Retirement Risk
Your IRA & 401K Could Be Your Largest Tax Liability
You’ve paid taxes all your life, so why worry about them now? Your IRA tax burden could be your largest debt in retirement and without a plan, Uncle Sam could get more than his fair share. Our IRA Tax Plan seeks to ensure that the taxes you pay are minimized so your hard earned IRA dollars stay where they belong — with you and your family.
Here's the Danger
Whether you hoped to leave a financial cushion for your children or ensure your spouse can live comfortably when you’re gone, taxes will play a big role in determining whether you achieve that goal.
Like many retirees, you may not realize that hiding in your IRA is a bigger than expected tax burden waiting to be collected. And when you pass, Uncle Sam will come calling, thanks to these little-known tax dangers:
The Widow's Penalty
After the death of a spouse, widows must begin paying taxes on IRA dollars at a higher individual tax rate (it could double) in the tax year following their spouse’s death.
The Kiddo's Penalty
After the death of the surviving spouse, your children begin paying taxes on mom and dad's IRA dollars at their usually higher working tax rates (it could double again) in the tax year following the surviving spouse's death.
Learn More About the Tax Penalties
How the Roadmap Helps Solve This Risk
An IRA Tax Plan Can Keep More of Your Money with Your Family
Without planning, your IRA could become a tax time bomb. Our complimentary Roadmap for Retirement includes a personalized IRA Tax Plan that helps minimize taxes over time so more of your hard-earned savings go to your spouse and kids — not Uncle Sam.
Here's what a $1,000,000 IRA looks like without tax planning.
Examples and risk reduced numbers are for illustrative purposes only.
Actual taxes owed and savings will vary based on your financial situation and tax liability.
Download Our
IRA Tax Planning Guide
Learn how to avoid the two massive retirement tax traps
Tax Planning Resources
How Much of Your IRA Belongs to Uncle Sam and What to Do About It
When you open your IRA statement, it’s hard not to feel excited when you see the number with all those zeroes behind it. But you know who else is excited? Uncle Sam. That’s because within all those zeroes is a debt he can’t wait to collect.
Get Ahead of the Widow’s and Kiddo’s Penalties
These two often overlooked taxes hit you when you least expect it, and unfortunately, at a time when you and your family are likely most vulnerable. Let’s break down what you need to know and how to prepare.
How to Get an IRA Tax Plan
The IRA Tax Plan is part of the Roadmap for Retirement, a comprehensive plan for protecting your retirement.
Your personalized Roadmap for RetirementSM contains all the tools you need to minimize what could be your greatest risks in retirement, including the Tax Plan, a Long-Term Care Plan to protect against long-term care costs, a Market Risk Report to identify your market risk, and a Fee Analysis to identify how much you’re paying in investment and advisor fees.