Once They Learn This, Retirees Stop Worrying About Taxes

Comments · 279

• RO

  @ropersix · 10 months ago

  The wash-sale rule only applies to stocks sold at a loss, so it's okay to sell a stock for a gain, and turn around and re-purchase it right away.

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• BA

  @BamaWig · 9 months ago

  I really appreciate you doing an example using a single retiree.   So many of these type videos on yourtube don't really work when you cut the tax brackets in half like what single people deal with.   My only concern with this one is that if you do have a sizable amount of pre-tax investments all these hacks could set you up to get slammed later once all the after tax stuff is hacked away.   Especially when you hit RMD years.   Its possbile that might still be optimal but its also very possible you could improve the plan overall by dealing with some of that pre-tax portfilio earier.   Especially during your pre social security and pension years if you retired early.

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• TX

  @txreal2 · 10 months ago

  I&apos;m only 61 and just thinking about all these tax laws is taxing my brain.<br>Am I the only one believing that US tax laws extremely complex, difficult to follow, and broken for retirees?

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• GU

  @GustavoBoschi-v9v · 10 months ago

  A key hidden tax bomb with this approach to only taking up to the standard deduction from the IRA is that you will eventually be forced to take more money when RMD kicks in. So perhaps filling up higher marginal tax brackets up to 22% from 62 to 75 would shave off the &nbsp;RMD at 75 to a reasonable amount. &nbsp;Rich people likely have multi-million invested in pre-taxes that need to be depleted to minimize the required distributions beyond what they need.

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• JM

  @jmg2183 · 10 months ago

  Your videos are great. I watch them religiously. Thank you

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• J.

  @j.s.212 · 10 months ago

  Love the tax minimization/optimization discussion. &nbsp;Well done! &nbsp;I built a spread sheet with all these inputs to see impact on taxes. &nbsp;It has become a fun game to see how I can pay less taxes to the Fed - without creating a tax time bomb down the road.

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• GU

  @GuySkellenger · 8 months ago

  at 7.3 a real important point. If you don&apos;t maximize your long-term cap gain annually in a taxable acct. its gone and resets next year. It&apos;s better to realize your max LT gains in a taxable account (at 0% tax liability) yearly, then consider pulling from deferred accts. That annual cap gain harvest is a use it or lose it proposition. much like my uncles advice on sex.

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• GO

  @go2gym · 10 months ago

  Wash rule only applies to losses. &nbsp;Not gains.

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• JO

  @jonlynch · 4 months ago

  This video needs at least a million views.

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• KA

  @karencampbell8248 · 10 months ago

  This strategy might be the very best thing for a short period of time, perhaps 4 years but he is spending the Roth down too quickly and won&apos;t have that benefit in intermediate to later retirement and the IRA will keep compounding and his RMD&apos;s will be higher in the future. &nbsp;Not sure that big picture long term, this is really the best strategy.

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• SH

  @sherrylynnbishop8007 · 5 months ago

  I wish every time you said &quot;rich&quot; that you would say &quot;smart&quot; instead. &nbsp;A person with a more modest portfolio could do these same steps.

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• JO

  @JoeSmith-n7v · 10 months ago

  Wash sale rules only applies to capitol losses not gains

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