Retirement Income Planning- Taxation and Potential Risks to Your Money
Secure your financial future with strategic tax planning for retirement. At OSTB Wealth Solutions LLC, we help you minimize taxes and maximize your retirement income. Let us guide you towards a worry-free retirement.
Our tax-efficient retirement planning services
We offer specialized services to address the tax challenges of retirement planning, ensuring you keep more of your hard-earned money. You invest for your retirement. Let us show you how to make those plans tax efficient without giving up anything in your gains.
Tax-free retirement income
We design plans to bridge the gap between Social Security, qualified retirement plans, and your desired retirement income, utilizing tax-free strategies.
Roth IRA rollovers
First, why roll over the IRA or 401k or 403b plan, Money left in tax deferred accounts will require taxes to be paid in retirement. RMD (Required Minimum Distribution) is the IRS way of making sure the money is taxed. You might be taking money from an account and now, at age 73 you will add to that income money from the retirement account. Taxes are paid on the total. This has the potential of moving up a tax bracket and will set of IRMAA , a surcharge on your Medicare part B and D payments. This can go as high as $750 per month. Not only are your taxes increasing, if any money is left in the account and goes to your heirs, they will be paying the taxes. Rollovers aren't just for tax free income since that sounds good, It effects your taxes and your healthcare costs and your children's taxes.
We help clients prudently roll money from qualified plans into Roth IRA accounts, minimizing tax impact during the rollover process. This way, all the problems with taxable accounts are avoided
Estate tax planning
Ensure your heirs inherit your wealth tax-free, avoiding unnecessary tax burdens and distribution restrictions. Let us show you how you can significantly increase what your heirs receive without changing what you are giving.
Estate planning can get very complicated. That is why we work with estate attorneys to help craft plans to minimize taxes to you and your heirs. Good planning makes sure your desires are carried out and as much flexibility is provided for changes in circumstances
Why tax-efficient retirement planning matters
Avoid RMDs, IRMAA, and ensure your heirs receive their inheritance tax-free. Invest in tax-free income and strategically roll taxable accounts into tax-free accounts with OSTB Wealth Solutions LLC.
The OSTB Wealth Solutions LLC difference
Unlike advisors focused solely on accumulation, we address future tax implications. Our fiduciary approach ensures we invest your money as we do our own, striving to minimize your tax burden. Contact us at [[phonenumber]] or [[email]].
Expected results
We can't promise a rate of return. We do promise that we will get your taxes as low as possible now and you will have as much tax free income in retirement as possible. Our plans for tax free retirement money have excellent returns historically with an internal rate of return that surpasses taxable investments of the same amount.
