I received a number of questions on my video How to Retire on $139,600…or Less! https://youtu.be/IUsuXt58F_4
The questions/comments were primarily on taxes. “You didn’t address taxes…” Well, I kind of did. But obviously not nearly enough for it to sink in, and that’s okay… Thats my fault.
In this video I address the exact issue of taxation for Joe and Jane.
Remember, they have $36k in Social Security and, in this video, I have them taking $14k a year in IRA distributions.
Watch why I show you how they have NO TAX! None.
Now, be advised if they have $14k in Social Security and $36k in IRA distributions the situations change dramatically.
You have GOT to plan using Social Security to your maximum. More Social Security = less tax!