11 Things Every Retiree Should Do Before Year-End

0:00 11 Things Every Retiree Should Do Before Year-End
0:16 #1 - Update Spending Capacity
3:02 #2 - Reassess Plan Objectives
4:48 #3 - Look at Your Year-End Tax Graph
6:58 #4 - Tax Loss + Gain Harvesting Opportunities
7:47 #5 - Surprise Year-End Capital Gain Distributions
9:04 #6 - Add to Safety if Needed
10:04 #7 - 3 Levels of RMDs
10:53 #8 - Fix Tax Underpayment Mistakes
13:12 #9 - Update Healthcare Package
13:52 #10 - Gifting: Next Generation + Charity
16:33 #11 - Effective Retirement Contributions

Complimentary Videos That Expand on Concepts in this Video:

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Always remember, "You Don't Need More Money; You Need a Better Plan"

[ArianaFelicia-cwoq]

I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at
55. How best do I maximize my savings of over $220k

[rdspam]

16:13 Doesn’t gifting a highly appreciated asset run into the kiddie tax, where gains above $2500 bounce right back to the gifter, at their rates? Plus the complexities of filing 8615/8814?

[ld]

Good video and discussion Eric, very helpful. Larry, Central Valley, Ca.

[Random-ldwg]

interesting in that the first table on reevaluating spending shows a swr of 3.8% instead of 4% for a 50/50 portfolio to last 30 yrs.

[thecalculator]

Issue #10 (gifting to family) needs to discuss the implications of "stepped-up basis". It can drastically change the taxability of the after-tax account when the account is inherited.

[LauraBjornsen]

This was an EXCEPTIONALLY VALUABLE video. Thank you!!! My advisor just started using Holistiplan, but haven’t share the graph you did. Thanks again for this great information!!!
10 out of 10 ⭐️🌟✨ stars. 😊

[tomcarney-wg]

does contributing to a HSA lower your MAGI for healthcare exchange plans?

[mrjb]

I have been taking aggressive Roth conversions because my pension uses up my standard deduction so all IRA withdrawals will push me into the SS tax torpedo. MN also taxes SS income making the marginal rate even worse. Trump promised to eliminate SS taxation of seniors and also to extend the TCJA. I am considering reducing my end of year Roth conversion since the tax rate on the conversion plus IRMAA appears to be higher than the tax rate on my future IRA withdrawals once the SS tax torpedo implodes. Do you think Trump will be able to do this?

[gregmartin]

Can you do a video on how to best get divorced during retirement?

[DanielBaleWyatt]

Retirement is more challenging now than it used to be. I've focused on saving rather than investing, and currently, I have about $400K. With inflation on the rise, I’m considering investing in stocks, but I’m not familiar with effective market strategies.