Cover of Why Tax Strategy Is the New Financial Planning | EP 95

Why Tax Strategy Is the New Financial Planning | EP 95

Why Tax Strategy Is the New Financial Planning | EP 95

Listen for free

View show details

Season's Savings | 0.99 €/month for 3 months

5.99 €/month thereafter - terms apply. Cancel monthly.
Summary
 Most people think tax planning happens when they file a return. By then, the biggest opportunities may already be gone. In Episode 95 of Make It Personal, we explain why proactive tax strategy, not once-a-year tax preparation, should be part of every major financial planning decision.We explore how retirement withdrawals, Roth conversions, pre-tax versus Roth contributions, required minimum distributions, Social Security timing, investment sales, charitable giving, and tax withholding can change what you keep over time. You’ll hear how the order of retirement account withdrawals can produce very different tax outcomes, why early retirement may offer a valuable low-income planning window, and how waiting until tax season can leave you with fewer choices.I also share a personal lesson from filing our 2025 federal tax return. Even though our income and overall situation had not changed much, lower withholding left us owing thousands more than expected. That surprise reinforced a simple truth: tax filing reports the past, but tax strategy helps shape the future.This episode is for retirees, pre-retirees, investors, business owners, and families who want to reduce avoidable tax surprises and make smarter financial decisions throughout the year.What You’ll Learn:→ Tax filing versus tax strategy: Why preparing an accurate return is not the same as proactively managing your future tax exposure.→ Retirement withdrawal order: How choosing between taxable, pre-tax, and Roth accounts can affect lifetime taxes, Social Security taxation, and future income.→ The early-retirement tax window: Why the years before Social Security and required distributions may create opportunities for Roth conversions and strategic withdrawals.→ The danger of tax decisions by default: How contribution choices, investment sales, charitable giving, bonuses, and withholding can create unexpected consequences later.Connect with Mutual of Omaha Advisors through the following links:→ Download The Game of the Decade eBook: https://makeitpersonalpodcast.com/free-ebook-page-2→ Download the Seven Principles eBook: https://makeitpersonalpodcast.com/free-ebook-page?utm_source=podcast&utm_medium=allplatforms&utm_mediacode=FCF&utm_campaign=makeitpersonal→ Instagram: https://www.instagram.com/makeitpersonal_podcast/→ Facebook - Mutual of Omaha Advisors: https://www.facebook.com/MutualofOmahaAdvisorsFB→ Sign Up For a Free Financial Strategy Meeting: https://makeitpersonalpodcast.com/get-connected/?utm_source=podcast&utm_medium=allplatforms&utm_mediacode=FCF&utm_campaign=makeitpersonal--Investing involves risk, including loss of principal. This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services, Inc. does not provide tax or legal advice. Please consult with the appropriate professional regarding your personal situation prior to making any financial decisions. Strategies discussed may not be suitable for everyone. Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC. Mutual of Omaha Advisors is a division of Mutual of Omaha Insurance Company.
adbl_web_anon_alc_button_suppression_t1
No reviews yet