Taxes & Retirement: What You Need to Know Before the Inauguration | Financial Armor Ep 54

In this must-hear episode of The Financial Armor Show, host Brad Cooper and co-host Tony Shore welcome special guest Becky Swansburg, CEO of Stonewood Financial and a leading expert on taxes and legislative risk in retirement. They dive into critical topics, including the potential extension of Trump-era tax cuts, the looming impact of required minimum distributions (RMDs), and why proactive tax planning is more essential than ever. Learn how legislative changes like the SECURE Act and stealth taxes like IRMAA (Medicare surcharges) could significantly affect your retirement savings—and what steps you can take now to protect your nest egg and create a tax-efficient legacy.

Timestamps:

00:01 – Introduction: Brad Cooper and Tony Shore kick off the show
02:17 – Special guest introduction: Becky Swansburg’s impressive credentials
05:11 – Trump tax cuts: Will they be extended or expire in 2025?
08:55 – Why today’s low tax rates are a limited-time opportunity for retirees
10:43 – The perfect storm: RMDs, taxes, and the $40 trillion in pre-tax accounts
14:51 – U.S. debt crisis: Why demographics drive tax increases, not just politics
16:40 – Legislative risks: How the SECURE Act affects beneficiaries and widows
20:07 – IRMAA (Medicare surcharges): A stealth tax you need to plan for
22:23 – The power of Roth conversions and why timing is critical
26:25 – Creating a tax-free legacy: Why a proactive tax strategy benefits your heirs
29:15 – Tax analysis report: How it can transform your retirement planning
30:29 – Closing wisdom: “There are two systems of taxation—one for the informed and one for the uninformed.”

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