I keep all my income producing assets, like short term bond ETF’s or money markets, in my IRA. All my equities are in my joint brokerage at VG. We will not sell any equities because the gains are too high. I give part of my IRA withdrawal as QCD’s to my college. That keeps taxes down
Using AOTC for college age children to save $10,000 in taxes over the 4 years from college expenses each of them . Not big dollars, but useful for family vacations over those years, etc.
QCD’s. Our plan is to live very frugally, fund special expenses (trips, car, etc.) from our Roth’s, augment SocSec a bit from pre-tax IRA’s and give the rest away either in the form of QCD’s or inheritance. A good possibility that we won’t owe a dime of income tax in retirement (given no changes in the tax code, anyway).
I’m retired do not have a pension and have roughly half of financial assets in post-tax and half in pre-tax accounts. My basic strategy is to subtract a large sum from the total available, for potential end of life needs, calculate an annual distribution from the remaining amount and subtract 10-20% from that amount to account for market downturns. The tax-savings strategy here, has always been not to wait to take distributions but rather to spread the distributions out over my lifetime.
Tax-loss harvesting whenever opportunity arises. Also, move investments that produce un-qualified dividends or interests from taxable accounts to tax-deferred account.
I keep all my income producing assets, like short term bond ETF’s or money markets, in my IRA. All my equities are in my joint brokerage at VG. We will not sell any equities because the gains are too high. I give part of my IRA withdrawal as QCD’s to my college. That keeps taxes down
Using AOTC for college age children to save $10,000 in taxes over the 4 years from college expenses each of them . Not big dollars, but useful for family vacations over those years, etc.
QCD’s. Our plan is to live very frugally, fund special expenses (trips, car, etc.) from our Roth’s, augment SocSec a bit from pre-tax IRA’s and give the rest away either in the form of QCD’s or inheritance. A good possibility that we won’t owe a dime of income tax in retirement (given no changes in the tax code, anyway).
I’m retired do not have a pension and have roughly half of financial assets in post-tax and half in pre-tax accounts. My basic strategy is to subtract a large sum from the total available, for potential end of life needs, calculate an annual distribution from the remaining amount and subtract 10-20% from that amount to account for market downturns. The tax-savings strategy here, has always been not to wait to take distributions but rather to spread the distributions out over my lifetime.
Tax-loss harvesting whenever opportunity arises. Also, move investments that produce un-qualified dividends or interests from taxable accounts to tax-deferred account.