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Showing posts with the label taxesinretirement

How to Maximize Income with the Social Security Bridge

A Social Security bridging strategy involves spending from your assets after you stop working instead of taking your retirement benefit immediately. There are pros and cons of this approach, but the benefits can be substantial. In particular, you might: ☑️ Maximize your retirement income ☑️ Reduce risk over the long term ☑️ Open the door to tax strategies ☑️ Possibly help improve things for a surviving spouse ☑️ And more But there are no guarantees in life, and there are always tradeoffs. That’s true with a Social Security bridge, as well. For instance, you might be hesitant to spend down your assets while you wait. That’s understandable. And delaying benefits isn’t right for everybody. Whether you have health issues or you just want the income sooner than later, it could be appropriate to take benefits early. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments In this video, we explore how the strategy works, we cover som

Facebook Live: Discover the Optimal Time for Social Security Claiming (March 3, 2021)

Video from Facebook live stream from the Facebook group, "Taxes in Retirement," from March 3, 2021. Discussions of what to consider when deciding when to start claiming your Social Security benefits Apologies for the poor video quality 😢 🎥 For some reason, the stream that day was poor. But the audio was fine throughout To join Taxes in Retirement - #SocialSecurity #FinancialPlanning​​​ #RetirementPlanning DISCLAIMER: This video is only helpful hints and education. It is not specific tax, legal or investment advice. Before considering acting on anything you see in this video, first consult with your tax, legal or investment advisor. While the information expressed in this video is believed to be accurate, neither Andy Panko, CFP®, RICP®, EA nor Tenon Financial LLC make any guarantees to its accuracy.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED:

What Happens to My Pension When Retiring Abroad? Exploring OAS, CPP, and GIS in Canada

In this video I go over the rules the Government of Canada uses to decide your entitlement to Canadian pensions if you decide to live outside of Canada in retirement. Did you like this video. You can leave us a tip by buying us a coffee. Thank you!! Https://www.buymeacoffee.com/Rnjstevens Equipment & Software used in filming my Video: Go Pro 9 Hero Black IPad Pro 11 Keyboard Video Editing software: Luma Fusion Pro The links above are affiliate links, when clicked on we receive a small commission from Amazon which helps produce our video’s and helps feed a retired guy. :) There is no extra cost to you and we greatly appreciate it. Disclaimer: The information contained on this video is neither an offer nor a recommendation to buy or sell securities. Any information found on this video is not provided to any particular individual with a view toward their individual circumstances. This video has been prepared for informational purposes only and is not intended

"Facebook Live Event on September 23, 2020: Outlining Various Exceptions to the 10% Penalty for Early Withdrawals from IRA"

Video from Facebook live stream from the Facebook group, "Taxes in Retirement," from September 23, 2020. Summary of the nine exceptions to the 10% penalty for making withdrawals from an IRA before age 59 1/2. To join Taxes in Retirement - #TaxPlanning #RetirementPlanning #FinancialPlanning DISCLAIMER: This video is only helpful hints and education. It is not specific tax, legal or investment advice. Before considering acting on anything you see in this video, first consult with your tax, legal or investment advisor. While the information expressed in this video is believed to be accurate, neither Andy Panko, CFP®, RICP®, EA nor Tenon Financial LLC make any guarantees to its accuracy.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The Internal Revenue Service (IRS) imposes a 10% early withdrawal penalty on individuals who wi

Taxation of Social Security Benefits

Are Social Security benefits taxable? Understanding the impact of Social Security Taxes in Retirement. GET YOUR OWN PROFESSIONAL Social Security Analysis and Strategy Report: Free Resources Contact Us ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Social Security benefits are a source of income for many retired Americans, but did you know that these benefits are taxed? For those who are not aware, Social Security benefits are subject to federal income tax. In fact, up to 85% of your Social Security benefit could be taxed. Here is what you need to know about how your Social Security benefits are taxed. Who is taxed? Not everyone who receives Social Security benefits is subject to federal income tax. The amount you pay in taxes depends on your total income for the year. Your income includes more than just your Social Security bene

Decoding Roth Conversions: Tips to Know (Facebook Live, December 16 2020)

Video from Facebook live stream from the Facebook group, "Taxes in Retirement," from December 16, 2020. Discussion of everything you need to know about Roth conversions. To join Taxes in Retirement - #TaxPlanning #RetirementPlanning #RothConversion DISCLAIMER: This video is only helpful hints and education. It is not specific tax, legal or investment advice. Before considering acting on anything you see in this video, first consult with your tax, legal or investment advisor. While the information expressed in this video is believed to be accurate, neither Andy Panko, CFP®, RICP®, EA nor Tenon Financial LLC make any guarantees to its accuracy.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA On December 16, 2020, a Facebook Live event was held to provide information on what to know about Roth conversions. The event was aimed a

What is a beneficiary IRA?

What are the rules about inheriting an IRA from a loved one? Do you need to take distributions? How long do you have to take the funds from the account? The rules on inheriting IRA's have changed, and we explain it.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA https://inflationprotection.org/what-is-a-beneficiary-ira/?feed_id=41364&_unique_id=6379c78fadd52 #Inflation #Retirement #GoldIRA #Wealth #Investing #antoniocibella #clevelandfinancialadvisor #individualretirementaccount #inheritance #IRAdistribution #requiredminimumdistribution #Retirement #RMD #RothIRA #secureact #taxesinretirement #traditionalIRA #visionwealth #InheritedIRA #antoniocibella #clevelandfinancialadvisor #individualretirementaccount #inheritance #IRAdistribution #requiredminimumdistribution #Retirement #RMD #RothIRA #secureact #taxesinretirement #tradi