The first year of retirement can feel a bit clunky. You’re likely not entirely in a low-income bracket yet, as you may still have some income coming in this year—possibly including a PTO payout. On top of that, you’ll need to figure out health insurance, determine how to pay for it, and, of course, tax plan around these issues.In this episode, we break down a real-life example of how this type of planning plays out.
Key Topics:
A Case Study on Early Retirement (00:00) How Do Homer and Marge Sample Live off Their Portfolio and What Does Tax Planning Look Like? (03:29) The Rule of 55: Taking Money out of 401k with No Penalty (05:58) Using an Affordable Care Act (ACA) Policy and Tax Savings (06:45) Strategically Incurring Capital Gains (Buy, Borrow, Die) (10:00) Wrap Up: Utilizing Different Buckets to Fund Your Retirement and Keep Taxable Income Low (14:18)This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: https://mdrnwealth.com/blog/
If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: https://www.mdrnwealth.com
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