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Tax Planning Near Retirement

If you are 5 to 10 years away from retirement, you might be making a costly mistake by defaulting to Roth 401(k) contributions. In this video, Carl R. Lymangood, CPA, reveals a powerful long-term tax arbitrage strategy designed to maximize your wealth and minimize the IRS's cut. Carl explains the difference between Tax Preparation (looking at just one year) and Tax Planning (looking at your entire lifetime). He introduces the concept of the "Golden Window"—the unique period between your retirement date and when you claim Social Security/RMDs—where your income drops significantly. By strategically timing your contributions and withdrawals around this window, you can deduct taxes at a high rate today and pay them back at a much lower rate later. In this video, you will learn: 1. The Planning Mindset: Why focusing on lowering this year's tax bill is often the wrong approach for building long-term wealth. 2. The "Golden Window": How to identify and exploit the low-income years immediately following retirement. 3. The Switch Strategy: Why shifting from Roth to Traditional 401(k) contributions in your final working years can save you thousands. 4. The Math: A breakdown of how deducting at the 24% bracket today and withdrawing at the 12% bracket later creates an instant "return" on investment. 5. The Long-Term Impact: A case study showing how this single strategy resulted in $80,000 in tax savings and nearly $500,000 in additional wealth for one couple. Find us here: Website: https://www.petrosfamilytax.com LinkedIn:   / petros-family-tax   Disclaimer This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Carl Lymangood is an employee of Petros Family Tax & Petros Family Wealth. All opinions expressed by them are solely his own opinion and does not reflect the opinion of Petros Family Tax or Petros Family Wealth. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.