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How do I reduce my taxes when I take money from my 401K or other retirement account?
Season 6 Episode 207
Feeling stressed about the taxes on your 401K withdrawals and their effect on your retirement? Listen to this episode of the Ask Ralph Podcast with Ralph Estep Jr. as he shares tips to lower taxes on your retirement withdrawals. How do I reduce my taxes when I take money from my 401K or other retirement account? with Ralph Estep Jr.
How Can I Lower My Taxes When Withdrawing from My 401K? with Ralph Estep Jr.
In this episode of the Ask Ralph Podcast, host Ralph Estep Jr. answers a listener's question about minimizing taxes on 401K withdrawals. Ralph explores various strategies to keep more of your hard-earned money, such as understanding your tax bracket, considering Roth conversions, and exploring tax-advantaged withdrawal options. He also emphasizes the importance of consulting with a qualified financial advisor to develop a personalized plan. Tune in to gain practical financial advice and biblical wisdom for better managing your retirement savings.
00:00 Episode Overview
01:25 Listener Question
02:12 Understanding Your Tax Bracket
04:27 Roth Conversions
05:44 Tax-Advantaged Withdrawal Options
08:13 State Taxes Considerations
08:33 Final Thoughts
09:33 Outro
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Published on 1 year, 4 months ago