San Diego Financial Planner says “Tax Planning Isn’t Just For The Rich”

Andrew Russell CFP, Managing Partner of Dean Russell Roland was quoted in the New York Times on Saturday August 8th 2015 saying “Tax Planning Isn’t Just For The Rich”.  He was asked to help with a story on how to extend savings without working longer.  At DRR, we take a comprehensive approach to financial planning.  However, one common thread that runs through all areas of financial planning is taxation.  Whether you’re in the highest tax bracket or lowest, you can always benefit from some tax planning.  In the New York Times article, I shared with writer  the benefits of utilizing low income tax years to max out lower tax brackets and shift assets from tax deferred retirement accounts into tax-free Roth IRA’s.  The result was paying low current tax, increasing after-tax and Roth IRA savings, and potentially lowering future tax on social security income.  The article goes on to discuss several other strategies that can also be helpful when retirement assets are limited.  To read the entire article click here.