IRS Releases NEW 2025 Tax Brackets - What Retirees Need To Know

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*444 {Hammad}[Parvez] IRS Releases NEW 2025 Tax Brackets - What Retirees Need To Know

[AdamGreene]

Increasing tax rates are the reason I rolled over my 401k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account. I'm now seeking best possible areas or ways to gain wealth in today's economy.

[tonysilke]

The big thing you missed in this video is the fact that taxes on Social Security should be illegal in the first place. Double taxation is illegal and that is exactly what is happening. SS recipients have already paid taxes on the wages when they were working and now when retirees desperately need this income the most to live the government gives them the shaft! Retirement may become a problem for Americans

[cesarmurph]

I think the retirement crisis is only going to get worse. A lot of people are finding it hard to save because wages are low, prices keep going up, and rent is through the roof and taxes are unbearable. For many middle-class Americans, owning a home is becoming out of reach, which means they might not even have that safety net to fall back on when they retire. It’s a tough situation, and it doesn’t seem to be getting any easier.

[nicolasbenson]

I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.

[carolosburn]

I am 76 still working. I am sick of all of it making me pay more Medicare and any kind of tax!

[mariayslava]

Nobody is asking the right questions. I'm worried about retirement and want to maximize my savings. I've tried various investments that didn't work out as I hoped, and now I'm unsure whether to invest in the stock market or index funds. Any recommendations would be appreciated.

[mkunzman]

Having an estate plan is more than saving on taxes - it is protecting your and heirs privacy and keeping assets and family properties in the family

[tatianastarcic]

As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated

[Cor-]

I'm still blown away that we have to pay tax on "OUR" social security money, and even more if you make over $18k 😡

[pdodwell]

Not only can a married couple now give their child $38, 000 tax free by each one giving them each child $19, 000 but if a married couple wants to give to their married child and the child’s spouse, that is $76, 000 that they can give every year. How many average people are in a position to do this? Also, how many people are actually in a position to be worried about whether or not their $14 million estate is going to be subject to tax when they leave it to their heirs?

[Grace.h-to]

I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years

[luvread]

The gift tax is misleading. The receiver doesn’t pay income tax on the gift but the giver has already paid income tax on the money when it was earned.

[RedEyeC]

At 4:16 - this table appears to be incorrect. The 12% should be up to $48, 475 single / $96, 950 joint.

[slocumb]

Better give the kids those monetary gifts early on if you think there is ANY chance you will need state funded long term care. Most states have a 5-year look-back rule and will assume any money you gave away during the preceeding 5 years was to avoid paying for your care. You will be disqualified from receiving Medicaid for a period of time commensurate with the amount of money you gifted. The IRS gift limit has nothing to do with the Medicaid rules.

[marilynnschroeder]

5:25 @Azul I think you are incorrect about this. The income level of say $96, 700 is one’s taxable income, not just income from capital gains and ordinary dividends. So for married filing joint taxpayers, they will pay the applicable percentage when their “taxable income” exceeds the applicable level in the chart.

[pennyamyot]

I won’t have to worry about any of that, it’s all so much more than I’ll ever make in a life time!

[tfc]

Nice job Azul! I love when you provide us great info to plan.

[DonaldMark-nese]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My Husband and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[morganlowen]

The jump from 12% to 22% is such a scam from the IRS. The incentives to earn more are diminished by many.

[swtexan]

Correct me if I'm wrong, but if you're giving $19, 000 to your child, haven't you already paid taxes on that money?