Tag: Roth IRA
Taxes In Retirement Part 3: Retirement Tax Strategies (Ep. 36)

Taxes In Retirement Part 3: Retirement Tax Strategies (Ep. 36)

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Tax strategies are important not only for saving money but are particularly needed when it comes to retirement planning. These strategies play a pivotal role in determining how much money you’ll have at your disposal during your golden years. With effectively managing your taxes, you can potentially reduce the impact they have on your retirement account withdrawals, and ultimately enjoy a more financially secure and comfortable retirement.

In this episode, John Mints welcomes Wendy McConnell, the new producer and co-host of the Secrets of the Wealthy podcast. They finish the 3 part “Taxes in Retirement” series with a conversation about retirement tax strategies. John and Wendy talk about the importance of Roth IRAs and the potential benefits of converting to a tax-free bucket, and explain strategies for saving on taxes, such as donating directly from tax-deferred accounts and Roth conversions.

John covers:

  • A brief recap of parts 1 and 2 of Taxes In Retirement
  • Tax strategies for taxes in retirement
  • The misconceptions and lack of knowledge around Roth IRAs
  • What Qualified Charitable Distributions (QCD) are and how  to use them to potentially save money on future taxes 
  • How to reduce the impact of your future taxes with Roth conversions
  • And more!

Resources: 

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A Roth on Steroids, Part Two (Ep. 21)

A Roth on Steroids, Part Two (Ep. 21)

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Investing in a Roth is a great way to save on taxes, but it often comes with a number of handcuffs that limit the amount you can contribute.

But what if there was a way to invest that would give you most of the benefits of a Roth without the limitations?

In this episode, John Mints continues his discussion about a “Roth on Steroids”. He shares the key points that you should know before getting started to ensure it works for you and your specific situation. 

John discusses:

  • How long it typically takes for this structure to become efficient
  • Who are the best candidates for this type of tax-free structure
  • The difference between a Roth and a Roth on Steroids
  • How to start creating your own capital source
  • And more!

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A Roth on Steroids, Part One (Ep. 20)

A Roth on Steroids, Part One (Ep. 20)

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There is an age-old secret that professionals such as doctors, dentists, chiropractors, and many others are surprised to learn about, especially those in a higher tax bracket.

In this episode, John Mints talks about one of his favorite topics: tax-free savings and accumulation. Learn about his secret to tax-free gains that he calls a “Roth on Steroids.” With a potential increase in inflation and interest rates, there is no better time than now to start accumulating your wealth tax-free.

John discusses:

  • His age-old tax saving secret
  • How to start your Roth on steroids
  • What the rise of interest rates will do to your investments
  • Why you may not want to put all your eggs in one basket in terms of savings vehicles
  • And more!

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401(k) vs Roth IRA (Ep. 15)

401(k) vs Roth IRA (Ep. 15)

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What is a Roth IRA, and why may it be the best option for you? When it comes to saving for your future, and with the current state of taxes, it’s important to look for solutions that could be the right fit for you.

In this episode, John Mints fills you in on some myths about 401(k)s and warns not to get trapped into paying unexpected taxes. He explains the importance of understanding which account is right for you and describes Roth IRAs. 

John discusses:

  • The best place to put your money given the current tax situation
  • Potential penalties when incorrectly withdrawing funds from your Roth IRA
  • The truth about 401(k)s 
  • And more!

Resources: 

  1. What Secrets? Part One
  2. What Secrets? Part Two
  3. Your Inheritance May Be In Danger

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The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Biltmore Financial Services Inc. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.