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Tax Reduction

Unlike the Conventional Wisdom Regarding the Need to Mindlessly Defer Taxes, the GOAL Should be to Reduce One's LIFETIME TAX BILL

Pay Attention to Current and Future Tax Rates

  1. Compare the current tax rate to the future tax rate in retirement
  2. Compare the current tax rate to the future tax once the Widow's Penalty kicks in (Married Filing Jointly to Single)
  3. Compare the current tax rate to the potential heir's tax rate (SECURE ACT; if an IRA)

Paying some taxes now could be a missed opportunity, especially if the tax rate is expected to increase in the future

A Common Enemy: Everyone Hates Taxes

What keeps you up at night?

  • Paying Too Much in Taxes
  • Creating a Retirment Plan
  • Market Volatility
  • Not Having Enough Money to Retire
  • Outliving Your Money
  • Health and Medical Expenses
  • Legacy and Caring for a Family Member
  • Other

What Would You Do?

If you had all the time and money in the world?

If you knew you only had 5-10 years left?

What would you most regret if you die tomorrow?