How to Retire: Prioritize Tax Planning in Retirement

Jeff Levine discusses how to lower your in-retirement tax bills. Christine Benz, Morningstar’s director of personal finance and retirement planning, interviews financial experts about different aspects of retirement in ‘How to Retire,’ the companion podcast to her book of the same name. In this episode, Christine talks with financial planning expert Jeff Levine about the importance of tax planning in retirement. Why Tax Planning is Key When Withdrawing from Your Retirement Portfolio Will Your Taxes Decrease in Retirement? Key Tax Strategies for Retirees Before They Have to Take RMDs Do Rules of Thumb for Retirement Spending Make Sense? How to Lower Your RMD Tax Bills How Qualified Charitable Distributions Can Help Lower Your Tax Bill Key Takeaways Hi, I'm Christine Benz from Morningstar and welcome to the How to Retire podcast. It's a companion to my book, which is also called How to Retire. Each episode will provide a bite-sized lesson about how to do some aspect of your retirement well. Today's episode will focus on the tricky topic of tax planning during retirement. To tackle this topic, I reached out to Jeff Levine, who is Lead Financial Planning Nerd at Kitces.com, and also serves as Chief Planning Officer at Buckingham Wealth Partners. Jeff is exceptionally good at explaining complex tax matters, so I knew that he would do a great job of delving into this topic. What are the secrets to a healthy, happy, and wealthy retirement? Find out with Christine Benz’s new book, “How to Retire.” https://linktr.ee/christine_benz More from Jeff Levine Bio https://www.linkedin.com/in/jeff-levine Kitces.com https://www.kitces.com/we-are-a-team-of-nerds/ Buckingham Wealth Partners https://www.buckinghamstrategicwealth.com/people/jeffrey-levine-cpa-pfs-cfp-aif-cws Jeff Levine on The Long View: Smart Tax Moves for 2023 and Beyond https://www.morningstar.com/podcasts/the-long-view/2f2b4c7f-ab8b-47cb-87b5-db85bbb56e2d Read more from Christine Benz. How to Retire: Tips for Entering Retirement https://www.morningstar.com/retirement/how-retire-tips-entering-retirement The Big Retirement Myth https://www.morningstar.com/retirement/big-retirement-myth Can You Control Required Minimum Distributions? https://www.morningstar.com/retirement/can-you-control-required-minimum-distributions 8 Little-Known Facts About RMDs https://www.morningstar.com/retirement/8-little-known-facts-about-required-minimum-distributions An Investing Road Map for Retirees https://www.morningstar.com/retirement/an-investing-road-map-retirees Read about topics from this episode. 4 RMD Mistakes to Avoid https://www.morningstar.com/retirement/4-rmd-mistakes-avoid How Retirees Can Avoid the ‘Tax Torpedo’ https://www.morningstar.com/personal-finance/how-retirees-can-avoid-tax-torpedo Watch more from How to Retire. How to Retire: Transition from Saving to Spending https://youtu.be/LFKYCcWKQy0?si=KrYQYSZYbxb7lLvN How to Retire: Consider a Retirement Bucket Portfolio Strategy https://youtu.be/qBcLCZ634U4?si=YcWDVAYW-jQp9AoY How to Retire: Know What ‘Enough’ Means in Retirement https://youtu.be/VmJbOjJkVSE?si=JO0Z0ooaYKo0ghte How to Retire: Understand the Role of Working Longer https://youtu.be/VFi00yWDM2E?si=w0ZcSNDTFVf-xcaa How to Retire: Stay Flexible with Your Retirement Spending https://youtu.be/LmpwwKZb1Q4?si=iF1dv_73NCrIaKeD Read what our team is writing: Christine Benz https://www.morningstar.com/people/christine-benz Follow Christine Benz on social media. X: https://x.com/christine_benz LinkedIn: https://www.linkedin.com/in/christine-benz-b83b523