Nobody likes tax season, but for new retirees, the rules can feel completely different. Income changes, required withdrawals begin, and decisions that once lowered taxes can create bigger bills later. Steve unpacks some of the most common retirement tax mistakes and how they show up in real life. A little forward planning can make a dramatic difference over the long run.
Here’s some of what we discuss in this episode:
🧾 First-Year Shock: New income mix changes taxes
⏳ RMD Timing: Waiting can create bigger problems
⚠️ Conversion Mistakes: Overdoing Roth can backfire
📉 Social Security Taxes: Up to 85% may be taxed
👥 Spouse Impact: Income drops, but expenses don’t
0:00 – Intro
1:47 – Tax Planning vs Tax Prep
2:54 – Ignoring RMDs
5:15 – Tax Issues with RMDs
6:45 – Roth Conversion Pitfalls
10:12 – Social Security Taxes
11:47 – Planning for Spouse & Heirs
15:05 – Work with Steve
The 5 Biggest Tax Mistakes New Retirees Make in the First 5 Years
https://www.kiplinger.com/taxes/tax-planning/biggest-tax-mistakes-new-retirees-make-in-first-years
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