Retirement’s Biggest Tax Trap and How to Avoid it? - Paul Morrison and Mark Annese

Brad Pistole, alongside guests Paul Morrison and Mark Annese, delivers a crucial discussion on the impact of Income-Related Monthly Adjustment Amounts (IRMAA) on retirement income. They stress the importance of understanding how IRMAA can increase Medicare premiums and reduce Social Security benefits, particularly for those with significant assets or major financial transactions. The conversation highlights age 63 as a pivotal time for tax planning, exploring strategies like Roth conversions and tax-free investment vehicles to minimize future tax burdens. Through real-life examples and expert insights, the video underscores the necessity of proactive retirement income planning to ensure long-term financial security.