5 Critical Tax Planning Strategies for Your Retirement: Roth Conversions and Beyond

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Today, Kyle Hammerschmidt dives deep into the crucial topic of tax planning for retirement, focusing on Roth conversions, tax diversification, and essential strategies for those within 10 years of retirement. Tax planning is a vital, yet often overlooked, part of retirement preparation. By understanding how to manage your taxes effectively, you can save thousands and ensure you’re not leaving money on the table.

In this video, we’ll explore:

- Tax Diversification
- Roth Conversions
- Timing Roth Conversions
- Integrating Roth Conversions into Your Overall Strategy
- Potential Pitfalls to Avoid
- Bonus Section

By the end of this podcast, you’ll have a clear understanding of the five key aspects of tax planning that could significantly impact your retirement. Don’t let tax inefficiencies eat into your hard-earned savings—learn how to optimize your tax strategy today!

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Time Stamps:

00:43 - Introduction to Tax Planning and Its Importance
02:19 - Understanding Roth Conversions
04:32 - Timing Your Roth Conversions
06:49 - Integrating Roth Conversions into Your Tax Strategy
09:14 - Pitfalls to Avoid in Tax Planning
11:39 - Bonus Section: Roth Conversions After Age 73

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Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.