E12: Retirement Draining Taxes and How to Avoid Them

In this episode, we'll discuss the implications of taxes on retirement. We'll address the biggest question that most people don't ask, but should be aware of, when putting money away for retirement.

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We've got a pretty exciting episode for you; it will focus on taxes on retirement. You see, there are various ways that people can be taxed while building wealth and when they retire. So we share some questions to ask yourself to determine which route is right for you.

There are different ways taxation can impact your retirement plans. What we'll do in this episode is bring to light some things that must be considered and how different strategies can impact taxes on your retirement in the future.

~ Retirement Taxes Discussed: ~

* Retirement wealth vehicles and options * IRAs * 401Ks * 403B's * Whole Life Insurance * Stock Market Investments * Pension Plans * Real Estate * How your lifestyle may have to be reduced in retirement because of unexpected taxes * The myth of being placed in a lower tax bracket upon retirement * The reality of how much you'll need to live on in retirement * The deductions you'll keep and lose * The future of Social Security * The affect of income on Social Security taxation * The affect of income on Medicare premiums Episode Takeaways:

* The last time taxes were decreased was when Reagan was president. So chances are you're gonna be in a higher tax bracket when you retire.

* Tax laws that are in effect today can change at any point, and so you might believe it's not gonna be taxed in the future.

* You could be living off hundreds of thousands of dollars a year inside of a policy and nobody would know.