Ramp Up to Retirement
The $1 Mistake That Could Cost You Thousands in Retirement
Key Takeaways
- How IRMAA charges can balloon Medicare costs overnight
- The surprising way Social Security gets taxed and why it’s so outdated
- The ACA income cliff that could cost you thousands in health subsidies
- Proactive planning tools to keep your retirement tax-efficient
Show Notes
Did you know that even one extra dollar of income in retirement may trigger higher taxes, Medicare premiums, or health insurance costs?
This week, Dan Reese explains common retirement planning situations where a single extra dollar in income can unexpectedly spike your taxes, Medicare premiums, and insurance costs. From IRMAA surcharges to Social Security taxation rules to ACA subsidy limits, Dan explains how understanding these often overlooked thresholds can help retirees make more informed financial decisions.
He also walks through smart strategies to avoid them, like Roth conversions, withdrawal sequencing, and charitable giving tactics that can help protect your nest egg and optimize your income.
Resources
Carson Wealth Retirement Readiness Quiz
The Danger of Not Knowing What You Don’t Know (Ep. 17)
About the Podcast
You’re nearing your Ramp Up to Retirement, where work will be optional. How do you make the best decisions to set yourself up for success? Tune in to hear from Dan Reese CFP®, Founder, Senior Wealth Advisor at Avery Wealth about the decisions and subtle changes you can make to ensure your retirement is successful!
As you approach life’s next chapter, we’re here to guide you through the intricacies of financial planning. We’ll help you stay focused on what truly matters as you navigate your retirement journey, overcome financial challenges, and leave a lasting legacy.