08/11/2026
Think about this for a minute... Would you rather pay your income taxes now when you're working, or postpone them until you're retired and not earning an income?
It's a dilemna that most will face, but my experience is that very few people really have a balanced portfolio when it comes to taxes, they're heavily waited on the deferral side.
There's a lot of noise out there, but the IRS doesnât let you defer taxes forever. Required Minimum Distributions (RMD)'s will force you to withdraw money from your retirement accounts, whether you need it or not, at some point. This forced income could push you into a higher tax bracket, make your Social Security income taxable, and even trigger IRMAA surcharges on your Medicare premiums.
It can be a tax trap, with what seems like no way out. Few people ever consider it, and then you're there facing a tax bill.
The good news is you can do something about it, if you start planning now, while you're still working. You may want to consider a private plan or a ROTH conversion, but you'll probably want some tax-free income. The time to make the changes is while you can.
You don't want to wait until your health declines or you're forced out of your job. You can stay in control and make wise decisions now, so youâre not forced into a position with few options later.
These aren't decisions you make all at once, planning takes time. It's worth the time to sit down and look at your options. You may find that you're transferring away money unknowingly, and even unnecessarily to taxes.
Tax laws change, it's better to be on the good side of them, and have a solid plan for your retirement and your estate. If you want to talk, reach out and schedule a review, we're here to help.
