How Do You Become Tax Efficient in Retirement?

People talk all the time about tax efficiency in retirement, but what does that truly mean and why does it matter? It’s much more than a buzzword; it’s a vital strategy for preserving more of your money in retirement.

Today we’re going to explain why tax efficiency matters, the risks of not being tax efficient, and strategies for becoming tax efficient. You’ll be able to learn about different types of retirement accounts, the impact of legislative risk, and how to prepare for potential changes in tax laws. Plus, we’ll explain our Roth conversion analysis tool and how it helps us determine when you want to take advantage of a conversion to help build a tax-free retirement fund.

Tax efficiency isn’t just about saving money. Being proactive about your tax planning now can help secure your financial future.

 

Here’s what we discuss in this episode:

0:00 – Intro

1:55 – Why does this matter now?

4:24 – Tax rate changes

6:26 – Legislative risk

8:38 – Types of accounts and how they’re taxed

12:56 – HSA

14:06 – Actions you can take now

16:58 – Roth conversion analysis

 

Get access to all of our free guides on Social Security, RMDs, Investing, and more: https://www.bowmanfinancialstrategies.com/resources#Guides

Watch all of our educational videos on YouTube: https://bit.ly/3XcNgZE

Book at 20 minute introductory phone call with Erik: https://calendly.com/bfs-2019/web-inquiry-phone-call-with-erik-bowman?month=2024-09

 

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