Ep 86: Age Gaps & Life Insurance, Taxes on an Inheritance, Tax-Efficient Investments for Non-Retirement Accounts – Mailbag Episode

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Show Notes

It’s time to open up the mailbag again and answer some of your financial questions on the podcast, and we have a few really good ones to tackle today. Whether you’re in retirement or getting close, there will be some good information that we think you’ll relate to with your own financial planning.

So a few of the things we’ll address on this episode are whether or not you need life insurance in retirement, how to inherit different account types and manage the taxes associated with each, and what to do about taxes in a brokerage account generating dividends.

We always enjoy having conversations about taxes because it’s our goal to help you keep as much of our own money as possible. This episode will hopefully help you understand some of the tax strategies we discuss with our clients.

Here’s some of what you’ll learn in this episode:

  • Do you need life insurance in retirement if you have a significant age gap with your spouse? (2:14)
  • The natural transition from life insurance to long-term care insurance in retirement. (9:41)
  • Tax planning strategies for accounts paying consistent dividends. (12:19)
  • Is it worth choosing capital appreciation investments over dividend-paying investments? (16:30)
  • What you need to know about inheriting different types of accounts and the taxes that you have to pay. (19:55)
  • Why you might be benefit most from taking advantage of the step-up in cost basis. (24:13)

Thanks for checking out this episode of the podcast. If you’d like to learn more about financial and retirement planning, check out our YouTube channel here.



Taxes Photo