In this episode, Trishul and Aaron discuss end-of-year tax planning, principally as it relates to your investments. During this period, you already know most your entire financial situation for the year. But also you still have time to take meaningful action before December 31st. Valuable strategies around this time involve tax-loss harvesting, RMDs, exercising ISOs without going into AMT, and Roth conversions. End-of-year tax planning does not always mean you should lower your taxable income. But instead, you should target a tax bracket that will help reduce your overall tax burden over your entire lifetime.
Episode References
MMS #19. Life doesn't need to begin at retirement. Here's why.
MMS #31. Watch out for these costly mistakes with your taxable investments.
MMS #26. Practical advice on navigating a dysfunctional healthcare system.
MMS # 43. Is your asset allocation putting your retirement at risk?
Graystone Advisor - Exercising ISOs
Investing Forever - It's all about fees.
Investing Forever - Don't miss out, you'll regret it.
Investing Forever - Ira is your friend.
Rebalancing: A sound strategy for limiting risk
Offsetting Gains through tax-loss harvesting
Capital Gains Taxes and Portfolio Rebalancing
Wash Sale Rule
SECURE Act
CARES Act
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.
Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.