Show Notes
What if the taxes you thought would get easier in retirement are actually about to get much harder? Most people assume taxes get simpler once the paycheck stops. David Bezar sits down with Thrive’s in-house financial advisor, Christopher Bak, to explain why the opposite is true and why retirement is where taxes actually get complicated. They break down the difference between tax preparation and tax planning, why the U.S. system is tiered instead of flat, and how the timing of Social Security, pensions, and required distributions can quietly push your retirement income higher than your working income. The T in Thrive’s ROUTE framework stands for taxes, and getting it wrong can cost hundreds of thousands. Listen now.
Timestamped Highlights [00:00:00] The domino effect that can change your entire retirement tax picture [00:02:43] Tax preparation vs tax planning, and why the difference matters [00:03:26] The income myth almost half of retirees believe [00:04:24] How the progressive tax system really works [00:05:23] Why retirement timing is a series of dominoes, not a single date [00:06:01] The $2 million couple whose retirement income beat their working income [00:08:07] The timing change that saved a family hundreds of thousands [00:09:14] Bridging the gap to Medicare when you retire early [00:11:13] Investment income and the two ledgers every retiree should know [00:13:00] The biggest tax misconception that penalizes good savers [00:14:19] The complimentary, no-pressure tax evaluation Thrive offers
Mentioned Resources Thrive Financial Services complimentary retirement and tax evaluation. Scheduling line: 800-516-5861. Book online at thrivefinancialservices.com.
About the Guest Chris Bak, CRPC® is a financial advisor at Thrive Financial Services, with about 15 years in the financial industry across investments, tax planning, and tax preparation. Before financial services he started in nursing school, then realized his passion for helping people was a better fit in retirement and tax planning. He holds the CRPC® designation. 🔗 Connect with Chris: LinkedIn | Website
Important Links Connect with David: Website | LinkedIn How to work with us on Retirement and Advanced Tax Planning Check out our Client Success Stories
Disclosure:
Thrive Capital Management, LLC, is an SEC-Registered Investment Advisory firm. SEC registration does not constitute an endorsement of the firm by the SEC, nor does it indicate a particular level of skill or ability. Insurance products and services offered through Thrive Financial Services, LLC. Thrive Financial Services and Thrive Capital Management, LLC are affiliated companies. For more information please visit: https://adviserinfo.sec.gov and search for our firm name. This podcast for informational purposes only and is not intended as legal, tax, or investment advice, or as a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of publication and are subject to change without notice. Past performance is not indicative of future results.
Any references to protection benefits or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.
Thrive in Retirement is an original production hosted by David Bezar. Brought to you by Thrive Financial Services. Production and editing by Podcast Your Brand.
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