S4: Episode 8 – Taxes in Retirement – 5 Topics to Be Aware of

Host Stephen Stricklin and Co-Host Paul Brock take on the topic of taxes in retirement in today’s episode, appropriately released on the tax filing deadline date of 2021. An exciting day for some, and dreaded for others, it’s a reality of our financial life we cannot avoid, and certainly a factor to consider when planning for retirement. 

Stephen and Paul take a deep dive into some tax lingo. They bring listeners through five topics pertaining to taxes and retirement: Tax Planning, Effective vs. Marginal Tax Rate, Capital Gains, Social Security benefits and Medicare. They give clarity to these terms, and give examples of scenarios from the point of view of a married couple filing jointly. 

Financial peace comes from having a plan, and having a base understanding of these commonly talked about concepts will help set you up for a successful and peaceful retirement. 

Stephen and Paul Discuss: 

  • Tax Planning; making sure you have a plan to deal with increasing taxes in retirement
  • Effective Tax Rate vs. Marginal Tax Rate
  • Capital Gains; short term vs. long term
  • Taxation on Social Security benefits
  • Medicare; IRMAA 
  • Future FAQ episodes to come 

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