Do You Want To Collect Social Security Completely Tax-free in Retirement!?

(Don’t forget to checkout the video when you’re done reading)

Do you want to collect social security completely tax-free in retirement⁉️

Well, of course you do, right⁉️ (duh)

Who wouldn’t?!

Collecting your social security check completely tax-free in retirement makes more of a difference in the sustainability of retirees retirement income than most people realize.

First, you need to make sure you maximize your social security check in retirement, then, you need to make sure you collect it tax-free.

In fact, it’s been proven that if you can collect your social security check tax-free in retirement your retirement money will mathematically last 5–7 years longer…

So of course, that alone should give you all the motivation you need to do everything in your power to collect social security tax-free (so that your money will last longer in retirement)

But how do you do it?!

Well, social security is ONLY taxed based on a little concept called “provisional income”.

Primarily, this is money coming out of taxable retirement accounts (think 401k’s, IRA’s, company pensions, PERA, etc.), but it also includes earned interest, dividends, rental income…

PLUS, even half of your social security check itself counts as provisional income (I know, I know, what a dumb rule).

So you would think that you want to completely eliminate your taxable retirement accounts, but hold on just a second….

You don’t want to completely eliminate your taxable retirement money…🫣

You can leverage your standard deduction in retirement to offset the taxes coming out of TAXABLE accounts (like I talk about in this video).

This makes them:

✅ Tax-deductible upfront (reducing your taxable income in your peak earning years)

✅ Tax-deferred while they grow

✅ AND tax-free in retirement (the best of all worlds 🌍 🌎)

But you want to be careful that you taxable retirement assets don’t exceed $350,000.

This is the sweet spot that allows you to maximize your standard deduction and collect your social security check tax-free.

If the balance of these retirement assets exceeds $350,000 (or is projected to in your later years if you’re younger) you want to exploring strategies to reduce that balance and reposition your assets into vehicles that you can pull money out of tax-free in retirement (like Roth IRA’s and very specific types of life insurance contracts) 😎

These types of retirement vehicles allow you to execute the strategy of a tax-free retirement.

In fact, they are the 2 greatest opportunities that exist in the current IRS tax code.

Money coming out of these accounts is not only tax-free, but it doesn’t count as “provisional income”….

And remember, “provisional income” is the ONLY way that social security is taxed.

So as long as your “provisional income” is low enough, your social security check will not be taxed. 🤝

AND, there is NO LIMIT to how much money you can pull out of these accounts while STILL collecting your social security check completely tax-free.

Message me for more details. 💬😎