In this episode Mark shares his personal approach to fourth quarter income and tax planning. He explains the benefit of using a one-page financial plan and discusses strategies for Roth IRA conversions, tax planning, handling required minimum distributions (RMDs), and navigating the Affordable Care Act's (ACA) advanced premium tax credits.
Mark provides detailed insights into social security benefits for survivors, including his own experience claiming benefits at age 60. He also touches on maintaining liquidity, setting up automatic monthly 'paychecks' from investment accounts, and the implications of income on Medicare insurance premiums.
This comprehensive episode is a great listen for anyone looking to optimize their financial situation as we head toward year’s end.
Episode Links:
Mark’s Money Mind YouTube Channel
Timestamps:
In this engaging episode recorded live from CampFI Rocky Mountain Week 1, Mark alongside Doug Cunnington and Carl Jensen from the Mile High FI...
In this episode Mark discusses the pros and cons of paying off a low-interest mortgage with Doug Cunnington from the Mile High FI podcast....
In this episode, recorded in front of a live audience at CampFI Mid-Atlantic in Virginia, Mark is joined by co-host Megan Combs of the...