Education

Retirement Taxation Masterclass

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Course Promise

Times are changing, Take advantage of the change.

COVID-19 has created a unique environment where a modern retirement financial plan is more important than ever to ensure your future financial safety.

  • After the decline, it’s important to re-evaluate where you’re at.
  • Make decisions based on current market conditions, not the past.
  • Good planning with unique opportunities will increase your retirement solutions.
  • With increased economic uncertainty, a plan will give you the confidence you need to enjoy your retirement.
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What You Get

Understanding the “Reality” of the tax system around us is the first place we will explore in this masterclass. This class is ABSOLUTELY about making individual improvements in your finances but first we must seek to understand the moving pieces around us. Make sure you listen to the end of this Section because I share with you Our Course Promise and the desired outcome of this course.

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The Reality of Your Tax Story

Let me introduce you to a “Tax Story”. This is the fundamental tool that the Brighter Wealth Academy has created to simplify the retirement tax planning conversation and help our students simplify the decisions to make the largest tax planning impact. We will use the Tax Story for Bill & Janet as an example not only in this lesson but throughout this entire masterclass to help apply each concept learned in this class.

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The Reality of Temporary Tax Brackets

Our tax environment is always changing! This lesson explores the changes that were made in the 2018 Tax Reform; Standard Deduction doubling, SALT taxes being capped and Tax Brackets being reduced. Consider how these changes will effect your retirement finances (if you have no idea how these will effect you then… you are in the right class to learn how they will:)
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The Reality of Disappearing Deductions

You will be more likely to use the Standard Deduction in retirement than the Itemized Deduction. Why? This lesson will explain why most of the itemized deductions that you might be used to during your working years will most likely disappear leaving you with the standard deduction.
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The Reality of Tax Increases

The financial health of our country will have a direct effect on your retirement financial health. In this lesson we will discuss the U.S. financial health and a few possible solutions that congress might use to improve that health. Most importantly, however, will be to consider how these changes might impact YOUR financial health to your benefit or to your detriment.
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Course Promise

This lesson outlines our “course promise” to you and the potential impact that this masterclass can have in your retirement finances. I share two stories of students that have come through this class and experienced this same course promise. As you listen to these stories consider what additional confidence you might have in your own retirement if this course promise came true for you.

Essentials

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Protecting your Retirement in the COVID-19 Era

This 45min Virtual Class is designed to help you better understand how our retirement landscape has changed because of the recent pandemic. And more importantly by completing this class you will gain confidence in your ability to create a plan that will succeed in any economy. You will learn:

4 Risks that Threaten Your Retirement in 2020


  • Timing Risk
  • Increasing Taxes
  • Increasing Healthcare Costs
  • Inflation Risk

4 solutions that will protect your retirement in any economy


  • Create different types of assets
  • Implement a retirement tax plan
  • Leverage your current accounts
  • Reduce Risk, Increase Returns

Syllabus


Download
Get a sneak peek at this class content by downloading the syllabus. The concepts are relatable and simple but often misunderstood or thought of as too complicated. Download here and join us in class.

Workbook


Download
Follow the content of the class with this easy to understand workbook. This provides space for your notes, additional questions to answer about your retirement health and beliefs. See you in class.

Elements

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What is your Retirement Tax Story?

Understanding whether you will pay MORE or LESS taxes in retirement can empower you to make strategic tax planning decisions...NOW. The tax rules change when you replace your W2 income with Social Security, Pension and Investment Income. Come learn how to prepare.

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IRA vs. Roth IRA

The debate over which one of these accounts is better than the other has been going on for decades. I would like to share with you a short story that should finish that debate here and now:) Also you'll learn 2 different methods to get more money into your Tax-Free Roth IRA.

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3 Types of Money

Did you know that there are 3 Types of Retirement Money? And there is a mathematically ideal amount to have of each type in order to maximize your retirement income in a rising tax-rate environment. Come learn what they are and how much is ideal to have.

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What are In-Kind Donations?

Donations to Deseret Industries, Goodwill, or Savers will earn you an additional itemized deduction each year but did you know about donating appreciated stocks from your investment account? Both of these are In-Kind Donations and have a powerful place in your finances.

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How A Donor Advised Fund(DAF) Works

Get a large tax deduction NOW and donate to your favorite charity LATER. A Donor Advised Fund is an effective tool to set aside funds for future contributions to your church, university or charitable cause. Come learn how to take advantage of this tool.

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What is a Qualified Charitable Distribution (QCD)?

If you have an IRA/401k account and you plan on giving one-time or frequent donations to charity, then this is a MUST HAVE tax strategy in retirement. This video explains a QCD and it's history, requirements, and benefits. More to you... Less to the IRS.

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3 Ways to take Advantage of a Down Market

Often when our investments have taken a steep drop in value, we are frustrated and feel powerless. However, in this recent FB Live I will share with you 3 things you can do to take advantage of the down market and turn lemons into lemonade. Come see how.

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Covid-19 Argument Roth Conversions

The recent 2020 Pandemic has brought along with it a unique set of IRS and economic changes that might increase your desire to complete a Roth IRA conversion before the end of the year. In this FB Live I'll share how to know if it's a good fit for you. Come watch.

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A Penny Saved is a Penny Earned

A good retirement plan has lots of EARNINGS but a great retirement plan also adds lots of SAVINGS. Tax planning inside of our retirement plan should be a top priority. In this recent FB Live I share with you a few ideas about how to add savings into your plan.

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Covid-19 Tax Planning Opportunities

There have been recent economic shifts and IRS tax code changes that might have opened the door for your next tax planning opportunity. Increased US Debt, the Cares Act, deferred RMDs, and increased standard deductions are just a few. Come watch.

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Covid-19 Stimulus Package

In a recent FB Live I unpacked the details behind the recent Cares Act stimulus package. Most importantly, I shared how the long-term negative impact might cast a large shadow in comparison to the nice check that you recently received in the mail. Join me.

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Now is the time for Tax Planning

Timing is everything these days. With so much changing in the world around us, take advantage of that change and see how a few simple tax planning moves might make a significant impact on the success of your retirement plan. It's urgent... Come hear why.

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Take Advantage of 2020’s NO RMDs

In a recent FB Live I highlighted why a simple paragraph from the Cares Act might be a big tax money saver for you in 2020. If your RMDs are being automatically sent to you each year you might consider a phone call to change that. Come learn why you should call.

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Tale of Two Tax Torpedos

Don't get hit by either of these Social Security tax torpedos... most people don't see them coming. In this recent FB Live I will share what these torpedoes are and how to avoid them. If Social Security is your primary income, then you'll want to watch this video.

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The BIg 3 Roth Conversion Mistakes

WHAT you do is important but HOW you do it can make or break it's success. In this video I want to share with you some actionable insight that will prepare you for your next roth IRA conversion. Watch out for these 3 common mistakes and you'll be successful.

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Protect Your Investments with WealthGuard

Your investments are central to the success of your retirement plan. That's why it's important to surround yourself with a retirement team and technology to monitor and protect your investments 24/7. This video will highlight WealthGuard™ as a vital tool for success.

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