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Step-by-Step Guide to Tax-Efficient Retirement Withdrawals: Social Security, Roth IRAs u0026 401(k)s

Erin Talks Money 146 views

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Who uses the 4 rule and withdrawals the annual allotment all once?
Comment from : @sunshinecycling

I am disappointed that this channel does not offer the option to say, no longer show me this channel I have liked some of these videos, but anyone both-sides /normalizes what this unelected billionaire is doing to our democracy is part of the problem
Comment from : @barbaraschultz8134

You had me at "Step-by-Step" :) brbrExcellent video New subscriber! Thank you
Comment from : @orbis29

How can you withdraw limiting tax obligation if you have pensions and also want to withdrawal some from investments No SS Yet
Comment from : @richm4769

Now do a video please for retirees with large federal pension income, that will be taxed first
Comment from : @dunesmom7990

Thank-youbrYour video was easy to listen to and follow - plain English and not too complicated
Comment from : @NickBayus-ir3hq

How does these different strategies affect the couples ACA premiums also
Comment from : @doug2202

This is the best, most clearly communicated, easy to understand video I’ve watched on this Phenomenal job, and a HUGE thank you!
Comment from : @TheJoeRosenShow

I wish you could speak slower…
Comment from : @AkikoInagaki-hu8gs

Great timing! Finally, an article about this Perfect timing for me, as well
Comment from : @lesterbeals1443

How many retirees have a Roth? It wasn’t created until I had worked 18 years later and it had income limits disqualifying its availability by almost 20 years into my career, when my wife and I scraped by to save early for retirement
Comment from : @arnoldjohnson3317

Single people get so screwed with taxes
Comment from : @SicilyJo

Really nice guide, but I was left a little confused about the calculation for social security and provisional income That would be a great subject for an ib depth explanation of the subject
Comment from : @lawrencebruce4514

My thoughts are I need to watch this video a few more times Nice job alerting people to these issues
Comment from : @francisdrelling4060

Haven't seen all your videos But, recommend a segment on doing IRA/401K conversions to ROTH IRA account There are many pitfalls and benefits to doing this depending on ones situation
Comment from : @wababread2696

Solid advice I am retired and use the bucket strategy all the time All of your points are valid; however, your examples were a bit unrealistic Being able to do those exact numbers from the accounts would be too complex for most folks
Comment from : @wababread2696

Can Boldin software handle all or most of the approaches you recommended here?
Comment from : @craigtanner5499

Taxable social security is dependent upon the combined income, in your case, it won’t be 50,
Comment from : @hhwmwa

Exodus 20: 7 “You shall not take the name of the Lord your God in vain, for the Lord will not hold him guiltless who takes his name in vain
Comment from : @needhelp9699

Planning for retirement might seem far off, especially if you're young or focused on immediate financial goals However, starting your retirement investing as early as possible is one of the smartest financial decisions you can make
Comment from : @RichardOliver-r7x

That noise is a good thing Most of us can tolerate it because we can no longer hear it The fact that you still can’t gives lie to your obviously false claim of having reached 40…30, maybe…though it is still a stretch
Comment from : @LoriThantos

❤❤❤❤🖒🌷📞
Comment from : @HasanRifino

How to withdraw if you have: Pension, 401K, long term investment, social security?
Comment from : @thomaspham1506

I stumbled across your channel today and love this video A lot of good info I’m 55 and want to retire at 67, I got started a little late, still building my portfolio and I think I’m not doing the most tax efficient things now Do you have any advice for me or tools I can use to build my accounts with less of a tax bill at the end of the year Thanks!!
Comment from : @dougclay7555

What if you have a sizable pension in addition to the others? Good tax issue to have, but still an issue
Comment from : @jamesm6262

Enjoy your Visio How to get your suggestions on handling a larger IRA accounts? Thanks
Comment from : @miligu2580

Thank you Erin, your videos have helped me in my plans more than any others Very organized and well presented Keep it up Excellent information!
Comment from : @mikebemis9584

You are the first financial advisor to give me any new information Thank you
Comment from : @boriskustin203

This is a very powerful video Great straight-forward information My wife and I just discovered Erin's channel, and our only wish we knew about here before we retired Now we are retired and doing fine, but the information provided is very good Now subscribed!
Comment from : @kaizenretirement

too many ads, can't follow this with so many interruptions
Comment from : @johbbro7931

In the example at 6:08, wouldn't the GAINS on the brokerage withdrawal be subject to capital gains tax and not the entire $7700 withdrawal? Same with the $16K brokerage withdrawal at 9:19?? Either way, they are well within the 0 bracket - but this distinction may make a difference for other examples
Comment from : @pflo1822

good stuff thank you
Comment from : @mickster1780

Excellent info and explain clearly about the withdrawal strategies Glad to cross your channel ❤
Comment from : @tthudinh4010

Thank you very much This was very helpful!!
Comment from : @SavedByGraceThruFaith77

Wonderful! Thank you so much, Erin!
Comment from : @heidikamrath1951

Erin! You’re Good! Was Blown away! New Subscriber here!
Comment from : @andrewsoriano165

Retired almost 6 years, only wished I followed your channel earlier Better late than never! Thanks Erin
Comment from : @edchang9521

Best video I've seen on this topic Answered some remaining questions I've had as I near retirement Thanks!!
Comment from : @sailingslapshot

I am 79 yo I live on SS and RMD from my investments The principle stays in and continues working
Comment from : @raynutz1

Why spend ANY of the brokerage account funds now if you’re still sitting on up to 7 years of tax deferred (future) growth in the 401K (age 67 now, RMD begins at 73)? I say leave the 401K alone (until brokerage funds exhausted) Let the 401K grow and pay the taxes when due Remember, tax deferral is one of the special sauces in generating future wealth
Comment from : @bysykler4959

The 4 “rule” assures that your assets never decrease, which is to your detriment and your financial advisor’s benefit
Comment from : @richardlang63

Erin, you do a great job explaining thisbrbrOf course, these scenarios did not take into consideration the brokerage account earning interest, dividends and/or realized gains These items are taxable regardless of whether anything is taken out of the brokerage account taxability of which is not at all determined based upon what you are pulling from that account So, just keep in mind that you have to consider these income sources (and any others) when determining how much cashflow to pull from retirement accounts and from which
Comment from : @markdamico2070

Thank you for this great video! It is much easier to understand than the other YouTube videos on tax strategies
Comment from : @richshaffer985

FINALLY! You're one of the few U tubers that consider taxes properly in investment videosbrOnce a person understands what you just said, it should change they type of accounts they invest inbrbr1st, invest in your 401k up to the company match Not a penny morebr2nd MAX out your ROTH IRA and ROTH 401k if availablebr3rd max out your HSA if availablebr4th all other money goes into a standard brokerage accountbrbrThis plan, if you're married and your investments did well, will allow you to pull out over 100k per year plus all your medical expenses, without paying taxesbrbrI am not a tax professional or financial adviser
Comment from : @mnotlyon

Great information Thanks for sharing On a side note- get that fiddle fig by a window, it needs lots of sunshine!
Comment from : @HealthyKeto20

I have watched a couple of your videos they are GREAT, informative and easy to understand Thanks
Comment from : @andrewlacousre

Great info, THANKS! Retiring at the end of the year and this is exactly the kind of info I'm looking for
Comment from : @fast22fast

Gf is sharp as a tack and does not skip arm day! Great videos, some of the best financial advice on the platform
Comment from : @CC-gu3ze

The examples here are showing us why withdrawing from 401K at 67 is too late
Comment from : @yifanwang

Fantastic video I love real life examples and optimization strategies Thank you!
Comment from : @ImaAHol

Hey Erin, thanks for putting together such helpful videos! Are you aware of any spreadsheets that would help execute/model your withdrawal strategies?
Comment from : @TracerXXX

Great strategies - I appreciate greatly your logical reasoning abilities! For a couple of age 79 & 80, with a 2-million portfolio, do you suggest to withdraw the most within the lower tax bracket and re-invest the surplus into a brokerage account or investment in real estate so that a higher tax bracket (the age factor in RMD) down the road can be avoided? Thank you for your advice
Comment from : @user-px5ru8ft7k

Great video thank you!
Comment from : @pattyk8594

I would love to see you tackle this with someone with a pension I’m retired military with a pension and I feel like I’m going to get screwed in taxes if I make it to RMD age!
Comment from : @rangelet

I retired at full retirement age 2 months ago and started drawing SS I picked up a part time job as a consultant flexible 12 hours a week Household income is comfortable without touching investment accounts No debt and living pretty good right now
Comment from : @contemporaryprimitiveman3469

All the numbers make my head spin!
Comment from : @jasonhoff6407

Great video, actual information that's usable
Comment from : @jfesl

what about the 5-year rule for Roth IRAs?
Comment from : @LCretiree

Wait, could someone explain the long term capital gains rates to me? So if I am single and I make 50,000 a year, any long term gains are taxed at 15? But if I made $45,000 a year at a job, I can pay no taxes on long term capital gains up until the $2000 capital gains Once my combined salary and long term capital gains are over $47,000, I have to pay 15 on any long term capital gains over that combined income mark? Is that how it works?
Comment from : @raymondkent5762

Genius! Exactly the info I was looking for
Comment from : @GordonSux

Perfect, thanks
Comment from : @Unicorn-Black

Hi Great video I really appreciate your knowledge Do you provide paid advisory services? I really need some help as I'm newly retired Thanks
Comment from : @rfranice

I am trying to figure WHEN do I pay tax on my 401 withdrawal without paying penalty I am 65 years old and don't want to pay tax on my December withdrawal before April 2025brPeople talk about everything except that
Comment from : @katereznikov8792

Okay I thought I knew everything about retirement and how to withdraw funds but I am humble enough to realize you are true expert I would very much like to hire you and have you as a consultant on my portfolio
Comment from : @hs9917

This is fine if you are only going to live for a yearbrWhat's missing is a 20 to 30 years planbrFor example, at 73, this couple as you noted will have an RMD time bombbrI would recommend they do Roth conversion every up to the tax bracket they are comfortable with, 15,22 etc to minimize future RMDsbrKeep in mind that by 73, the 400k and will be 600k and that will be around 25 in RMD That will make 85 of their Social security taxable alsobrBottom line, you need a plan for longevity, not year by year
Comment from : @free2be

The downside of withdrawing monthly from tax-deferred accounts is that the portfolio value may go down between monthly withdrawals, subjecting the retiree to a sequence of return risks One can take an annual withdrawal and place the proceeds into a low-risk investment such as a high-yield savings account or money market account and withdraw monthly from these accounts, which will accrue some interest during the yearbrbrBucket strategy is just a form of mental math To perform the same tasks, one can use asset allocation with cash, bonds, and equities combined with rebalancing to the desired asset allocation In addition, rebalancing is more tax-efficient in a tax-deferred account brbrTaxable accounts typically should include large index funds which are more tax-efficient than fixed income investments Roth accounts should also include equities with a higher expected return than fixed income Having fixed income in the tax-deferred account helps to minimize the increase in RMDs, which are forced taxable events This tax-efficient strategy is referred to as asset locationbrbrIf one has space in lower tax brackets (eg, 12 tax bracket), one should take additional income from the tax-deferred account, further reducing the increase in RMDs This would help to lower taxes in the future and for married couples when person one becomes single and moves into a higher tax bracket
Comment from : @williamrogers1219

We have approximately $30K in a stock that began years ago with annual gifts from one of our parents Is this considered a “brokerage acct?”
Comment from : @josephgraham7679

Can I retired at 60 years old from 401k?
Comment from : @johngalutira6851

Great video as always Erin As I have told you in the past, I retired in Oct 2024 and just now starting my withdrawal strategy now that we are in 2025 We are trying to stay within the 12 Fed tax bracket with my wife taking SS and the rest coming from IRAs or our brokerage account Have you thought of doing an example of staying within the 10 and or the 12 brackets? And have you considered helping individuals with their specific scenarios, for a small fee I will be happy to be your guinea pig, if you like to give it a shot
Comment from : @pepster60

You made this topic so clear Thank you
Comment from : @yzsutty

I can save $250,000 on my Ira if I just get an address in Nevada or New Hampshire
Comment from : @colleenconger5265

Each one should also add $8000 per year to the Roth IRA from the brokerage account They are well under the income limit of or $230,000
Comment from : @kirkNJ

Very well said, excellent information, and very educational Of course, smart, beautiful, and gorgeous 😊
Comment from : @anthonyperrone8083

Good report with some reservations They all say buy low, sell heigh That means I prefer not mostly withdraw but I do depends of the market conditions
Comment from : @raylotfi1318

I love this video, thank you Erin! I've been working on this myself the past couple years trying to set up for tax efficiency now while I'm relatively younger and my mind is still relatively sharp lol 20 years away from retirement roughly but trying to plan well ahead Keep up the great work, I love this type of content!
Comment from : @TimRevels

This content can be found in a lot of places But the presentation is WAAAAY better!! Goes a long way to understanding And the bloopers? They keep me coming back Thks
Comment from : @x2bate

I have a friend who took withdrawals on his Roth at age 63 to keep his taxable income at poverty level getting a $1k/month subsidy from the federal government for obamacare Pretty sure the subsidies weren't meant for millionaires, but that who is taking advantage of them
Comment from : @BlackMan614

Officially retiring next month Feb 2025 Terrified of the lack of a paycheck and feeling overwhelmed brbrI do have a retirement advisor, but we moved a chunk of my 401K into an annuity which I was told would protect me from market volatility only to discover I cannot touch that money for 10 years brbrI’m lost on how to proceed without an income stream and social security doesn’t look substantial enough to support the retirement lifestyle I had envisioned brbrWalking into retirement feeling defeated and overwhelmed with financial concerns
Comment from : @debbiekelly3765

Good work and examples for a couple with $1 million Their taxable brokerage account may produce taxable interest or non qualified dividends, so it's not as easy as the example shows Also, once you have more than a million, it can get more tricky Keeping your taxable brokerage account in investments paying qualified dividends and producing capital gains and having your 401{k) hold the investments producing ordinary income is prudent brbrThe above was for other readers I find your videos very helpful Thank you, Erin, and best wishes
Comment from : @robwiles57

I had problem comprehending trading in general I tried watching other YouTube trading channels, but they made the concepts more complicated I was almost giving up until when i discovered content and explain everything in detail The videos are easy to Follow br
Comment from : @jerrypollo65

Your financial wizardry continues to educate me, Erin; however, I find such pleasure in your ability to entertain us with your bloopers, which to be honest, we each could film about on own daily travails You are such a delightful and informative voice for many in your community
Comment from : @kwilliams1958

Yes, need to consider income tax brackets, long term capgains brackets , social security taxable thresholds, filing status, but also don't forget medicare IRMAA (income related monthly adj amt) brackets which may increase yr monthly medicare premiums (based on adj gross income of 2 yrs prior tax return)
Comment from : @aj5434

Erin, great topic today! We didn't do enough with Roth while on my first career (and wasn't available on my 2nd, which I just retired from), so we've got quite a tax exposure problem that we're trying to tackle Our current strategy is to max out the 24 tax bracket, and with Trump's presidential win hopefully the current tax brackets will be made permanent
Comment from : @mikebridges20

Good analysis I wonder if you could cover dealing with multiple source of income that will operating into retirement, and what is a tax efficient way to draw from those in addition to things like brokerage, savings, and SS accounts For example a YouTuber that will continue to get income from their channels in retirement or a business owner that will continue to earn via rolalties or other agreements, even thought they are not actively running the business any longer
Comment from : @JBoy340a

Long term capital gains rate table for 20 needs to be corrected for 3 groups 4 minute 54 second mark of video 😮 😊
Comment from : @PorscheSpeedster-kz6nc

In both your scenarios, the couple remains well below the $94,050 long term 0 cap gains threshold Why not take out more for tax gain harvesting? Take out money from brokerage account up to the top of the bracket, immediately buy similar funds (or wait the month to rebuy the exact same investments), and reset your cost basis Silly to not do this, even if you only need $40k to live on
Comment from : @revereirschedule8966