MDRN Wealth

How To Actually Pay $0 in Taxes in Retirement

If you’re working toward retirement—or maybe you’re already there—you might be wondering: how do people not only get into the lowest tax bracket in retirement but actually pay $0 in taxes? The good news is, you don’t need some elaborate tax strategy, exotic investments, or anything overly complicated to make it happen. I’ve worked with thousands of retirees, and I’m going to show you how this might be more achievable than you think. Plus, I’ll walk you through a case study at the end to break it all down. Trust me, you don’t want to miss it! Key Topics: * How Do People Pay $0 in Taxes in Retirement (00:00) * How Social Security is Taxed (01:43) * How to Determine How Much Provisional Income You Have (02:35) * Increased Standard Deduction Once You Turn 65 (05:17) * Taking Advantage of 0% Longterm Capital Gains (05:59) * Case Study (07:03) * Wrap Up: Chasing a Low Tax Situation Now vs Making the Longterm Sacrifice (13:58) This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mdrnwealth.com/blog/] If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠ [https://www.mdrnwealth.com]

First Year of EARLY Retirement: A Case Study on Taxes, Health Insurance, and Cash Flow

The first year of retirement can feel a bit clunky. You’re likely not entirely in a low-income bracket yet, as you may still have some income coming in this year—possibly including a PTO payout. On top of that, you’ll need to figure out health insurance, determine how to pay for it, and, of course, tax plan around these issues.In this episode, we break down a real-life example of how this type of planning plays out. Key Topics: A Case Study on Early Retirement (00:00) How Do Homer and Marge Sample Live off Their Portfolio and What Does Tax Planning Look Like? (03:29) The Rule of 55: Taking Money out of 401k with No Penalty (05:58) Using an Affordable Care Act (ACA) Policy and Tax Savings (06:45) Strategically Incurring Capital Gains (Buy, Borrow, Die) (10:00) Wrap Up: Utilizing Different Buckets to Fund Your Retirement and Keep Taxable Income Low (14:18) This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mdrnwealth.com/blog/] If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠ [https://www.mdrnwealth.com]

3 Health Insurance Options for EARLY Retirement (Pre-65)

Besides the question, “Do I have enough to retire?” do you know what the most common concern is for someone retiring before 65? If you’re watching today’s video, you’ve probably already guessed it: health insurance! Paying for health insurance is one of the biggest reasons people delay retirement until 65. However, the reality is that most people don’t fully understand their health insurance options if they decide to retire before 65. Today we’re breaking down your three main options for health insurance before turning 65. Trust me—you don’t want to miss this! Key Topics: * Your 3 Main Health Insurance Options for Early Retirement (00:00) * Option #1: COBRA and utilizing an HSA with COBRRA (01:34) * Option #2: Private Health Insurance Plan (03:46) * Option #3: Affordable Care Act (AKA Obama Care) (04:52) * An Example of ACA and Portfolio and Tax Strategy (06:55) * Wrap-Up and Recap (08:53) This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mdrnwealth.com/blog/] If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠ [https://www.mdrnwealth.com]

2025 IRS 401(k) + Roth Guidelines Reveled

What's up, guys? In this episode, we're breaking down brand-new IRS guidance for 2025 that's a total game changer for 401(k)s and Roth accounts. If you're looking to maximize your tax savings or supercharge your Roth with nearly $90,000 in contributions, this episode is for you. We'll explain how these new limits work and show you exactly how to take advantage of them. Trust me, you won't want to miss this! Key Topics: * Supercharge Your 401(k) Savings and Put Up to Almost 90K into a Roth (00:00) * Comparison Chart: Under Age 50 (01:58) * Comparison Chart: Under Age 50-59 (05:35) * Comparison Chart: Under Age 60-63 (Super Catch Up!) (06:38) * Comparison Chart: Under Age 64+ (08:12) * Sample: Joe (40 y.o.) has a $250k Salary, His ER Matches 3% (08:48) * Wrap-Up: Just Because You Can, Should You Funnel Away 90K? (09:40) Resources: * Article on Backdoor Roth [https://mdrnwealth.com/how-to-do-a-backdoor-roth-ira-conversion-the-right-way/] * Article on Mega Backdoor Roth [https://mdrnwealth.com/mega-backdoor-roth-your-66k-roth-tax-loophole/] This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mdrnwealth.com/blog/] If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠ [https://www.mdrnwealth.com]

5 Habits of 401(k) Millionaires – STUDY REVEALED

In this episode, we’re diving into a Fidelity study that uncovers the common traits of 401(k) millionaires. What habits, strategies, and decisions helped them reach that milestone? We’re breaking it all down, sharing actionable insights, and giving you tips to boost your own retirement savings. Key Topics: * Study Overview and Context (00:00) * Five Habits Found in the Fidelity Study (03:38) * Key Takeaways from the Study (06:13) * Wrap-up: Importance of Diversification (07:35) Resources: Fidelity.com Study: Five Habits of 401(k) Millionaires [https://www.fidelity.com/viewpoints/tcm%3A526-124671-9451.comp?source=content_type%3Areact%7Cfirst_level_url%3Aarticle%7Csection%3Amain_content%7Cbutton%3Abody_link&utm_source=chatgpt.com] This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mdrnwealth.com/blog/] If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠ [https://www.mdrnwealth.com]