The year you retire is certainly one of the most exciting times of your life, but it is also one of the times when we are, financially speaking, the most vulnerable. But the good news is that with the right know-how, tools and planning, you can minimize your risks and vulnerabilities and focus your efforts on those things that will truly make your golden years golden.
Join CERTIFIED FINANCIAL PLANNER™ professionals, John Bever and Jim Uren as they discuss the latest strategies to help make the year you retire your best year yet.
All content for The Year You Retire is the property of John Bever and Jim Uren and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
The year you retire is certainly one of the most exciting times of your life, but it is also one of the times when we are, financially speaking, the most vulnerable. But the good news is that with the right know-how, tools and planning, you can minimize your risks and vulnerabilities and focus your efforts on those things that will truly make your golden years golden.
Join CERTIFIED FINANCIAL PLANNER™ professionals, John Bever and Jim Uren as they discuss the latest strategies to help make the year you retire your best year yet.
Do I Have to Pay Taxes on My Social Security Income?
The Year You Retire
32 minutes 33 seconds
1 year ago
Do I Have to Pay Taxes on My Social Security Income?
Join hosts John Bever and Jim Uren in episode 17 of The Year You Retire podcast as they tackle the crucial question: "Do I have to pay taxes on my Social Security income?" This episode dives deep into the intricacies of how the IRS handles Social Security in retirement, offering valuable insights on how to minimize or even eliminate these taxes. The duo also sheds light on the infamous "Social Security tax torpedo," explaining how it can significantly impact your tax bill and what you can do to avoid it.Listen in for practical advice, historical trivia, and key strategies to navigate Social Security taxation and help get the most out of your Social Security income. Don’t miss the final episode of season one as John and Jim prepare for an exciting season two with more relevant and helpful information for your retirement planning journey.In this episode, you will…· Learn to Maximize Your Retirement Income by Understanding Social Security Taxation.· Discover How to Navigate the Social Security Tax Torpedo and Keep More Money in Your Pocket.· Learn Effective Strategies to Help Minimize Taxes and Get More Out of Your Retirement Nest Egg.· Understand How Provisional Income Impacts Your Social Security Tax Bill in Retirement.· Discover the Potential Benefits of Delaying Social Security Benefits to Help Manage Your Taxes.The key moments in this episode are:00:00:05 - Introduction to the Year You Retire Podcast00:00:52 - Taxation of Social Security Income00:01:09 - Understanding the Social Security Tax Torpedo00:06:11 - Provisional Income and Tax Thresholds00:12:10 - Observations and Planning Opportunities00:15:35 - Understanding the Tax Code00:16:54 - Tax Brackets and Marginal Tax Rate00:18:07 – More on the Tax Torpedo00:21:05 - Strategies to Minimize Taxes00:27:43 - Gratitude Segment00:30:39 - Accessing Show Notes and Transcripts00:30:53 - Conclusion and DisclaimerDisclosure: The views expressed in this podcast are not necessarily the opinions of Phase 3 Advisory Services or Osaic Wealth, Inc. and should not be construed directly or indirectly as an offer to buy or sell any securities or services mentioned herein. Unless otherwise specified, show guests are not securities licensed or affiliated with Phase 3 Advisory Services or Osaic Wealth. Investing is subject to risks, including loss of principal invested. Past performance is not a guarantee of future results. No strategy can assure profit nor protect against loss. Please note that individual situations can vary. Therefore, the information should only be relied upon when coordinated with individual professional advice. Securities offered through Osaic Wealth, Inc. member FINRA/SIPC. Additional investment. and insurance advisory services offered through Phase 3 Advisory Services Limited, a Registered Investment Advisor.Osaic Wealth is separately owned and other entities and or marketing names, products or services referenced here are independent of Osaic Wealth. Phase 3 Advisory Services is located at 1110 West Lake Cook Road, Suite 265 in Buffalo Grove, Illinois 60089. Our phone number is 847-520-5545. For additional information,
The Year You Retire
The year you retire is certainly one of the most exciting times of your life, but it is also one of the times when we are, financially speaking, the most vulnerable. But the good news is that with the right know-how, tools and planning, you can minimize your risks and vulnerabilities and focus your efforts on those things that will truly make your golden years golden.
Join CERTIFIED FINANCIAL PLANNER™ professionals, John Bever and Jim Uren as they discuss the latest strategies to help make the year you retire your best year yet.
