What should you do with your 401(k) when you retire? After working for 30 or 40 years and saving diligently, many retirees reach the same question: should you leave your 401(k) where it is or move it to an IRA? In today's episode, Joe walks through the four key things every retiree must understand before making this decision. Getting this wrong could cost you thousands in missed opportunities, higher taxes, or poor investment flexibility.

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Roth conversions can be one of the most powerful tax strategies for retirees. But we constantly see people avoid them because of a few common myths. If you have a pension and have saved $1 million or more for retirement, these misconceptions could cost you a lot in unnecessary taxes over time. Joe breaks down three of the biggest Roth conversion myths we hear from retirees and pre-retirees. Understanding these could help you make a much smarter decision about when and how much to convert. If you want to reduce lifetime taxes, protect your retirement income, and plan more efficiently around pensions, Social Security, and RMDs, this is a strategy you should understand.

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If you recently inherited an IRA or expect to receive one in the future, there are some major tax mistakes you need to avoid. Many retirees assume they can treat an inherited IRA just like their own retirement account. Unfortunately, the rules are very different, and making the wrong move could cost you thousands in unnecessary taxes. In today's episode of Joe Knows Retirement, Joe walks through 7 key strategies to help you handle an inherited IRA the right way, especially if you're part of the group we often work with: retirees who have pensions and $1M or more saved. If you're a diligent saver, a pension holder, or what we call a Midwestern Millionaire, these planning decisions can make a huge difference in your retirement strategy.

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📚Get a FREE copy of Joe's book "2% Club":
https://keap.page/bsd964/2-percent-toolkit-podcast.html

🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/tax-planning-strategies-if-you-have-a-million-dollars

📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/