In this episode of the Ask Ralph Podcast, Ralph Estep Jr. answers a listener's question about how to reduce taxes on 401K withdrawals. Ralph goes over several friendly strategies to help you hold onto more of your money, like figuring out your tax bracket, thinking about Roth conversions, and checking out tax-advantaged withdrawal options. He also highlights the value of chatting with a good financial advisor to create a plan just for you. Tune in for some easy-to-understand financial tips and a touch of biblical wisdom to better manage your retirement savings.
https://www.askralphpodcast.com/reduce-my-taxes/
00:00 Episode Overview
01:25 Listener Question
02:12 Understanding Your Tax Bracket
04:27 Roth Conversions
05:44 Tax-Advantaged Withdrawal Options
08:13 State Taxes Considerations
08:33 Final Thoughts
09:33 Outro
