💸5 Retirement Tax Strategies Your Advisor May Not Be Talking About

If you're retired—or within about five years of retirement—tax planning can be just as important as investment planning.In retirement, it isn't just about how much your portfolio earns. It's about how much you actually get to keep.In this episode of The Retirement Income Lab, Patrick Huey, CFP® breaks down 5 overlooked retirement tax strategies that could help you reduce lifetime taxes, manage future tax exposure, and keep more of your retirement income.These aren't gimmicks or loopholes. They're practical strategies for retirement planning that can be incorporated into a comprehensive retirement income plan.In this episode, you'll learn:1. Roth Conversions in the Retirement "Gap Years"The years between retirement and Required Minimum Distributions can create an important opportunity for strategic Roth conversions. We discuss how converting portions of a traditional IRA to a Roth IRA may help manage future RMDs, tax brackets, Social Security taxation, Medicare premiums, and even what your heirs ultimately inherit.2. Why Your Retirement Withdrawal Order MattersShould you spend your taxable accounts first? Your IRA? Your Roth IRA?There's no universal answer. A coordinated withdrawal strategy can use multiple account types to help manage your tax bracket over your retirement—not simply minimize taxes in one particular year.3. Qualified Charitable Distributions (QCDs)If you're charitably inclined and eligible, a Qualified Charitable Distribution from an IRA may provide an important tax-planning opportunity. We discuss how QCDs can interact with RMDs, taxable income, Social Security taxation, and Medicare premium surcharges.4. Asset Location vs. Asset AllocationMost investors understand asset allocation. Fewer pay attention to where their investments are held.Different account types receive different tax treatment. Thoughtful asset location may improve after-tax outcomes without requiring you to take additional investment risk.5. The Hidden Tax Cliffs in RetirementYour marginal tax bracket isn't the only thing to watch.Additional income can affect:Social Security taxationMedicare IRMAA premiumsCapital gainsRequired Minimum DistributionsFuture tax bracketsThe important question isn't just, "What tax bracket am I in?"It's also:"What happens if I recognize one more dollar of income?"The Bigger Retirement Planning LessonA retirement plan that simply says, "Take what you need and we'll deal with the taxes later," may be missing an important opportunity.A more coordi