Retirement income can be subject to taxes depending on the specific type of retirement account or benefit you receive and your tax bracket. Here are a few examples of common types of retirement income and how they may be taxed:
1. Social Security benefits: Social Security benefits are generally taxable if you have other substantial income in addition to your benefits. The amount of tax you pay on your benefits depends on your taxable income and tax filing status.
2. Traditional Individual Retirement Account (IRA) and 401(k) withdrawals: Withdrawals from traditional IRAs and 401(k)s are generally taxed as ordinary income at your current tax rate.
3. Roth IRA withdrawals: Withdrawals from Roth IRAs are generally tax-free if you are over the age of 59 1/2 and you have held the account for at least five years.
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The Golden State won't touch your Social Security, but high rates on pensions and IRAs tell a different story. Can you afford retirement in California?
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My wife and I met with our CPA today to sign our 2025 tax forms. During our conversation, I asked him how much we could convert from my traditional IRA to my Roth IRA, without bumping us into a higher...
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The retirement mindset mentor George Jerjian explains how a second chance at life inspires him to help coach people into retirement. When George Jerjian was 52 years old, he was diagnosed with a bone ...
Or: Why you don't need to keep tax returns from your 20s and 30s.
Can I (61F) defer taking payments from my retirement account when I retire at 65 and start withdrawing when I hit 70? Hubby (76M) has been retired since 65. He wants me to go out sooner but I just can...
Will the SSA send the funds abroad? Or will they direct-deposit only to a US account? Do you have to maintain a physical mailing address in the US of will a rented mailbox be OK? Do any of the answers...
A 401(k) can offer powerful tax advantages, but understanding how contributions, growth, and withdrawals are taxed is essential. Traditional 401(k)s lower your taxable income today, while Roth 401(k)s...
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I retired June 1, 2024. My wife is still working, her planned last day is June 30, this year. Here's a few things I've noticed.... I'm maintaining our 'retirement fund' portfolio at Vanguard in the 60...
A growing number of retirees have been paying federal tax on their benefits. A new $6,000 per person senior deduction reduce taxes for some seniors, but doesn’t change the way Social Security is taxed...
Being a top earner is relative: Why trading a high-tax zip code for a low-cost state is the ultimate retirement power move.
A resilient retirement plan is a flexible framework that addresses income, health care, taxes and investments. And that means you should review it regularly.
What are Trump Accounts? This guide explains new 530A child investment accounts, including eligibility, the $1,000 Treasury deposit and key tax rules.
Retirement is a new lifestyle and there are a number of adjustments that folks go through during this life changing event. On this episode we discuss 5 specific “Must Do's” with the objective of provi...
Your spouse wants to remodel your kitchen and several bathrooms in your house. You’ve received a quote for the work for about $100,000. Using a strategic withdrawal approach and a Monte Carlo modeling...
With the new "senior bonus" hitting bank accounts this tax season, your retirement refund may be higher than usual. Here's how to reinvest those funds for a financially efficient 2026.
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Legacy planning integrates your values and stories with legal and tax strategies to ensure your influence benefits loved ones and good causes after you're gone.
Over the past 150 years, the U.S. stock market (including dividends) has ended the year positively roughly 75% of the years, according to many studies, including one by Visual Capitalist. So if you ...
According to the most recent available data, the IRS collected $5.1 trillion in taxes in 2024. Just ten years earlier, it collected $3.1 trillion. We all grumble about paying the government this time ...
If you want to reduce your tax burden, here are some alternatives to paying capital gains taxes. Most of them have significant downsides. The post 10 Ways to Avoid (or at Least Delay) Capital Gains Ta...
Roger Whitney wraps up the four-part series on navigating health care before Medicare by introducing a practical decision-making framework using the OODA Loop—observe, orient, decide, act—to help you ...
Jeremy Keil explains the 5 RMD (Required Minimum Distribution) mistakes in Retirement and how to avoid them. A retiree recently called for help. It was their first year taking Required Minimum Distrib...
The final five years before retirement are not maintenance mode. They are leverage years. Small decisions made here can outweigh the previous twenty years of saving and investing. In this episode, Jam...
All that cash you have in tax-deferred accounts could launch you into a higher tax bracket when you start withdrawals. It's time to protect your income.
For real retirement security, forget about chasing returns and focus instead on the things you can control: income, taxes, risk-taking and decision-making.
The OBBBA's permanent lower tax rates removed the urgency for Roth conversions. Retirees thinking of stopping or blindly continuing them should do this instead.
Happy 2026! Get the updated FAANG FIRE Cheat Sheet with new 401k limits ($24.5k), tax brackets, and triple paycheck dates.
Hana's mom is 92. Mom's husband is 74, and after years of trying to help a family member, nearly a million dollars is gone. How do they stop the bleeding before it's too late, and how much can they sp...
Happiness expert Monique Rhodes explains why retirement often feels disorienting at first — and how creating a personal retirement roadmap can turn this transition into one of the most fulfilling stag...
Gary Zimmerman of Max® explains how to utilize your cash asset in retirement. Cash is one of the most overlooked assets in retirement. Here’s how retirees can earn thousands more in interest while kee...
Three major tax strategies will align in 2026, creating unique opportunities for real estate investors to significantly grow their wealth. Here's how it works.
How can you give stock worth millions to a loved one without giving them a huge capital gains tax bill? This family's financial adviser provided the answer.
Taxpayers can strategically use these temporary tax opportunities in particular to lock in long-term tax savings. Here's how.
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For many people, retirement feels less like a reward and more like a financial cliff. In this episode, we break down seven key factors that lead to a more financially stable retirement. You'll learn h...
Most retirees who make this mistake aren’t reckless. They’re careful. They’re doing what they believe is responsible, and that’s what makes it so painful to see when it backfires. James explains why t...
A $10 million retirement is often imagined as the finish line — complete freedom, unlimited spending, and no financial stress. The reality is more complex. James walks through what an eight-figure ret...
Retiring after age 65 changes the math and the priorities. You have fewer high-energy years, shorter tax planning windows, and RMDs much closer than most people realize. But you also often have higher...
Christian thought he was ready for retirement. He just didn’t realize how heavy the weight had been until he finally set it down. After more than 30 years in a high-stress, always-on role at a global ...
The holiday season inspires generosity, but smart gifting can go far beyond festive moments and gifts under the tree. On the show this week, we're digging into the world of gifting strategies, just in...
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A deep dive into the One Big Beautiful Bill Act (OBBBA) reveals key opportunities in 2026 and beyond.
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Wealthy retirees often overlook Social Security. But timed properly, it can drive tax efficiency, keep Medicare costs in check and strengthen your legacy.