Age 60 with $2,000,000 – How can we potentially reduce our taxes in retirement? (5 Potential Ways Explained!)

In This Video:

So you’re 60 years old and have been able to save $2 million for retirement, but you’re wondering how much of that money you’ll be able to keep after taxes. People ask us all the time about ways they can potentially reduce the amount they’ll have to pay to the IRS over their lifetime.


Things to Consider:

In this episode, we’ll take you through a sample case with a hypothetical couple in a similar position and show five ways in which they could potentially reduce taxes in retirement. This will allow them to keep more of their hard-earned money in their pockets, which will give them more flexibility in retirement.


Here’s some of what we discuss in this episode:

0:00 – Intro

0:42 – Sample case details

5:40 – Tax projections

13:20 – Strategy #1 – Contribute to a Roth

14:38 – Strategy #2 – Roth Conversions

18:08 – Strategy #3 – Asset Location

20:51 – Strategy #4 – Delay Social Security

22:23 – Strategy #5 – Donor Advised Fund


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