The Five Financial Stages of Life & A Big Year Ahead in Taxes - March 1, 2025

In this episode of the Common Sense Investing Show, Steve Ringo sits in for Victor McClure to shed light on the vital topic of taxes as we approach the potential expiration of the 2017 Tax Cuts and Jobs Act. Steve dives into what these changes could mean for individuals nearing or already in retirement, discussing the substantial impact on required minimum distributions, investment withdrawals, and estate planning. He offers strategic advice on maximizing deductions, considering Roth conversions, and optimizing income sources to ensure you're prepared for any potential tax hikes.

Midway through the episode, Steve shifts the focus to President Trump's proposed tax reforms, which include eliminating taxes on social security, tips, and overtime pay. These changes, if enacted, could provide significant relief for retirees. Steve also emphasizes the importance of having a robust retirement plan in place, highlighting the risks of waiting until tax hikes are official. The episode rounds off with practical advice on proactive tax planning, ensuring you feel confident and well-prepared for the financial challenges ahead. Tune in to get valuable insights on securing your financial future amidst a changing tax landscape.


For more information about Victor McClure, Steve Ringo and the McClure Capital team, visit https://mcclurecapital.com/