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Empty Nest Full Pockets Podcast
The Empty Nest Full Pockets Podcast is designed to explore the financial and emotional issues of life's second half. From paying for college to dealing with aging parents, empty nesting, navigating careers, dealing with taxes, and getting ready for retirement, we share experiences, ideas, and a platform to celebrate what we believe is one of the most exciting periods of your life.
Registered Representative of Sanctuary Securities Inc. and Investment Advisor Representative of Sanctuary Advisors, LLC. Securities offered through Sanctuary Securities, Inc., Member. SIPC. Advisory services offered through Sanctuary Advisor, LLC., an SEC Registered Investment Advisor. PrairieFire Wealth Planning is a DBA of Sanctuary Securities, Inc. and Sanctuary Advisors, LLC.
Empty Nest Full Pockets Podcast
Maximizing Your Retirement: Tax Strategies for a Secure Future
In this episode, we dive deep into the intricacies of retirement income planning, focusing on the strategic order of asset withdrawals to optimize tax efficiency. We discuss the common philosophy of withdrawing from taxable accounts first, followed by tax-deferred and tax-free accounts, and explore the benefits of Roth conversions for long-term tax savings. We also touch on the importance of understanding Social Security benefits and the mindset shift needed to embrace a "permission to spend" approach in retirement.
Digital Asset: Download Our Empty Nest Success Checklist - https://prairiefirewealth.com/areas-of-focus/empty-nest-planning/
00:00:00 - Understanding Taxable, Tax-Deferred, and Tax-Free Accounts
00:02:06 - The Benefits of Roth Conversions
00:05:18 - Required Minimum Distributions and Their Impact
00:06:10 - Planning Your Tax Strategy for Retirement
00:07:46 - Assessing Your Financial Buckets
00:08:59 - Maximizing Social Security Benefits
00:10:02 - Adopting a Prairie Fire Mindset for Retirement Spending
00:11:27 - Offering a 20-Minute Consultation for Retirement Planning
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I sincerely appreciate your support. Thank you for being a part of our podcast journey. If you haven't already, please subscribe to stay updated with the latest episodes. Your subscription means the world to me!
I’d love to hear from you; here are some ways to connect:
Web: https://www.prairiefirewealth.com/
Email: info@pfwplanning.com
Get a copy of my book: Empty Nest, Full Pockets: How to Emotionally and Financially Prepare for Your Family’s Future at https://amzn.to/3PovUWM
