))
What steps can I take to avoid a tax time bomb in retirement?
Manage episode 441927330 series 3562735
A tartalmat a Ralph V. Estep, Jr. and Ralph V. Estep biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Ralph V. Estep, Jr. and Ralph V. Estep vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
Ever wondered if your retirement savings are hiding a potential tax time bomb? In this episode of The Ask Ralph Show, Ralph Estep Jr. breaks down strategies to help you avoid unexpected tax surprises in retirement. Discover practical solutions to protect your savings and answer the critical question: What steps can I take to avoid a tax time bomb in retirement? Tune in now to safeguard your financial future! How to Prevent a Tax Time Bomb in Retirement? With Ralph Estep Jr.
In this episode of the Ask Ralph Show, host Ralph Estep Jr. dives into the concept of a "tax time bomb" in retirement, where deferred taxes can lead to significant financial burdens later in life. Through the story of his client Robert, Ralph illustrates how Required Minimum Distributions (RMDs) and poor planning can lead to unexpected tax issues. Ralph shares actionable strategies such as Roth IRA conversions, Qualified Charitable Distributions (QCDs), and diversifying income sources to help you reduce tax liabilities. Whether you’re close to retirement or still years away, this episode will equip you with the knowledge to protect your savings and avoid unnecessary taxes.
https://www.askralphpodcast.com/tax-time-bomb/
Podcast Shownotes:
00:00 Episode Overview
01:09 Listener’s Question
02:19 Bible Verse: Proverbs 21:5
02:47 Real-Life Story: Robert’s Tax Time Bomb Experience
05:47 Roth Conversions
06:31 Qualified Charitable Distributions
07:21 Diversified Retirement Income Sources
08:00 Strategic about Social Security
08:42 Action Steps To Avoid a Tax Time Bomb in Your Own Retirement #1 Diversify Retirement Savings
08:56 #2 Plan for RMDs Before They're Required
09:37 # 3 Consider Roth Conversions in Lower-Income Years
10:07 # 4 Explore QCDs If You're Charitably Inclined
10:31 #5 Get Professional Help
13:22 Conclusion
Websites Mentioned:
https://www.askralphpodcast.com/roth-ira-conversions/
https://www.askralphpodcast.com/tax-breaks-for-seniors/
What is your question that you would like to ask Ralph? Send Your Question here: https://justaskralph.com/
Join our email list and get a free copy of “Mastering Your Finances” at https://askralph.com/
Schedule an Appointment with Saggio Management Group, Inc.
TAKE OUR LISTENER SURVEY - YOU COULD WIN $250
WATCH NOW ON YOUTUBE (OUR VIDEO VERSION)
WATCH NOW ON RUMBLE (OUR VIDEO VERSION)
VISIT OUR ASK RALPH SHOW GEAR STORE FOR ALL KINDS OF COOL MERCHANDISE - ENTER THE CODE "FREEBOOK" FOR A FREE DOWNLOADABLE COPY OF MY BOOK "MASTERING YOUR FINANCES"
JOIN OUR FACEBOOK INSIDERS GROUP
Please share our Podcast with all your friends and family!
Submit your questions or ideas for future shows - email us at
ralph@askralph.com or leave a voicemail message on our podcast page
Like us on Facebook and follow us on Facebook at
https://www.facebook.com/askralphmedia Twitter (@askralphmedia) or visit www.askralphpodcast.com for more information.
To schedule a consultation with Ralph's team, contact him at 302-659-6560 or go to www.askralph.com for more information!
Buy Ralph's Book - Mastering Your Finances! on Amazon
Buy Ralph's Book - Gospel of Entrepreneurship: Following Jesus in Your Business Journey on Amazon
563 epizódok
Megosztás
