Retire With Confidence
Daniel W McDonald
You may have a plan for saving money for retirement. But do you have a retirement withdrawal strategy? If you don't, it could cost you tens of thousands of dollars - or more - in excess taxes.
Retire With Confidence: Mastering Tax-Wise Wealth Preservation shows how to withdraw at lower tax rates and save big. Keep more of your hard-earned retirement savings and live the worry-free retirement you've always dreamed of.
Conventional Wisdom tells you to leave tax-deferred retirement accounts alone until age 72, when required minimum distributions begin. When I ran the numbers, however, I found that Conventional Wisdom can create huge tax bills for the years after age 72.
Fortunately, I found a better way. From Savvy Saver to Smart Spender shows that by starting withdrawals from IRA and 401(k) accounts well before age 72, retirees can withdraw at lower tax rates and save big.
It's not enough to know that you should begin withdrawals before 72. You need to know how much to withdraw as well. From Savvy Saver to Smart Spender guides you through a web-based tool that I created to find your best withdrawal rate.
Think this is only a millionaire problem? Think again. Retirement savings of just a few hundred thousand dollars trigger steep taxes in retirement, especially when Social Security benefits are considered (yes, Social Security can be taxed too!).
From Savvy Saver to Smart Spender will help you keep more of your hard-earned retirement savings and live the worry-free retirement you've always dreamed of.
Duration - 3h 16m.
Author - Daniel W McDonald.
Narrator - Scot Angus.
Published Date - Monday, 15 January 2024.
Copyright - © 2023 Daniel W McDonald ©.
Location:
United States
Description:
You may have a plan for saving money for retirement. But do you have a retirement withdrawal strategy? If you don't, it could cost you tens of thousands of dollars - or more - in excess taxes. Retire With Confidence: Mastering Tax-Wise Wealth Preservation shows how to withdraw at lower tax rates and save big. Keep more of your hard-earned retirement savings and live the worry-free retirement you've always dreamed of. Conventional Wisdom tells you to leave tax-deferred retirement accounts alone until age 72, when required minimum distributions begin. When I ran the numbers, however, I found that Conventional Wisdom can create huge tax bills for the years after age 72. Fortunately, I found a better way. From Savvy Saver to Smart Spender shows that by starting withdrawals from IRA and 401(k) accounts well before age 72, retirees can withdraw at lower tax rates and save big. It's not enough to know that you should begin withdrawals before 72. You need to know how much to withdraw as well. From Savvy Saver to Smart Spender guides you through a web-based tool that I created to find your best withdrawal rate. Think this is only a millionaire problem? Think again. Retirement savings of just a few hundred thousand dollars trigger steep taxes in retirement, especially when Social Security benefits are considered (yes, Social Security can be taxed too!). From Savvy Saver to Smart Spender will help you keep more of your hard-earned retirement savings and live the worry-free retirement you've always dreamed of. Duration - 3h 16m. Author - Daniel W McDonald. Narrator - Scot Angus. Published Date - Monday, 15 January 2024. Copyright - © 2023 Daniel W McDonald ©.
Language:
English
Opening Credits
Duration:00:00:11
02 introduction
Duration:00:05:29
03 Chapter 1: Don’t Wait to Withdraw—How Implementing a Retirement Withdrawal Strategy Now Can Slash Your Tax Bill Later
Duration:00:20:19
04 Chapter 2: Six Questions, Six Reasons You Need a Withdrawal Strategy
Duration:00:31:19
05 Chapter 3: Moving From Savvy Saver to Smart Spender— Shifting Your Mindset on the Retirement Roller Coaster
Duration:00:27:01
06 Chapter 4: Let’s Get Specific—How a Couple with Retirement Accounts Totaling $1.2 Million Can Simply Save Almost $20,000 in Taxes with a Smart Withdrawal Strategy
Duration:00:28:57
07 Chapter 5: More Examples of Ways to Save—Account Values $1.5 million-$3 million, with Savings up to $170,000
Duration:00:17:03
08 chapter 6: Lessons Learned, and a 70 Percent Savings Surprise for Lower Account Values
Duration:00:07:46
09 chapter 7: Married with Savings—Saving with a Second Social Security Benefit and Different Ages
Duration:00:03:41
10 Chapter 8: Single Scoop—Single Savvy Savers May Also Save $100,000 or More Using a Smart Withdrawal Strategy
Duration:00:08:55
11 Chapter 9: Let’s Do it! Turn Your Chosen Strategy into a Tax-smart Withdrawal Plan Right Now—and Why You Shouldn’t Wait
Duration:00:21:23
12 Chapter 10: Review, Revise, Retain: Using Annual Checkups to Keep Your Plan Running Well and Save Even More
Duration:00:13:37
13 Chapter 11: Review, Revise, Retain: Using Annual Checkups to Keep Your Plan Running Well and Save Even More
Duration:00:06:10
14 disclaimer
Duration:00:02:07
15 acknowledgements
Duration:00:00:53
16 about the author
Duration:00:01:03
Ending Credits
Duration:00:00:17