This week on Grow Your Business & Grow Your Wealth, host Gary Heldt welcomes Jonathan Thomas, CFP®, Private Wealth Advisor at LVW Advisors, for a candid look at the hidden pitfalls that can derail even the best retirement plan. Jonathan reveals how overfunding tax-deferred accounts, ignoring liquidity, and delaying estate planning can lead to unnecessary taxes and lost opportunities. From smart Roth conversion timing to building tax diversification, Jonathan shares the same strategies he uses with high-net-worth families to create lasting financial confidence. You’ll also hear why independent advisors can offer more flexible, client-first solutions and how small shifts in your financial plan today can open doors for early retirement, charitable giving, and true generational wealth. Key Takeaways:→ The #1 retirement mistake that could raise your future tax bill→ Why liquidity and diversification are essential for business owners→ How to use Roth conversions and tax-smart planning for lifelong savings→ The overlooked importance of estate planning, wills, and term life insurance→ Simple, practical steps every young family can take to secure their financial future→ Quote from Jonathan Thomas:"I like to make the complicated really simple for people—because once they understand it, they feel at ease and realize they can retire earlier than they ever thought possible."→ Connect with Jonathan:🌐 LVWAdvisors.com Learn more about your ad choices. Visit megaphone.fm/adchoices