The David Lukas Show

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The traditional financial world has instilled in most Americans that the only way to wealth is through doing what they tell you. The major problem here is that, many times, they do not take their own advice and, even more often, their bosses do not follow that advice. Much of the conventional financial world is smoke and mirrors, designed to give you the impression that your money will "work for you" when the reality is that over time, this hasn't come to pass. If what you thought to true...

Episode List

The Big Beautiful Bill

Aug 4th, 2025 3:39 PM

In this episode, David Lukas breaks down the newly passed "Big Beautiful Bill," a sweeping piece of tax legislation signed into law by President Trump. While headlines promise tax-free Social Security and permanent tax cuts, the truth is more nuanced. For retirees, especially those who've saved between $500K and $3 million, this bill creates a four-year window of opportunity for serious tax planning. David dives into: What the bill actually changed, and what it didn't How the standard deduction and senior bonus deduction could shield up to $46,700 from taxes Why Social Security is still taxable for most high savers Strategies like Roth conversions, donor-advised funds, and estate planning to protect your wealth How to avoid hidden tax traps like IRMA surcharges and the widow's penalty If you're between ages 60–75, this episode is a must-listen. Learn how to use the Thrive Planning Framework to respond strategically, before the window closes.

The Retirement Tax Trap – And How to Avoid It

Jul 2nd, 2025 7:08 PM

will go down. Spoiler alert—they often don't. In fact, many retirees find themselves paying more in taxes than when they were working. David walks listeners through the difference between mandatory and optional taxes, reveals why Required Minimum Distributions (RMDs) can cause major tax headaches, and explains how Social Security can be taxed up to 85%—unless you plan ahead. He introduces the Thrive Planning Framework, which includes proactive strategies like: Strategic Roth Integrations Avoiding the Tax Torpedo Planning around the Widow's Penalty Shifting from micro tax prep to macro tax strategy Whether you're in your 60s and still working or already retired, this episode is packed with practical insights to help you keep more of your money and design a tax-smart retirement that thrives with purpose and clarity. BONUS: David also shares upcoming dates for free educational dinner seminars in July and explains how you can schedule a 15-minute tax savings call or a full Thrive Evaluation. 📞 Call: 501-501-7992 🌐 totalwealth.com