Framework | E147 | Ed Slott: How Taxes Can Kill Retirement Dreams

Taxes are the biggest challenge for investors approaching retirement, says Ed Slott, Founder and President of Ed Slott and Company, Professor at The American College of Financial Services and nationally recognized IRA distribution expert. In today's episode of Carson Group and PIMCO's Retirement Income Series, Ed shares insights and strategies to minimize taxes in retirement.
Ed was a thirtysomething CPA in 1986 when he shifted the course of his career to focus on educating consumers and finance professionals about IRA distributions and retirement planning.
“The tax rules governing IRA and 401(k) distributions came out, and I had an epiphany," he says. "All of this money is going to accumulate and come out. Minimizing tax with good retirement planning will be key."
Today his firm is the go-to source for IRA expertise, and Ed has been named “the best source for IRA advice" by the Wall Street Journal.
One key piece of advice he shares with financial advisors: financial planning is tax planning.
“If you advise on Roth conversion, you're doing tax planning. If you advise beneficiaries on legacy planning, you're doing tax planning," Ed says. "And if you're not doing it, somebody else is and you're going to lose that client."
In today's episode, Ed speaks with Jamie and Devin Ekberg, Senior Consultant and Education Advisor with PIMCO, about all things tax and IRA. He explains why now is the right time to convert IRA accounts, the latest IRA, SECURE Act and SECURE Act 2.0 regulation, how to minimize estate taxes and more.

Show notes and other information: https://www.carsongroup.com/framework/

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