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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Tax Panning in Retirement
Posted on 08/15/2006 00:49 AM | Link | Post Comment
Tax planning in retirement is a complicated business, so you may need expert help. If you don't have to take minimum required distributions from your IRA or 401(k) plan yet, it makes sense to leave that money tucked in its tax shelter as long as possible. Rely on social security, pension benefits and money produced by taxable accounts before invading tax-sheltered accounts.
Remember that when you draw money out of a taxable account, it goes much further than when you pull cash out of a tax-deferred account. Why? Because you've already paid at least part of the taxes on assets stashed in a taxable account. Everything coming out of an IRA or company plan is taxable (unless you made nondeductible contributions or are tapping a Roth IRA).
Retired individuals investing in bonds should first read The Bond Bible by Marilyn Cohen. Three sites that I have used successfully for purchasing government bonds are www.publicdebt.treas.gov/sav/sav, http://www.treasurydirect.gov/ and http://www.investinginbonds.com/. You will want a portion of your retirement funds in fixed-income (Bonds) either directly or indirectly through mutual funds.
As a broker, I made more money buying and selling acting as “principal” and not “agency” because the mark-up and mark-down is HIDDEN from the client. Please buy direct or through a broker acting as an agency. This is one of these least understood and most confusing issues facing the individual bond buyer today. Mark-up is how the broker makes a commission and affects your bond yield at purchase.
Here are Model Portfolios for Retirees: Five allocation options, from preservation to aggressive growth.
Remember that when you draw money out of a taxable account, it goes much further than when you pull cash out of a tax-deferred account. Why? Because you've already paid at least part of the taxes on assets stashed in a taxable account. Everything coming out of an IRA or company plan is taxable (unless you made nondeductible contributions or are tapping a Roth IRA).
Retired individuals investing in bonds should first read The Bond Bible by Marilyn Cohen. Three sites that I have used successfully for purchasing government bonds are www.publicdebt.treas.gov/sav/sav, http://www.treasurydirect.gov/ and http://www.investinginbonds.com/. You will want a portion of your retirement funds in fixed-income (Bonds) either directly or indirectly through mutual funds.
As a broker, I made more money buying and selling acting as “principal” and not “agency” because the mark-up and mark-down is HIDDEN from the client. Please buy direct or through a broker acting as an agency. This is one of these least understood and most confusing issues facing the individual bond buyer today. Mark-up is how the broker makes a commission and affects your bond yield at purchase.
Here are Model Portfolios for Retirees: Five allocation options, from preservation to aggressive growth.
- Are Financials Suddenly Cheap? Part Ii
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- Top 10 Sectors & Stocks By Relative Strength (weekly Update)
- Short-Term Sell Signals Given
- "Who Is Next?" By Dick Bove
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- Millionaire Now!
- The 7 Steps to Millionaire Now!
- Build Your Financial Plan
- RETIRE RICH: Survival Guide
- ASSET ALLOCATION MODEL
- THE BIG ROLLOVER IS HERE
- THE END OF THE GRAND SUPERCYCLE?
Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Fri Jul 18, 2008 08:23AM
U.S. stock futures rebound on Citigroup results"S&a [read more]
U.S. stock futures rebound on Citigroup results"S&a [read more]
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