Ep. 14 – Connecting Your Retirement and Tax Planning

Do you know how tax could affect your retirement plans?

When planning for your retirement, it’s important to consider how tax can impact your financial future.

In the previous episode of the podcast, Tom helped us define some common tax terms and gave some fantastic advice on managing your tax before and after retirement. In this follow-up episode, Radon, Murs, and Morgan talk about putting CPA Tom Turner’s tax and retirement advice into action. We break down how tax can affect your retirement income plan’s different assets, so you know what to expect as you move towards retirement.

In this episode, find out:

  • How tax brackets apply to your retirement income plan
  • The tax differences between your primary home and your vacation home
  • What stock dividends are and how they’re taxed
  • The issue with mutual fund dividends
  • Why you shouldn’t rely on dividends as part of your retirement income plan
  • When you should start taking your Social Security
  • How required minimum distributions and charitable donations factor into your retirement income plan

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Tweetable Quotes:

“We’ve changed minds on the right the right way to take Social Security because of how we look at it.”

“You can take a portion or even all of your RMD and give that to a charity and it’s now tax-free.”

“We encourage all of you, any of you that are within ten years of retirement, or already in retirement, to make sure you have a written income plan.”


If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement.

To access the course, visit https://pomwealth.net/podcast

To receive our free book, Get Off the Retirement Rollercoaster, leave this podcast a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net