How To Create A Tax Plan For Your Retirement

hi everyone the lesson here for money evolution calm in today's video I'm gonna be talking about how to create a tax plan for your retirement so in today's video I'm gonna be walking through a five-step process using a video case study so why is this important and why should you watch the rest of this video well I want you to think for a moment about some of the money that you've saved for retirement if you're like a lot of people you might have a lot of that money sitting in tax deferred retirement accounts like maybe 401k plans or IRA accounts and essentially that's money that you've got to deduct off your income tax return in the year that you contribute it in exchange for that you got to enjoy tax deferred growth over time and ultimately in retirement hopefully you're gonna be withdrawing that money and paying taxes later so what I want you to think about is the money that you have saved for retirement is that money really yours well the answer to that question is both yes and no you see essentially when you contributed that money by deferring those taxes you essentially went into business partnership with the IRS where every year if the IRS gets to decide how much of your profits they get to keep and how much you get to keep in other words what is your tax rate going to be over time and one of the biggest questions that we want to try to address here today and maybe one of the biggest questions in helping you put together this tax plane is answering will my tax bracket be higher in the future than it is today or will it be lower in retirement and I think one of the biggest myths that's out there at least since the time I first heard about retirement accounts or IRAs is that we were gonna be in a lower tax bracket in retirement and that it made sense to deduct those contributions off of our income tax return today because we're gonna be in this lower tax bracket in the future and again I think this might be one of the biggest myths so what I want to talk about here for a moment is a little bit of a history of where tax rates have been in the US and maybe a little insight as to where they might be going in the future so I want to introduce you to this gentleman right here David Walker he was the United States comptroller from 1998 to 2008 essentially he was the CPA for the US government and after he got out of office there he wrote a book come back America went on a couple PBS specials and he basically says that he thinks tax rates are going to have to double based on the Skol path that the US government is on and the reason for that very simply comes down to math you know not surprisingly I think most people realize that we have this huge national debt and it gets bigger every single year this is a chart that goes back to 1950 that shows kind of the virtual explosion of this debt we're now over 20 trillion dollars in the national debt and every year we're adding almost a trillion dollars to the deficit in other words that debts going up by almost a trillion dollars every year and we have this kind of perfect storm brewing where we have this baby boom generation that's getting older starting to go on Social Security and Medicare benefits and that's creating this huge strain on the federal budget we've got fewer workers that are supporting those people that are in retirement people are living longer and we've got of course skyrocketing medical cost which is really contributing to Medicare but let's take a little bit of a history back here when Social Security started just to put this in perspective 1935 we had 42 workers for every one person that was collecting Social Security benefits today that's down to just three to one and then also looking at you know the age to collect is now 62 compared to what it used to be at 65 and of course people are living longer 85 is the average life expectancy today compared to the life expectancy and only 61 back when Social Security first started so again these are some of the things that are putting the strain on the system and every year the Social Security Administration they put out their report talking about what the future like you know longevity is of the program and they said that basically now that according to the way the math works they expect that these trust funds are going to be depleted by 2034 that's not that many years in the future so how will the government kind of shore up these Social Security benefits we've made other videos where we talk about some of the potential fixes to Social Security Medicare but again it this is not just pertaining to Social Security Medicare but it's the entire budget and how are we going to continue to support the federal government one of the things that's out there that I believe is we've got all of this money in retirement accounts in fact as of March 31st 2018 there's now about 28 trillion dollars in retirement accounts that's 401ks and IRAs and every else out there most of that is money that's tax deferred that it hasn't been taxed yet so one of the questions is will there be a chance that the government is going to want to tax that money more in other words they've got this huge pile of money out there that hasn't been taxed yet could they tax that a little bit more well one of the things that they actually had not that long ago was something called the excise tax I call it the success tax because essentially if you had too much money saved up in retirement accounts and you started taking too large of a withdraw and to larges according to what the government thought was too large they would actually tax you an extra 15% on any of those excess distributions the ones that they thought were too large and that was basically in effect for about ten years from 1986 to 1997 until it was finally repealed and just to kind of keep that in mind is that 15% was an excise tax over and above your regular federal income taxes and your regular state taxes so that could easily push somebody up even at today's tax rates you know up you know well above 50 60% or higher in some cases so so that's something that they had unfortunately that was repealed hopefully that will never come back but again those are some of the things that maybe bounced around there as ideas looking historically at tax rates we actually today believe it or not or actually in one of the lowest tax rate environments that we've had at least in the last 50 or 60 years in fact actually from 1932 to 1986 the top federal marginal tax bracket was never less than 50 percent so now with the new tax laws that went into effect this year now we're at about 37 and a half I think is the top federal tax bracket so much lower today on that upper end and so that brings us to some of the tax laws that went into effect on January 1st of this year was called the tax cuts and Jobs Act we think this actually presents a really unique and very special opportunity for us to do some some great tax planning and this is one of the impetuses for me to create this video here today is because I do think we've got some some unique things that we can look at maybe for your tax situation so let's talk first about some of the highlights of the text Act that went into effect this year we basically saw a lowering of the tax brackets pretty much across the board there's a couple small exceptions to that but pretty much across all income tax brackets we saw a reduction there nearly double the standard deduction so that's gonna be very important very big for people that are getting close to retirement maybe as you're losing some of those deductions like maybe your mortgage deduction and things especially going into retirement that's really big for retirees the doubling of that it did eliminate the personal exemption so you no longer get to take that deduction for you and your spouse and your kids they did make an expansion to the child tax credit so a lot of people that previously didn't qualify for that now have that as an opportunity to get a little bit of a reduction there they did make some limitations to the state and local taxes so your state income taxes and property taxes that's now capped at ten thousand dollars a year so for some people that may be in a high tax state that could be a little bit of a limitation there but let's take a look at these tax rates so again you know pretty much across the board they expanded some of the tax brackets in some case so you can actually have a little bit higher income that's kept in that lower tax bracket and again with the exception of maybe a couple of pockets here that start coming in above $400,000 where you've got some small increments where you might be for just that portion of income in a higher tax bracket pretty much across the board we're seeing some nice reductions there so let's talk about some of the things that the government controls we talked about some things that we can control so the government obviously controls the tax rates and that could change in any given year all it takes is Congress to vote on that the president to sign off on it they can change the the tax rate so again those were just changed as of January 1st of 2018 they can control how much of our income is taxed so that's what we're talking about with the deductions and you know the limitations on the state local property taxes so not only can they change the rate but they can control you know how much of our income is essentially subject to tax and then they can control the some degree the distributions from a retirement account so in case you didn't know already the IRS has a rule called the required minimum distribution rules that you have to start taking money out of your tax deferred retirement accounts beginning at age 70 and a half and so that's one of the things we're going to talk about as we get into the case study is how does that impact those future tax rates so they can control that we can control where we save money we're gonna talk about Roth contributions versus traditional contributions versus non retirement the three buckets as we like to say we can control the some degree the timing of our withdrawals so although the IRS puts some very strict limitations on after 70 and a half we can have some control over that before that time and pre-k fix some of those potential tax problems that might be coming down the road and then we can also control when we can collect Social Security and by doing that we can control our income we can also control some of those tax rates especially as we go into retirement all right so let me introduce you to George and Susan our video case study couple George and Susan are both fifty-four years old they both work full time they have great jobs they're both maxing out their traditional 401k contributions they want to retire at age 62 eight years from now they just paid off their house their kids are finishing up college and because of all that their cash flow has really started to improve that's actually something that's pretty typical as people get into their 50s they're paying off some debts they're maybe kids move out of the house and their cash flow does tend to improve and that's certainly the case here for George and Susan now let's take a look at their other income and assets so again we said they had great jobs in fact their total household income between the two of them is $250,000 a year they also have total liquid investable assets of a million seven hundred fifty thousand dollars and that's split between some bank savings and non retirement accounts they also have their 401k plans at work and then Susan also has an old 401k plan that she rolled over into an IRA account so we're gonna talk about some strategies of what she might be able to do with that also the next thing we want to do is we want to start to look at those assets and separate those into what we call our the three primary tax pockets and this is certainly something that you could follow along and do with your own assets as well but the first bucket that we want to look at is called the tax now bucket or where your non retirement accounts are and for George and Susan again they have $350,000 in that bucket you know if you got money in the non-retirement bucket if you get that 1099 form every year and it's gonna be your dividends your interest your capital gains and any thing that does accounts make on an annual basis you're gonna have to pay taxes on that the second bucket is what we call the tax later bucket or your traditional IRA or 401k accounts and for George and Susan that's where most of their money is in fact that's what we typically find is that a lot of people have the majority of their retirement assets in that traditional bucket so a million four hundred thousand dollars there and that's money that typically gets contributed on a pre-tax basis grows tax-deferred but then ultimately you'll pay taxes on whatever you withdraw out of that account in retirement that's also going to be the amount that or the accounts that are going to be subject to those RMD rules which we're going to talk a little bit more about as well and then the last bucket is what we sometimes call the never tax bucket that's something we use kind of tongue-in-cheek it's not really totally accurate because of course the monies that go into the Roth accounts are taxed first but then they do grow tax-free and are withdrawn tax-free as long as they meet the IRS is definition of what's called a qualified distribution and George and Susan don't have any money in that account primarily because they make too much money to contribute to a Roth account but stay tuned we're gonna talk about a couple of strategies that even though they're over those Roth IRA contribution limits they can still get money into a Roth a bag that's going to be one of the primary strategies as we get into those five steps that we're going to talk about here now let's talk about where their money is going so we talked just in the last slide about where their money currently is here we're gonna see where is that money going on an annual basis we talked about their 401k contributions George and Susan have forty nine thousand dollars a year going into those traditional 401k accounts and they're maxing those out according to the IRS rules for 2018 the tax now bucket is where some of their excess surplus of cash flow is going so again we said their cash flow is improving so after they maxed out their 401k they still had some money left over any of those monies are now going into that traditional or that tax now bucket there and building those account balances up and again nothing is going into the Roth's at this time so let's talk about some goals that we have for the case study here and these are some goals that you might want to keep in mind too as you're putting together your tax plan first of all like I said before one of the most important things to understand is what is your tax bracket today versus what is that tax bracket going to be in the future and forecasting that or getting some ideas is probably the most important thing to know as you're putting together this tax strategy we want also want to look at how do we create a little bit more balance between those three primary tax buckets this is going to be especially important as you go into retirement because we want to have a little bit of what we call tax diversification if you want to take a distribution maybe you want to buy a new car take a vacation having money in all three buckets gives you some choices as to where you can take that distribution and what that's going to do it to your income tax bracket net or income tax not only at that time of taking the distribution but also what is that going to do in the future as well we also want to look at those RMDs we want to understand a little bit about how the growth of especially those traditional accounts is going to go and what those RMDs are going to be in the future what that could do to your tax bracket down the road and if we can maybe try to reduce the impact of those RMDs on the tax situation in retirement and then last but certainly not least we also want to look at the other thing we can control which is your social security and how do we coordinate the social security not only with your cash flow needs in retirement but also with that tax strategy as well and so with that let's talk about predicting your future tax bracket so we talked about George and Susan their 2018 total income was $250,000 for the year we're gonna say that their taxable income the amount that subject to tax is twenty two hundred twenty-six thousand dollars and also we did there was we just subtracted the standard deduction off of that total tax and so we kept things pretty simple here you might have an income that's higher or lower than that you may have more deductions than George and Susan but this is just gonna give us some frame of reference as we're looking at some of these things here so this is the tax table that we had pulled up earlier and what we want to do here is we want to see where Georgia is taxable income of two hundred twenty six thousand dollars Falls not only into this year's tax rate but also where that tax rate fell for 2017 because in 2025 we're gonna go back and sunset back to those old tax laws unless Congress does something and changes the rules again but that'll at least give us some perspective as to what the future tax rates are going to be so George's tax rate of our taxable income of two hundred twenty six thousand dollars falls right into the twenty four percent tax bracket on fact they could make all the way up to three hundred fifteen thousand dollars under the new tax laws and still be in that same bracket under last year's rule they were actually pretty close to the upper end of the bracket so under the two thousand seventeen tax rates they were at twenty eight percent but if they made just ten thousand dollars or about ten thousand dollars more they would have actually gone into that next bracket which would have been the thirty three percent tax bracket so so a couple things to think about is not only you know what is that tax rate today what is the tax rate going to be once those rates sunset but we also want to think a little bit about what your income is going to be or likely to be in retirement so they're making a taxable income right now of two hundred twenty six thousand dollars they would actually even if we went back to the old tax rate have to go all the way down below one hundred sixty five thousand dollars to go into that next lower tax bracket so that might be the case for George and Susan but we're gonna assume that they want to keep their income or at least their standard of living pretty consistent in retirement with what they had while they were working and I think that's going to be typically the case for most people as well that most people we don't see jumping into one tax bracket or another just because they're in retirement unless they're very close to the bottom end of one of those brackets all right so now let's talk about the strategy what are the five action steps that we can look at for George and Susan some of these action steps might apply to you some of them may not maybe all of them do or hopefully at least a couple of them do but anyway this at least give you some idea of some of the things that we're thinking about as we're helping somebody create a tax plan so number one is we want to look at where you're contributing your money and for George and Susan remember the majority of their savings was going into those true retirement accounts forty-nine thousand dollars a year the limit is twenty four thousand five hundred per person so again doubling that you know for George and Susan get you up to that forty nine thousand dollar limit and again what that's doing is it's putting a lot of money into traditional accounts and those balances are building up and that's gonna potentially create a big tax issue for them in retirement especially once we start looking at the required minimum distributions so instead the recommendation might be to look at contributing to a Roth 401k plan instead of the traditional 401k now not all 401k plans offer a Roth but we're finding that most do now especially be worked for a bigger company hopefully your plan does but if you have a lot of your retirement savings in those traditional accounts maybe rethink that and maybe contribute to the Roth instead of the traditional accounts strategy number two is we want to look at are there any opportunities to convert some traditional accounts over to Roth accounts and if you remember George and Susan's situation here we look at their assets susan has that old 401k plan that's now an IRA so that would technically be the only balance that she would be able to convert over to a Roth but we want to look at if we took that $200,000 and converted it over to a Roth and again the idea with that is that we're in a twenty four percent tax bracket for George and Susan today compared to a twenty eight percent tax bracket of when those rules sunset so even if tax rates just go back to the old rules they're looking at potentially a four percent reduction in taxes by paying the taxes now instead of waiting and paying the taxes later in retirement again that's not even taking into account the possibility like what David Walker was suggesting that tax rates could go up a lot so so here we want to look at converting that and what we want to do is maybe not necessarily convert all two hundred thousand dollars of that IRA account over immediately but we want to see you know where they're at again inside their tax bracket and maybe phase that in over a couple of years so if we added two hundred thousand dollars to their taxable income that's going to put them up over four hundred thousand dollars of taxable income 35% tax bracket that's something that we just don't want to do so what we're going to do is we want to see how much room is there in your tax bracket or in their tax brackets so again they have two nor $26,000 of taxable income the upper end of their tax bracket is three hundred fifteen thousand dollars so that's the point where they would shift from going out of that twenty four percent tax bracket and remember last year 2017 they could have only made about another ten or twelve thousand dollars before they got into that next tax bracket so again that's why this tax cuts and JOBS Act is really I think a very special opportunity so for them they could convert up to another eighty-nine thousand dollars from their traditional to a Roth and still only pay taxes at that twenty four percent tax bracket so so for George and Susan again the strategy here might be to phase that in recognize where we're at in the bracket how much room do we have and maybe do that over a three four even a five year time period but again we want to do it before 2025 because that's when those tax cuts and Jobs Act tax rates sunset number three is we want to look at the social security strategy that you have and in particular how that social security strategy impacts your taxes so one of the big mistakes that we see all the time is that people retire and then immediately as soon as they're eligible in age 62 they go and turn on their social security benefits in fact actually according to Social Security we know that's what most people do because that's what Social Security reports is that a lot of people just turn on those benefits right away but by delaying those Social Security benefits to at least your full retirement age which for most people probably watching this video is probably going to be age 67 that's going to give you as long as you have some good longevity probably higher long-term lifetime Social Security benefits over your entire life and not only that but it's also going to allow us to do some other tax planning which we're going to talk about here in a moment but to keep you in some lower tax rates early in retirement so that we can look at Roth conversions and some other strategies to maybe shift again our assets that we have and maybe even out some of those tax buckets so number four is exactly what we're just talking about they're shifting some of those non retirement assets to tax-advantaged retirement accounts there's a couple different ways to do this but if you think about it any money that you have in that tax now bucket is really the most inefficient of those three tax buckets because again because you have to pay taxes every year on on those account balances those accounts are never going to grow to as large of a balance as an account that's either tax deferred as in the case of the traditional accounts or the tax-free accounts in the case of the Roth so a couple things you can do is we're going to talk about the backdoor Roth strategy so again we talked about George and Susan they made too much money to contribute directly to a Roth but there is a way that you can still do that so I'll talk about that here in a moment we're gonna talk about an after-tax conversion that's something special that some 401k plans allow their employees to do I'll get into a little bit more detail on that and then the other thing I won't get into as much detail on but HSA is the health savings account so that is an account that you might have available to you through your employer and it's for high deductible insurance health insurance plans can allow you to put money into this HSA and that's what we call double tax-free because you not only get a tax deduction as the money goes in but as long as the money is withdrawn for qualified medical expenses you're not paying any taxes on the gains along the way either and let's face it we all know that health care costs are going up and in retirement in particular as we get older we have a higher need for some of those health care services and having some money in an HSA is a great way to help fund some of those healthcare costs for your retirement so let's talk about some of the Roth IRA rules and one of the big ones is the IRA contribution limit if you make too much money the IRS says you can't contribute directly to a Roth so for single tax filers if you make over $120,000 a year your ability to contribute starts to get phased out and then over a hundred thirty five thousand dollars you just can't contribute to a Roth at all directly if you're married filing a joint tax return that starts to get phased out at one hundred and eighty nine thousand dollars a year and it one hundred ninety nine thousand dollars or above you can't contribute directly to a Roth so for George and Susan having taxable income of two hundred twenty six thousand dollars a year they do not call five for making a contribution to a Roth IRA but what you can do is you can do something that we call the backdoor Roth strategy and it's to make a non deductible contribution to a traditional IRA account and then immediately convert that over into a Roth there is something called the pro rata rules that apply to this so I'm not going to get into all the details but for George and Susan this is something that George can do but for Susan it's going to get a little bit more complicated because she already has that traditional IRA account the IRS is going to look at all of your IRA assets as one account so even though you might make a non deductible contribution to a regular IRA they're still gonna look at it as that is one piece of an account that includes that $200,000 that Susan already has gets a little messy I guess I've got some other videos that I get into the details on that but it's probably not something that you want to do if you have existing IRA accounts but for George because all of his retirement accounts are all in that traditional 401k those pro-rata rules are not going to apply to George so he can contribute because he's over age 50 he can contribute sixty five hundred dollars a year to that Roth and that's something that he can maybe use some of those non retirement accounts to fund that Roth contribution strategy another one that's really great and this is something that more and more 401k plans are offering and it's something that they don't really talk about a lot so your 401k might have this and you might not even know that they have this but in 2014 the IRS made a clarification on which was previously kind of a gray area and what they said with IRS tax notice 2014 - 5 4 is if you have money in an employer-sponsored after-tax retirement account you can now roll that over directly into a Roth IRA account and as soon as I saw that we started immediately talking to clients about that we think it's one of the best things out there we're here in Detroit we've got a lot of automotive companies and and those companies offer this for their plan so for GM and Chrysler they have this after-tax savings account and it's an opportunity for people that don't qualify for a Roth or maybe are already maxing out some of their other contributions they can get some money into this account here and again not all 401k plans have this but it's definitely something to look at so how much can you contribute well the IRS of course has their contribution limits which we know are for people over the age of fifty twenty-four thousand five hundred dollars a year that's how much you can contribute to either the Roth or the traditional 401k if you're under 50 that's set at 18,500 those are the 2018 limits those generally go up every year or two as inflation kind of factors in there but your total contribution levels are set by the IRS at much higher levels so for people under the age of 50 that's set at $55,000 per year if you're 50 years old or older it's set at 61 thousand dollars a year and so how this works is it's going to be the combination of your traditional or Roth contributions you have to add in any match that the company is putting in on your behalf and then whatever that difference is you can put in two according to the IRS money into an after-tax account so let's take a look at an example because I think it'll make a lot more sense here we're gonna assume if you're 50 years old or older the maximum contribution into the plan is sixty one thousand dollars a year we're gonna assume the you're maxing out that twenty four thousand five hundred into either the Roth or the traditional the employers are matching six thousand dollars let's say hypothetically and that leaves thirty thousand five hundred dollars that's eligible according to the IRS rules of how much could go into that after-tax account now your employer might have their own set of rules or restrictions I know some of the companies around here they limit that to not the amount the IRS says but they limit that to ten percent of your earnings can go into the after-tax bucket so there are some other restrictions we need to keep in mind there but basically for George and Susan what they could do is they could contribute George can contribute so money to this account and then roll that balance over directly into a Roth IRA account on an annual basis and get some more money into those tax deferred accounts and maybe even use some of the non retirement account assets to kind of fund any cashflows shortages that he has by putting more money into the plane at work so it's another opportunity to do that I do have a slide here for the HSA contribution limits so again this is something that you have to have a high deductible health insurance plan but the limits if you're single thirty four hundred thirty three thousand five hundred forty dollars per year and if you're on a family plan at six thousand nine hundred dollars according to the 2018 rules so there's another chunk of money that you could put in use that as a tax advantage for your health savings and also to fund some of those health needs in retirement as well okay so let's recap what we just did here with strategy number four if we look at George and Susan George can use the backdoor strategy to contribute sixty five hundred dollars a year to his Roth IRA account by first contributing to a traditional then immediately converting it over to a Roth we're gonna assume that maybe George has the ability to use that after tax strategy through his company's 401k plan if his employer let him do ten percent he could do sixteen thousand dollars per year contribute that to the after tax through his employer and then once a year so roll that money out of the employer sponsored after tax account directly into his Roth IRA that's per that tax ruling that happened in 2014 and what we're gonna try to do here is maybe use some of those non retirement assets to fund this whole strategy because all of a sudden we start contributing money to a Roth and then you're doing it after tax that might leave George and Susan a little bit with a shortfall in their cash flow but again they have that three hundred fifty thousand dollars in those non retirement assets they can use and spend some of that money but ship that money into being a little bit more tax efficient okay so now let's wrap up and start talking more specifically about creating your tax plan for retirement there's four things that I think you're going to want to do number one is you want to have a pretty good idea of what your retirement expenses are and we've got some tools available on our website to help you do this but that's going to be very important to know how much your retirement could cost number two is we want to anticipate some of those cash flow needs those cash flow needs are going to go into the withdrawals potentially that you need take out of those retirement accounts withdrawals are gonna also dictate your taxes that you're going to have to pay on those distributions as well we want to look ahead to your required minimum distributions so along those lines as you're starting to take money out in retirement how much money is left in those retirement accounts and what are those forced RMD is going to be after you reach 70 and a half and will that potentially push you up into a higher tax bracket and then finally last but certainly not least we talked about this earlier probably the most important thing to understand and it requires you understanding those first three elements as well but what is your tax bracket today versus what is that tax bracket going to be in the future and that's where a lot of that planning comes in so we have a tool to help you with all of this it's called wealth vision and if you've watched any of my other videos you might have heard me talk about it before but it's our comprehensive financial planning tool and there's five very specific things that we think wealth vision can do for you number one is to help you get organized so if you're like a lot of people you might have a lot of different financial resources maybe they're scattered in a bunch of different places well we have a very specific way that we're gonna help you organize that information in a way that's gonna be easy for you to understand and it's gonna help you make more confident decisions about all of the other things pertaining to your retirement number two very important is we're gonna see if your retirements on track you know if you're on track for meeting some of your financial goals and the lifestyle that you want to achieve in retirement we're gonna identify your gap so if there are any shortfalls we're gonna identify those the earlier that you get started with a financial plan the smaller changes that you can make that are gonna hopefully put you on the right track for eliminating or reducing some of those gaps in your retirement we're also going to get into some of the things we talked about here today we're gonna talk about your tax rates what are your tax rates today versus what are your tax rates in the future again that's one of the most important things to understand and it's gonna go into your savings strategy should you be putting money into a Roth or traditional account those are all the things we're gonna look at and then last but certainly not least since we're talking about taxes we're gonna walk through that five-step action plan to look at how we might be able to help you create a plan for your taxes in retirement as well so if you're interested in that we offer a free no obligation introductory call that's with me generally we spend about fifteen or minutes answer any questions that you have we'll talk about a little bit about your situation what well vision might be able to do for you and quite honestly if it's a fit we'll talk about some next steps and what we might do to go forward so if you're interested in that you can call our office at two four eight seven three one seven eight two nine or we'll have a link right below this video if you click on that it'll offer some additional information about wealth vision and the opportunity to schedule an appointment right through our online scheduler so I hope you got some great value out of today's video I know this was a little bit longer than some of the other videos we've done in the past but lots of great information and again I think we've got a very special opportunity right now with the current tax environment that we're in so with that I have a great day and I look forward to seeing you back in one of my next videos Thanks you

Channel: Money Evolution

Views: 87,045

Keywords: yt:cc=on, retirement, retirement planning, taxes in retirement, financial planning, tax cuts and jobs act, retirement taxes, financial plan, tax planning, tax planning for retirement, taxes in retirement planning, tax planning strategies, tax planning strategies for high income earners, tax cuts and jobs act 2018, tax cuts and jobs act youtube, tax cuts and jobs act explained, tax planning for individuals, personal finance, investing

Id: ivNAfZNmUTc

Length: 34min 27sec (2067 seconds)

Published: Tue Sep 18 2018