Tag: Tax Efficiency

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Your 5-Year Retirement Countdown: Key Steps to Take Now [Ep.175]

Your 5-Year Retirement Countdown: Key Steps to Take Now [Ep.175]

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What are some steps you should be taking 5 years before your retirement? 

This question sets the stage for an engaging episode with Larry Heller, CFP®, CDFA ®, where we delve into the crucial five-year countdown to retirement. 

Larry emphasizes the importance of timely planning and actionable strategies to ensure a smooth shift into this new life phase. From building up cash reserves to maximizing 401(k) contributions, Larry walks us through a comprehensive guide tailored to those nearing retirement.

Larry covers topics such as:

  • Building cash reserves and why they’re crucial for a stable retirement [00:01:06]
  • Strategies to maximize your 401k contributions, especially for those over 50 [00:02:33]
  • Tax-efficient withdrawal strategies and their significance in your retirement plan [00:06:23]
  • The concept of a ‘Retirement Lifestyle Dry Run’ to mentally and financially prepare for life after work [00:10:34]
  • And more!

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Mastering Retirement Withdrawals: Expert Tips for Smart Distribution Planning [Ep. 169]

Mastering Retirement Withdrawals: Expert Tips for Smart Distribution Planning [Ep. 169]

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Do you know the smartest way to manage your withdrawals in retirement?

In this episode of the Life Unlimited podcast, host Larry Heller, CFP®, CDFA®, shares expert strategies for managing retirement withdrawals to ensure financial stability and tax efficiency. 

Larry covers essential steps for building a smart distribution plan, emphasizing pre-retirement planning and proactive wealth management. The episode explores the benefits of Roth conversions, the impact of the Secure 2.0 Act, and critical topics such as the widow penalty, annuities, and estate planning, all supported by real client insights.

Whether you’re approaching retirement or already retired, this episode offers practical tips to help you minimize taxes, optimize withdrawals, and protect your wealth and legacy. Don’t miss this valuable guide to mastering your retirement finances!

Key episode discussions include:

  • Strategic tax planning to minimize taxes before the distribution phase
  • Understanding different income streams like Social Security, pensions, and retirement accounts 
  • Real client scenarios illustrating the impact of effective and missed strategies
  • The effects of federal and state estate taxes, plus planning for longevity
  • Integrating attorneys and other professionals for a holistic financial plan 
  • And more!

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