The Importance of Tax Planning
The Importance of Tax Planning
October 5, 2023
October 5, 2023

There’s a reason why tax planning is a key component to the planning process at Oliver Asset Management. Too often, people focus solely on growing their portfolio another three to five percent, which is important, but it’s much more difficult to make up for a 15-20% tax hit that could have been avoided by proper planning.

Today we want to look a little closer at the tax planning process and how it differs from the tax preparation we do every year in April. Positioning yourself correctly while you’re working can possibly save you thousands of dollars in retirement.


Frank will break down the three tax buckets your money could go into and discuss some common strategies you can use based around those buckets. Plus, we will spend time on Required Minimum Distributions (RMDs) and the impact they will have on your taxes in retirement. No matter how close you are to your retirement age, we want to make sure you are taking the proper steps now to avoid that tax bomb down the road.


Here are some of the highlights from this episode:


0:00 – Intro

3:52 – Tax planning vs tax filing

5:15 – Safe to assume that taxes will be lower in retirement?

9:10 – Three tax buckets

10:07 – Tax strategies to consider when you’re working

12:05 – How taxes fit into legacy planning

13:39 – Required minimum distributions

17:57 – Frank’s favorite bands

19:12 – Listener question on tax-free income

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