Скачать или смотреть 💸 IRMAA mistake: $12K+/year. Tax diversification = avoid surcharges

This mistake can cost retirees over $12,000 a year…💸
Many retirees underestimate the cost of Medicare in retirement and end up frustrated by IRMAA—which stands for Income Related Monthly Adjusted Amount.
This surcharge is based on your taxable income from two years ago. In 2025, IRMAA starts to kick in if your income exceeds $106,000 (single) or $212,000 (married), and max out at $500,000 (single) or $750,000 (married).
Planning for tax diversification today is the best way to manage your Medicare premiums in the future, because it lets you choose your tax bracket and avoid charges like IRMAA.
It's also the best way to plan for Required Minimum Distributions (RMDs). This is when the government starts requiring you to take out a percentage of your pre-tax retirement accounts every year once you are in your 70's. These withdrawals are required whether you need them or not, and will increase your taxable income every year.
Meaning RMDs that you don't need could be responsible for thousands of dollars in increased Medicare premiums. But retirement money in Roth accounts aren't subject to these since you already paid taxes on it.
Learn more about tax diversification from a financial planner by hitting follow.
#medicare #irmaa #taxplanning #retirement

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

References to tax strategies should not be confused with tax advice. Skinner Wealth Strategies and LPL Financial does not provide tax advice.