How Advisors Can Use Tax-Saving Strategies to Maximize Retirement Income
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Tax planning is a multifaceted approach that extends beyond simply complying with tax obligations. It's about leveraging tax benefits and implementing strategies that meet the individual's goals. Among the many strategies available, annuities are unique and effective tools that help individuals secure their financial future while minimizing the tax burden. Annuities can be tailored to meet individual needs and are often combined with other tax-saving strategies to create a comprehensive plan for maximum retirement savings.

In this episode, DPL's Regional VP Jonathan Barth is joined by Patrick Perry, Consultant at DPL. Before working at DPL, Patrick served as an annuity specialist at Larry Gordon Agency. He takes pride in helping RIAs identify opportunities to grow their AUM and better serve their clients using commission-free insurance and annuities.

Patrick and Jonathan discuss strategies for mitigating taxes and maximizing growth in a financial plan. They highlight the upcoming changes to tax cuts in 2025 and how they will impact clients' tax bills. They also explore the benefits of using annuities in tax planning, such as the RMD strategies, investing in annuities for high-net-worth clients, tax-efficient withdrawal strategies, tax-free exchanges, and qualified charitable distributions.

Key Takeaways

• [02:54] - An overview of Patrick's professional experience.
• [05:07] - Patrick's key takeaways on what will happen when taxes are rolled back in 2025.
• [06:30] - Strategies to mitigate taxes.
• [07:15] - How required minimum distributions (RMDs) work in annuities.
• [09:02] - Benefits and limitations of the RMD strategy.
• [11:34] - Key strategies for high-net-worth clients.
• [15:17] - How annuity withdrawals are taxed.
• [15:48] - Tax-efficient withdrawal strategies.
• 17:44] - Tax-free exchange available at DPL Financial Partners.
• [19:19] - What the qualified charitable distribution is all about.