Joe and Al continue the discussion on tax planning strategies the IRS is taking away. Also in this hour: 10 steps to fine-tune your retirement plan and making sure you’re getting the most out of your 401(k).
4:53 “We believe that if you keep deferring, all the money that you grow through deferment is going to be taxed at higher rates”
7:53 “You can save more on taxes than you think, but you must use a forward-looking tax efficient strategy”
12:18 “Every dollar they pull out [of their 401(k)] they have to pay tax on”
16:11 “An IRA is not an investment, an IRA is the shell where you can invest in what you like”
19:21 “Most plans allow you to change how much of your pay is withheld in your 401(k)”
19:44 “Make sure that you’re getting the full company [401 (k)] match because that’s like free money”
21:21 “You can always contribute to an IRA if you have earned income and you’re under 70 1/2”
24:05 “You have to stop looking at Social Security as an investment; you have to start looking at it as longevity insurance”
25:11 “The biggest mistake Al and I see when people approach retirement is they significantly underestimate how much they’re spending”
27:28 “You have more control over how much you pay in taxes in retirement more than any other time in your life”
32:22 “Moving to a smaller home can save you money, housework and aggravation”
33:32 “Retiring successfully is not on accident; you need a plan and the sooner you get started the better off you’ll be”
Listen to the YMYW podcast:
Amazon Music
AntennaPod
Anytime Player
Apple Podcasts
Audible
Castbox
Castro
Curiocaster
Fountain
Goodpods
iHeartRadio
iVoox
Luminary
Overcast
Player FM
Pocket Casts
Podbean
Podcast Addict
Podcast Index
Podcast Guru
Podcast Republic
Podchaser
Podfriend
PodHero
Podknife
podStation
Podverse
Podvine
Radio Public
Rephonic
Sonnet
Spotify
Subscribe on Android
Subscribe by Email
RSS feed
