Common Sense Financial Podcast: Mindset & Growth

In this milestone 100th episode of the Common Sense Financial Podcast, host Brian Skrobonja delves into the critical topic of managing taxes in retirement. The episode focuses on strategies for minimizing tax liabilities, especially for retirees with tax-deferred accounts facing potential hefty tax bills. Brian emphasizes the importance of sustainable income creation during retirement and the role of tax optimization in this process. Most people envision their retirement to be built from predominantly tax-free income, but after many years of deferring taxes, retirees are facing a sizable tax bill on distributions taken from their retirement accounts that could be a third or more of what has been accumulated. When you’re saving for retirement, growth of your assets is the priority. But many people don’t realize that once they retire that’s no longer true. The priority is actually creating sustainable income to support you through retirement while minimizing taxes. A common issue I’ve seen is future retirees k