If you have $100,000 or more sitting in the bank, is that really the best place for it? For diligent savers, especially retirees with a pension and $1 million or more saved, holding extra cash can feel safe. But too much cash could mean missed growth opportunities and unnecessary taxes. In this episode of Joe Knows Retirement, Joe breaks down how much you may actually need in an emergency fund and several ways excess cash could potentially be put to better use.

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If you're single and retiring with a pension, your retirement plan may look very different from the typical retiree. From higher tax brackets and Medicare premiums to Roth conversions, legacy planning, and your pension election, several important decisions could have a major impact on your retirement.

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Many retirees hesitate to do Roth conversions because they believe the savings are only a couple of percentage points. But is that really the full story? In this episode of Joe Knows Retirement, Joe explains why focusing only on today's tax bracket can lead to costly mistakes later. If you have a pension, $1 million or more saved, or expect Required Minimum Distributions (RMDs), the true benefit of Roth conversions goes far beyond a simple 2% tax difference.

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Should you own real estate if you have a pension and $1 million or more saved? Many retirees assume real estate is the obvious next investment, but the answer is more complicated than most people realize. In this video, Joe breaks down the biggest tax advantages of real estate and explains why most of our clients ultimately choose not to own rental properties in retirement despite the potential tax savings.

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Roth conversions can be one of the best tax planning strategies in retirement, especially if you have a pension and $1 million or more saved. But what if the bigger opportunity isn't just saving taxes? In this episode of Joe Knows Retirement, Joe challenges Midwestern Millionaires to think beyond Roth conversions and ask a much bigger question: What is the real purpose of your money?

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If you have a pension and $1 million or more saved for retirement, simply filing your taxes may not be enough. The bigger opportunity could be proactive tax planning. In this episode of Joe Knows Retirement, Joe covers 8 more retirement tax strategies your CPA or financial planner may not be talking about.

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You're 60 years old, you have a pension, and you've saved $2 million for retirement. Congratulations! But now comes one of the biggest tax planning decisions you'll ever make: should you be doing Roth conversions? In this episode, Joe walks through a real-world case study showing why Roth conversions may make sense for retirees with pensions and substantial retirement savings. You'll learn why this situation is different than most retirees, how Required Minimum Distributions (RMDs) can create a future tax problem, and how proper planning could potentially save hundreds of thousands of dollars over your lifetime.

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If you're retiring soon with a pension, your retirement planning is different than most people. Less than 20% of retirees have a pension, and if you've also saved $1 million or more, you're in a unique financial position that requires more advanced planning. In this episode of Joe Knows Retirement, Joe covers the biggest retirement mistakes to avoid before making irreversible pension decisions.

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