Good Tips from a Financial Seminar

I attended a complementary financial seminar a dinner a few days ago. Most seminars Here are my key takeaways from the presentation.

• One's job is only half done at 65, a typical age of retirement.   This is still important work to do.  Financial stewardship is a major job in retirement:  Ensuring enough funds to cover lifetime expenses, maximizing income generate, and spending for enjoyment.  This is work that requires educating oneself or hiring others with the knowledge.
  
  
• Managing finances to legally reduce current and future taxes is a important task for retirees.  Retirees need to be aware of strategies that can help reduce or eliminate taxes on long term capital gains, dividends, and RMDs.  In addition, there are a number of tax efficient ways to get more tax benefit from charitable contributions.

I was aware of many of the methodologies:  0% dividend long term capital gains tax bracket, 1031 real estate exchange, and donor advised funds.   My new learning was about QLAC which can delay taking RMDs until age 85, but probably will not use.

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This is not financial, retirement, nor tax advice. Please consult a professional advisor.

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