Preview Mode Links will not work in preview mode

The Retirement Trainer

Oct 22, 2020

In the previous episode of this podcast, we explored what taxes currently mean for retirees - and why taxes are the most expensive thing in almost every retirement plan. 

If you save the wrong way, you’ll be penalized for it. If you were so lucky as to live to be 115 years old, you’d be required to withdraw 50% of your pre-tax retirement accounts each year - and no matter what age you are, your required minimum distributions can lead to massive tax spikes. 

Today, we get at the heart of why your pre-tax investments are so expensive when compared to Roth investments, how to effectively prep your taxes regardless of what happens in this year’s election, and why the health of your investments won’t tell you anything about your spending when it comes to your taxes. 

In this podcast interview, you’ll learn: 

  • Why 59 ½, 70 ½, and 72 are the magic ages when it comes to taxes - and what tax penalties you face when you withdraw from your retirement plan at each age. 
  • How retirees can use qualified charitable distributions to minimize Social Security taxes. 
  • Tax opportunities created by the CARES Act that may be worth considering.

Show Notes

To get access to today's show notes, including links to all the resources mentioned, visit

How Fit Is Your Retirement Plan? 
We can help you manage your finances so you can pursue your goals. To learn more, visit