Dan and Katelyn explore why proactive tax planning is critical in retirement, starting with understanding the full retirement income stack, including a FERS or CSRS pension, planned TSP or IRA withdrawals, Social Security, and part-time income. They also discuss key tax considerations such as Roth strategies, required minimum distributions, Social Security and Medicare nuances, state tax realities, and the value of working with a CPA and CFP. The episode also covers how information bias can impact retirement investing and strategies to filter through market noise.
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The Fed15 Podcast: Smart Tax Planning in Retirement + Beating Information Bias
Katelyn explains why smart tax planning is essential in retirement. She begins by emphasizing the importance of understanding an individual’s retirement income stack, which may include a FERS or CSRS pension, planned TSP or IRA withdrawals, Social Security, and any part-time income. She then dives deeper into TSP and IRA withdrawal strategies, Roth considerations, and required minimum distributions, along with key Social Security and Medicare caveats. She also addresses state tax considerations and closes with the importance of maintaining a flexible tax strategy and working with a qualified CPA and CFP to help guide the process.
Dan discusses the importance of overcoming information bias in retirement investing. He explains how today’s investors are inundated with constant market updates, which can lead to information overload and clouded decision-making. He breaks down what information bias is, how it can show up in federal portfolios, including fund selection, and closes with evidence-based filters to help investors cut through the noise and stay focused on long-term retirement goals.
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