How To Pay $0 Tax On A Big Retirement Income

Here's how one couple paid $0 tax on their retirement income.
Dave Zoller, CFP®

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[dianebrouwer]

Yes, more scenarios! Seeing examples helps me understand the effects of making certain financial moves. Do some examples for single people, please!

[BigNate]

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

[yohrtdj]

I love scenarios! Please keep them coming. They help to transform theory into reality.

[bwmjekv]

These are exactly the kinds of scenarios I want to learn about as I am heading into retirement. Thank you so much for all the work you put into this.

[eagleschic]

Thank you for this little ditty about J &D.

[stevezoller]

This is really good, Dave. I wish people would do more planning like this. What they need to do …is a tax projection in November or early December. They could save a ton of tax $$ due to zero cap. gain tax at certain income levels. People are usually too busy(??) to plan

[billh]

I love example videos and this was a good one. I would like to see some examples for single people, maybe 1 out of 3 or 4, depending on the ratio of married to single retirees.

[cathleenwoodul]

Little ditty 'bout Jack and Diane
Two American kids growin' up in the heartland

[markb]

Thanks Dave, the video is very helpful and I would like to see more case studies like this. I have a simular situation but I'm single and concerned about RMD's in 12 years.

[lindapaquette]

This discussion is so important. I find your videos so helpful. It’s so important to have this knowledge to make better financial decisions of where to withdraw money from in our portfolio to keep our taxes low.

[gizmobowen]

I'd heard of tax loss harvesting and seen it explained. I'd heard of tax gain harvesting, but wasn't sure how it was implemented. This was helpful, thanks.

[amerlin]

I can see where you might want to take a year (or two) keeping taxable income low, harvesting tax gains if you are fortunate enough to have a significant amount (you don't have past losses carried over that you must use to offset)...
However, in general, you shouldn't have a goal of paying $0 taxes in retirement. Take the hit filling the 10% and 12% tax brackets (at least), otherwise you're passing along the tax burden to your heirs who will likely pay 25% or more in taxes.

[JG-DivMan]

Nicely done! No fluff, informative, and right to the point.

I honestly wasn't aware of tax gain harvesting. I've been harvesting losses regularly over the years, but haven't (yet) been in a situation where gain harvesting would be helpful. However, it's good to know for the (hopefully sooner than later) future.

I've always been interested in the role of home equity in retirement scenarios. Would love to see a future video on various strategies around how to handle one (or more) real estate investments in retirement.

[skyak]

This is just what I need. I retired early and have been haphazard with making the turn from loss harvesting to gain harvesting. Part of the reason is that I always figured that the government healthcare subsidy from low income beat that tax savings when I am on medicare. Now I am not sure.

[josehenry]

I'm so happy I made productive decisions about my finances that changed my life forever, hoping to retire next year.. Investment should always be on any creative man's heart for success in life

[cliffluxion]

Thank you. 😃 Never be zero income tax people here, I don't think, but it's a good example of what to work toward, opportunity permitting. 🤔

[CarolCattle]

More please. Thank you, very helpful.

[GiovanniVenetico]

I deeply appreciate the information. What I would love is how to actually implement these strategies.

[tbattist-ycrj]

Very informative. Thank you. How does one invest/plan Qualified dividends. Do funds or companies provide this forward looking info? I see this showing on 1099s but not aware of a means to manage it.

[williammerrill]

Thanks for taking the time to inform us on how to make better decisions!