Unlocking Your Financial Future
Business:Investing
Ep 3: You’ll Be in a Lower Tax Bracket When You Retire – Busting Financial Myths, Part 3
2019-09-19
Now we move to part three of a five-part series about financial myths and this episode focuses on taxes. Once we finish working, it’s easy to assume that our taxes will drop because we’ll move into a lower tax bracket. Well, that’s not the case. Find out why your taxes might increase and what strategies you can use to offset that.
Today's rundown:
1:10 – What’s in store on today’s show and introducing part 3 of the series.
2:12 – Mailbag question: My retirement accounts have done well recently, but I don’t really know what it should be doing. How do I know if my money is doing what I need to do?
3:30 – What’s a good average rate of return to shoot for in a strong market?
4:20 – Returning to our series on ‘Busting the Biggest Financial Myths’
4:51 – Myth: You’ll probably be in a lower tax bracket once you retire.
5:42 – We can’t assume taxes are going to get any lower.
7:07 – Strategies you can use to take advantage of lower tax rates now.
8:44 – How Social Security impacts your taxes.
9:57 – How we help clients that want to see how taxes impact retirement planning.
To get the full show notes and see additional resources, click here.
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