Can You REALLY Live Tax-Free in Retirement If You Have a Pension?

Can you live completely tax-free in retirement, even if you have a pension? In this episode of Joe Knows Retirement, Joe breaks down exactly how your pension, Social Security, and the new bonus deductions can impact your taxes, and shows how some retirees are “divorcing the IRS” for good.

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Timestamps:
00:00 — Can You Live Tax-Free in Retirement with a Pension?
1:34 — Understanding the 2025 Standard Deduction & Bonus Deduction
03:24 — How Social Security Becomes Taxable
05:32 — Case Study: How the Bonus Deduction Impacts Married Couples Over 65
10:32 — Example 1: No Pension
13:07 — Example 2: $25k Pension
15:27 — Example 3: $50k Pension
15:48 — Example 4: $100k Pension
16:42 — Key Takeaways

Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is a Securities and Exchange Commission registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.