How Retirement Income Is Taxed

There are 3 different tax rates for the different types of retirement income.

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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

[denniss]

64 retired Not taking SS until 70, my plan is to drain my IRA over the next 5 years before that big SS check pushes me into a much higher tax bracket

[Gloppp]

Think I got it - my retirement & 457b plan is ordinary income, that I could reduce the taxes on when I take social Security, but my vanguard digital advisor account is taxed as capital gains which is good thing because it is a lower rate if held long term .

[denniss]

Taxes are not a speed bump but a Detour sign, forcing to take a longer route to your financial destination, good content, thanks

[ShahzainAli-tlsk]

Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This YouTube channel is very informative and effective.

[TravelingTheWorld]

What I love about the Roth 401(k) is it can help you save on taxes in retirement. Not only are withdrawals tax-free at 59 1/2,  it won't impact the taxation of your Social Security benefit and Medicare premiums.This is an important aspect of a Roth account that most people are not aware of.

[Kenbot]

Isn’t social security added to your pension income and 401k withdrawals or do you calculate social security separately?

[beanbean]

How are annuities taxes in retirement ?

[jmb-cmmr]

My husband is a NY State Retiree thankfully our Medicare part B will be reimbursed to both of us because its already included in our NY State Retiree Health Insurance.

[susanbarnes]

I am trying to put some in Roth from traditional Ira. Cpa only wants me to do 8000, but that gets me nowhere.
Do you hold 5 yrs after opening even if over 60?

[billobrian]

You should also mention that some but not all social security is taxed, depending on how much other income you have.

[d]

Do you need to pay Quarterly Estimated tax payments throughout the year for 401k and IRA distributions?

[timein]

How about if the husband is older and start the RMD and the wife is 66 y/o. Will the wife, s Medicare part B increase also since you’re filing jointly?

[annerosewilson]

So does your Medicare premiums change yearly since your AMA changes or are you stuck with that high premium for the rest of your Medicare period moving forward?

[Hbd]

You talk way too fast. I had to slow the video down to .75 to even even follow you at all. Also, using charts helps.

[HectorLopez-wcfx]

Clicked on the video because of the title. Left after 3 minutes because of long winded rambling at the beginning.

[Bob-combs]

I am 50 years old, but I have been retired for two years. At one time, I had a rough time investing in stocks, losing about $200, 000 over a five-year period. However, a fortuitous opportunity changed my fortunes, and I was fortunate enough to meet a true investment professional, Daniel Price CFA, whom I had been feeling unguided and losing more than I was making until I worked with him.