Summary: Jeffrey Levine discusses common retirement mistakes and strategies to optimize taxes and benefits. Analysis: neutral

From Yahoo Finance: 2025-06-19 07:00:00

In the podcast Decoding Retirement, Jeffrey Levine discusses common pitfalls retirees face, like underspending in early retirement. Many follow conservative withdrawal rules, limiting their lifestyle. Balancing legacy goals with enjoying retirement is crucial. Tax-friendly states can be appealing, but happiness should be a priority when relocating. Retirees must manage market, inflation, interest rate, tax, and longevity risks. Good tax planning considers lifetime tax bills, not just annual ones. Tax bracket management is crucial for retirees to minimize lifetime taxes. “Gap years” with low income are opportunities for strategic withdrawals. Roth conversions and deliberate income increases can optimize taxes. Claiming Social Security too soon is a common mistake; delaying can boost benefits significantly. Spousal strategies vary based on earnings.

Read more: 5 key retirement mistakes to avoid