00:0010 Retirement Tax Bombs Waiting for You
00:02The Widow's Penalty
00:05After a spouse dies, income often falls while tax rates rise.
00:10Filing single cuts the standard deduction, pushing surviving spouses into higher brackets despite lower household income.
00:18The Social Security Surprise
00:20Up to 85% of Social Security benefits can be taxed once provisional income crosses set thresholds,
00:29catching many middle-income retirees off-guard, and increasing their annual tax bills.
00:35The RMD Rude Awakening
00:37Required minimum distributions start at age 73, forcing withdrawals from tax-deferred accounts.
00:44These mandatory payouts can push retirees into higher tax brackets even if they don't need the money.
00:51The State Tax Trap
00:52Moving for retirement can expose you to unexpected state taxes.
00:57Some states still tax Social Security or pensions, creating surprise costs if local tax rules aren't researched carefully.
01:06The Medicare Surcharge
01:07Higher income can trigger income-related monthly adjustment amount surcharges, sharply increasing Medicare premiums.
01:15Even small income increases may cause year-long premium hikes that function like a hidden retirement tax.
01:21The Tax Torpedo
01:22Small withdrawals can trigger more Social Security to become taxable, creating an unusually high marginal tax rate.
01:30Poor income timing can significantly magnify taxes owed in retirement.
01:35The Inflation Tax
01:37Inflation erodes purchasing power, while Social Security tax thresholds remain frozen.
01:43Over time, more retirees are pulled into taxation, effectively raising taxes without any new legislation.
01:51The Wrong Asset Location
01:52Placing investments in the wrong accounts creates unnecessary taxes.
01:58Poor asset location increases annual tax drag, reducing long-term returns and shrinking retirement savings over time.
02:05Spending Taxable Cash First
02:08Using taxable savings before retirement accounts can inflate future RMDs.
02:14Strategic early withdrawals may smooth lifetime taxes and reduce higher tax bills later in retirement.
02:20The Legacy Landmine
02:21Inherited traditional IRAs must often be emptied within 10 years, forcing heirs into higher taxes.
02:29Roth conversions can preserve wealth by passing tax-free assets to beneficiaries.
02:33The Legacy Landmine
02:34Inherited traditional IRAs
02:34The Legacy Landmine
02:35Inherited traditional IRAs must have been a very large tax-free asset.
02:36The Legacy Landmine
02:37Inherited traditional IRAs must have been a very large tax-free asset.
02:38The Legacy Landmine
02:39Inherited traditional IRAs must have been a very large tax-free asset.
02:40The Legacy Landmine
02:41Inherited traditional IRAs must have been a very large tax-free asset.
02:42The Legacy Landmine
02:43Inherited traditional IRAs must have been a very large tax-free asset.
02:44The Legacy Landmine
02:45Inherited traditional IRAs must have been a very large tax-free asset.
02:46The Legacy Landmine
02:47Inherited traditional IRAs must have been a very large tax-free asset.
02:48The Legacy Landmine
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