Broker Check

Video: Is Tax Planning Missing in your Retirement Planning?

May 07, 2024

Video tip from my YouTube Channel:

Too many retirees believe that they don’t have to do any planning in retirement. They spent years saving for their retirement and now they think they can coast. WRONG! There are hidden tax traps waiting for the unsuspecting. For instance, if you want $75,000 per year in retirement, is that before or after taxes? If it’s after taxes, that could mean withdrawing $90,000 per year before tax. 

Will your portfolio last for 35 years if you withdraw $90,000 each year adjusted for inflation? After 15 years, to keep your purchasing power of $90,000 at 3% inflation you would need to withdraw $140,217! 

To find out more about planning during your retirement years, give us a call or visit our website today. 

Bruce T. Yenk CFP

Robin M. Yenk

https://www.rmjfinancialgroup.com/

(Bruce) 732-705-4321

(Robin) 732-851-4065

*For specific tax advice, please consult a qualified tax advisor.