The Year You Retire

Join hosts John Bever and Jim Uren in episode 17 of The Year You Retire podcast as they tackle the crucial question: "Do I have to pay taxes on my Social Security income?" This episode dives deep into the intricacies of how the IRS handles Social Security in retirement, offering valuable insights on how to minimize or even eliminate these taxes. The duo also sheds light on the infamous "Social Security tax torpedo," explaining how it can significantly impact your tax bill and what you can do to

Are you feeling lost with the new required minimum distribution (RMD) rules for IRAs and qualified retirement plans? Do you know when you have to start taking your RMDs and how much you need to withdrawal? Do you want to discover strategies to reduce your taxes on these distributions? Tune in to this episode for clear explanations and actionable advice! We'll cover the essentials of RMD regulations, how to navigate your lifetime income tax brackets, the impact of the Social Security tax torpedo,

Did you know that paying off your mortgage before you retire might not always be your best move? In this episode of The Year You Retire, Jim Uren and John Bever delve into the hot topic of whether to pay off your mortgage before retiring. They discuss the advantages of being mortgage-free, such as potential interest savings and improved cash flow, but also emphasize the liquidity risk and misunderstood historical fears associated with mortgages. They discuss the importance of considering indivi

Did you know that your retirement years are often accompanied by large capital gains tax bills? Do you know if you have the proper strategies in place to help reduce the damage that capital gains taxes can have on your portfolio? If you’re not sure you’re doing all you can to save big on your capital gains tax bill, then this episode is for you. In this eye-opening episode of The Year You Retire podcast, hosts John Bever and Jim Uren delve into the intricacies of capital gains taxes and the str

Are you married, widowed, or divorced? If so, then you may be eligible to receive Social Security Benefits based on your spouse's or former spouse's work history even if you have also earned your own Social Security benefits. But unfortunately, understanding and claiming these benefits can be very complicated. And once you request benefits, the Social Security administration rarely lets you fix a mistake, even if that mistake means you miss out on thousands of dollars of income every year in ret

Are you looking for a tax strategy that may help reduce the amount of taxes you pay during retirement? How about a strategy that may help increase the lifespan of your retirement portfolio? If so, then a Roth conversion may be the right move for you. In this episode of The Year You Retire, hosts John Bever and Jim Uren delve deep into the world of Roth conversions. They reveal the potential tax savings that a well-timed Roth conversion can provide during the retirement years. Through their insi