This session will combine the financial planning aspects of a successful retirement with the tax strategies that can contribute to that goal. A variety of retirement planning tools and requirements will be addressed from both the financial and tax perspectives, including social security collection and deferral, timing of distributions from qualified retirement plans and IRAs, beneficiary designations, annuity products, Roth conversion concerns, etc.
Focus on reasonable savings and spending objectives of retirees.
Address how social security benefits and other retirement plan withdrawals should be viewed.
Understand minimum required distributions – how determined, when required and how they are taxed.
Emphasize avoidance of costly unnecessary penalties.
Consider how to maximize tax planning options for retirees.