If you have a pension, you might find yourself tipping Uncle Same through taxes if you don't plan well. In this episode of Joe Knows Retirement, Joe shares strategies you can use to lower the amount of money you pay in taxes, especially if you have a pension. From smarter ways to allocate your investments to specific tools like Roth conversions, Joe talks about it in this episode.
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Timestamps:
00:00 Intro
01:18 Are you in the 2% Club?
02:32 Tax location
10:54 Roth conversions
15:25 Donor Advised Fund
16:53 Lump sum/partial lump sum option
19:24 Widow's penalty
Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is a Securities and Exchange Commission registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.