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Our Video Library for United Pilots PRAP, RHA, PBGC, CPRP and other Plan benefits.

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Roth Conversions in Retiremement

One way to help manage your income both before and during retirement is to do Roth IRA conversions. This is a simple process that allows you to move money from tax deferred accounts like a IRA, your United Pilots PRAP to a Roth IRA. In general, the amount that you convert is added to your income for that year and will be taxed at that year’s tax rate. But then the money in Roth IRAs grows tax free and comes out tax free.

Retirement Tax Planning Income
Reducing taxes to help your portfolio last longer Thumbnail

Reducing taxes to help your portfolio last longer

When it comes to helping your investments last as long as they can in retirement you must plan how and when you will use taxable, tax-deferred, and tax-free assets to manage your income and tax brackets efficiently. You cannot be haphazard about tapping your tax deferred savings. Timing is everything - that is as it relates to the stage of retirement you are in and which accounts you pull from and in what order. If you don’t plan carefully, through all stages of retirement, you may encounter unintended tax consequences.

Retirement Tax Planning Income
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Medicare Costs and Surcharges

In this video I’m talking about Medicare costs and surcharges - how to avoid the medicare cost cliff. Unlike tax brackets where your taxes go up progressively with income. Medicare can impose a surcharge for an entire year if your income falls only $1 dollar above certain thresholds. It’s called IRMAA and you need to know what it is about.

Retirement Tax Planning Social Security
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Five Key Issues with Retirement Tax Planning

People far too often pay more taxes in retirement than they need to because of confusing rules and surprises in the tax code. This video series is going to tell you how to avoid costly mistakes and minimize tax surprises in order to withdrawal more and help your portfolio last longer. And in THIS video I will give you an overview of this video series and I will define the five keys issues around retirement tax planning.

Retirement Tax Planning
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Working while Taking Social Security

Our tax code is confusing and full of surprises. If you don’t know the rules regarding working and taking social security you might be surprised to find out your social security income can be reduced to zero - that’s right all the way to zero after you start taking it. In this video I will tell about these rules so that you can make an informed decision about whether or not you work and take social security at the same time. I’m Dan Lohmar, I’m a CFP professional with United Wealth management where we specialize in PRAP management and financial planning for United Pilots. And like many of you, My business partner, Alan Bewley, and I are both United pilots. Welcome to my video about the implications of working while taking social security. So what exactly are the rules about working and taking social security? This video will tell you all about it.

Retirement Tax Planning Social Security