What if you paid all your taxes - and still got hit with a penalty from the IRS?

Our retirement headline this week comes from Laura Saunders in the Wall Street Journal. Estimated tax penalties are skyrocketing, and retirees and investors are some of the most likely to get caught in the trap.

We will cover that, then hop into our Listen Question: "What happens when you lose faith in fixed income as the foundation for your retirement plan?"

Then stick around to hear what our happiest retired listeners are up to in our newest listener-sourced segment "Retire to Something"

Resource:
Article by Laura Saunders in the Wall Street Journal: Estimated Taxes Are a Pain. Here's How to Avoid Costly Penalties.

Connect with Benjamin Brandt:

• Subscribe to the This Week in Retirement: http://thisweekinretirement.com
• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
• Work with Benjamin: https://retirementstartstoday.com/start

Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart

Some desirable investment income - like interest and dividends - might actually hurt high-net-worth investors' bottom line. This comes from an article by Larry Swedroe in Financial Advisor Magazine.

He outlines four hidden costs that can quietly erode over 1% of after-tax returns each year:

• Cash Drag
• Tax Deferral
• Step-up and Charitable Giving Advantage
• Financial Planning Flexibility

For our Listener Question: "Are brokerage account gains taxed before the money is withdrawn?" If you've ever wondered how your taxable investment account stacks up next to your IRA or Roth, this one's for you. We dig into the 'magic middle' of retirement savings and clear up how and when Uncle Sam wants his share.

And to wrap up the show, Dave in New York shares his work of raising dogs to help the blind. 🦮

Resource:
Article by Larry Sweroe in Financial Advisor Magazine: The Hidden Cost Of Investment Income

Connect with Benjamin Brandt:

• Subscribe to the This Week in Retirement: http://thisweekinretirement.com
• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
• Work with Benjamin: https://retirementstartstoday.com/start

Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart

You might have received a Social Security cost-of-living increase this year — but did your net check actually go up?

A recent Wall Street Journal article highlights how rising Medicare premiums and IRMAA surcharges are offsetting those increases for millions of retirees - and "takes a bigger bite out of Social Security checks".

Then, a listener writes in "How to convince my husband's parents to spend their money. We don't need it." Tune in to hear that one!

And we wrap it up with our "Retire to Something" segment from Dave in Massachusetts.

Resource:

Wall Street Journal article by Laura Sanders: The Medicare Charge That's Taking a Bigger Bite Out of Social Security Checks

Connect with Benjamin Brandt:

• Subscribe to the This Week in Retirement: http://thisweekinretirement.com
• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
• Work with Benjamin: https://retirementstartstoday.com/start

Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart