Ep 3: You’ll Be in a Lower Tax Bracket When You Retire – Busting Financial Myths, Part 3

Now we move to part three of a five-part series about financial myths and this episode focuses on taxes. Once we finish working, it’s easy to assume that our taxes will drop because we’ll move into a lower tax bracket. Well, that’s not the case. Find out why your taxes might increase and what strategies you can use to offset that.

Today's rundown:

1:10 – What’s in store on today’s show and introducing part 3 of the series.

2:12 – Mailbag question: My retirement accounts have done well recently, but I don’t really know what it should be doing. How do I know if my money is doing what I need to do?

3:30 – What’s a good average rate of return to shoot for in a strong market?

4:20 – Returning to our series on ‘Busting the Biggest Financial Myths’

4:51 – Myth: You’ll probably be in a lower tax bracket once you retire.  

5:42 – We can’t assume taxes are going to get any lower.

7:07 – Strategies you can use to take advantage of lower tax rates now.

8:44 – How Social Security impacts your taxes.

9:57 – How we help clients that want to see how taxes impact retirement planning.

To get the full show notes and see additional resources, click here.