Tax Mistakes New Retirees Make (And How to Avoid Them)

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Nobody enjoys tax season, but for new retirees, the transition from working income to retirement income can create a whole new set of tax challenges. Lee breaks down several common tax pitfalls that new retirees often face, inspired by a recent financial article and real-world client conversations. Tune in to find out how thoughtful planning can help retirees avoid unpleasant surprises and keep more of their money working for them in retirement.

Here’s what we discuss in today’s show:

📅 Ignoring Upcoming RMDs: Required distributions catch many retirees off guard

🔁 Roth Conversions Done Wrong: Poor timing can create unnecessary taxes

⚠️ Social Security Tax Surprise: Benefits can become taxable depending on income

👨‍👩‍👧 Planning for a Spouse or Heir: Survivor taxes can reshape the financial picture

🏛️ Who Gets the Money?: Without planning, the IRS may get a bigger share

🚀 From Advice to Action: Strategies only work when they’re actually implemented

Read The 5 Biggest Tax Mistakes New Retirees Make in the First 5 Years

https://www.kiplinger.com/taxes/tax-planning/biggest-tax-mistakes-new-retirees-make-in-first-years

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com