Which age/category does the speaker recommend for accelerating drawdown of tax-deferred accounts?

Craig Wear, CFP®Craig Wear, CFP® | Expert in Roth Conversions & Tax-Efficient Retirement Strategies for IRA Millionaires

Master Your Taxes and Play The Long Game

9 Nov 2024 · 1 min

Watch on YouTube

0:32

Craig Wear, CFP® explains tax planning as a long-game strategy and warns that repeatedly minimizing taxes in the short term can create a large deferred tax liability later. He advocates accelerating drawdown of large tax-deferred accounts "faster is much better" for many people and gives an approximate age/category recommendation ("C to 75").

Questions this video answers

"C to 75" (speaker: "If you're in the right age, category C to 75, I'll say, is probably a good bracket.")}]}}}```

Chapters

So getting this right is really important. And understanding that you're playing the long game on this is really important to the short game. Says, how do I pay less tax this year? Well, that's part of the problem that you've got yourself in by paying less tax every year is you've deferred this large account and now you have to pay the piper. It's time. And what we've discovered is that doing it faster is much better for you than doing it slower. If you're in the right age, category C to 75, I'll say, is probably a good bracket.