Taxes in Retirement
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Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date
Taxes in Retirement bo peep 06-25-2009
| `--> Re: Taxes in Retirement Rubaiyat of Oma...06-25-2009
Posted by bo peep on June 25, 2009, 11:11 am
As I near retirement age, I keep getting postcards from various local
insurance companies inviting me to attend "free" retirement seminars
where I can learn how to "avoid taxes on social security benefits and
IRA withdrawals". I'm not willing to sit and listen to an insurance
salesman for 1 to 2 hours to learn about this, but I would like to
know generally what this is about, and if there is any validity to it.
Avoiding taxes is usually a Good Thing.


Posted by PeterL on June 25, 2009, 12:24 pm
> As I near retirement age, I keep getting postcards from various local
> insurance companies inviting me to attend "free" retirement seminars
> where I can learn how to "avoid taxes on social security benefits and
> IRA withdrawals". I'm not willing to sit and listen to an insurance
> salesman for 1 to 2 hours to learn about this, but I would like to
> know generally what this is about, and if there is any validity to it.
> Avoiding taxes is usually a Good Thing.

They are probably selling annuities.


Posted by Yadda on June 27, 2009, 10:11 am
on 6/25/09 11:24 AM PeterL said the following:
>> As I near retirement age, I keep getting postcards from various local
>> insurance companies inviting me to attend "free" retirement seminars
>> where I can learn how to "avoid taxes on social security benefits and
>> IRA withdrawals". I'm not willing to sit and listen to an insurance
>> salesman for 1 to 2 hours to learn about this, but I would like to
>> know generally what this is about, and if there is any validity to it.
>> Avoiding taxes is usually a Good Thing.
>
> They are probably selling annuities.
>

Never "learn" from selling you a product. Educate yourself first then
go shopping.


Posted by Avrum Lapin on June 25, 2009, 2:07 pm
In article

> As I near retirement age, I keep getting postcards from various local
> insurance companies inviting me to attend "free" retirement seminars
> where I can learn how to "avoid taxes on social security benefits and
> IRA withdrawals". I'm not willing to sit and listen to an insurance
> salesman for 1 to 2 hours to learn about this, but I would like to
> know generally what this is about, and if there is any validity to it.
> Avoiding taxes is usually a Good Thing.

Since the presenter is from an insurance company they are probably
selling annuities of one kind or another, but that comes later. What
they are doing up front is collecting names and phone numbers to that
they can call you and make a harder sales pitch.

You will also hear that if you keep the combination of 1/2 your social
security income and the rest of your income under $25K ($32K if married
and filing jointly) then none of your social security income is taxable.

If you have sales resistance you might even get a free meal out of the
deal.


Posted by Igor Chudov on June 25, 2009, 2:24 pm
The general rule is that there is nothing good to be gained from "free
seminars" of any kind.

i


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