The Power of Diversifying Your Retirement Accounts By Taxability
If you could save tens of thousands of dollars in taxes every year, you’d have more freedom to pursue what truly matters- whether it's travel, hobbies, or leaving a financial legacy. In this episode, Erik explains how diversifying your retirement accounts by taxability can help you do just that.
By building a mix of IRAs, 401(k)s, Roth IRAs, and non-qualified brokerage accounts, you gain more control over how and when your income is taxed, helping you protect your wealth from future tax hikes and legislative changes.
Tune in as Erik walks you through the tax rules for each type of account, the risks of relying too heavily on pre-tax retirement savings, and how a strategic approach to withdrawals can help you minimize taxes. Whether you're just starting to plan or approaching retirement, these strategies will help you make tax-efficient decisions and preserve more of your hard-earned wealth. Don’t leave your retirement at the mercy of future tax laws- learn how to take control today!
Here’s what we discuss in this episode:
0:00 – Intro
1:16 – Pre-tax and post-tax accounts
6:06 – Strategies for tax-efficient distribution
10:49 – When to start diversifying accounts?
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Investment Advisory Services offered through CreativeOne Wealth, LLC, a SEC registered investment adviser. CreativeOne Wealth, LLC and Bowman Financial Strategies are unaffiliated entities.
Licensed Insurance Professional. We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. 19770 - 2020/2/10
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