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Tax Planning for Retirement

Dave Herwerden of WestPoint Wealth Management, LLC

How Tax Planning Changes Through the Four Stages of Retirement. Learn the critical tax question you must answer BEFORE retiring.

Pre-Retirees often don't understand how taxes work in retirement, but they're acutely aware of the size of their tax bill each year.  In retirement, your tax rate may vary widely over the years based on timing and order in which you use different sources of money to pay for your living expenses. You want to apply the tax code in an organized and efficient way.

You need a retirement tax strategy that will:

• Identify the types of taxes you will face at various stages
• Address how taxes impact Social Security and Medicare
• Plan when to tap different accounts so you don't overpay taxes

Attend this educational talk and you will learn:

• The surprises that often make retirement more expensive
• What the "Social Security Tax Trap" is and how you can avoid it
• Why tapping assets in the wrong order can trigger higher Medicare premiums
• Why you need to manage taxes even before you retire
• The four stages of retirement and important tax actions in each stage, including tricky IRA challenges
• Mistakes to avoid when it comes to your investment portfolio, health care, and estate

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