Episode 186: How to Build a Retirement Plan That Lasts (and Saves on Taxes)

In this episode of Retire with Style, Alex Murguia and Wade Pfau answer listener questions on retirement planning for high earners. They explore tax strategies like Roth conversions and qualified charitable distributions, and discuss how tools like life insurance and annuities can help hedge longevity risk and support a stable retirement income.

 

Takeaways

• The importance of community engagement in retirement planning.
• High earners face unique tax challenges and strategies.
• Qualified charitable distributions can help manage tax implications.
• Roth conversions can be beneficial for reducing future RMDs.
• Understanding the widow's penalty in retirement planning is crucial.
• Annuities can provide income stability in later years.
• Life insurance can hedge against the risk of not living long enough.
• The interplay between income sources and tax brackets is complex.
• Gifting strategies can help manage estate taxes effectively.
• Combining life insurance and annuities can optimize retirement income.

 

Chapters

00:00 Introduction and Community Engagement 03:12 Exploring Tax Strategies for High Earners 06:09 Navigating Retirement Risks for Couples 11:49 Hedging Against Longevity Risks in Retirement 28:59 Conclusion and Future Q&A Sessions

 

Links

If you want to better understand how to protect your retirement from bad market timing, don’t miss Retirement Researcher’s free webinar: “Four Ways to Manage Sequence of Returns Risk,” hosted by Wade Pfau happening July 15th, 2025 from 1:00 - 2:00 PM ET. You’ll learn practical strategies to reduce volatility’s impact on your retirement income. Register now at retirewithstyle.com/podcast.

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The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips