Most people don’t realize there’s an ideal amount to keep in pre-tax retirement accounts—and going above or below it can dramatically increase your lifetime tax bill. In this video, I show couples and single retirees how to find their “sweet spot” for truly tax-free income by aligning RMDs, Social Security taxation, and the standard deduction. You’ll see real examples, why the traditional “max out pre-tax” advice often backfires, and how to calculate the exact IRA balance that keeps your withdrawals tax-free. If you want a retirement plan that protects your Social Security, reduces taxes, and gives you more control over your income, this video is your roadmap.
00:00-Intro 01:30-Why the Standard Deduction Is the Key 02:50-Why Having Too Little Is Also a Mistake 03:54-Social Security and your RMD 05:14-Marsha and Don: The Tax-Free Sweet Spot 08:10-Jennifer: (Single/Divorced) 10:28-Why This Number Is Only the Starting Point 11:10-Why Planning Ahead Matters So Much 11:45-The Bottom Line
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[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.
I provide financial planning for business owners and their families that makes sense.
Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be.
We strive to help you: *Optimize Your Cash Flow *Minimize Your Taxes *Build Your Net Worth *Create a Lasting Legacy
Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe and I'll see you in the comments!
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DISCLOSURES Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.
Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.
This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.
Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.
Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.
Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.
