When we think of the ultra-wealthy, we quickly assume they’re playing a totally different game, and we chalk it up as unattainable. But the truth is, we don’t need $25M to apply their strategies.
The ultra-wealthy treat taxes and income like a business. You can too.
Plan taxes like a CEO.
Don’t just file your return, be strategic:
- Use Roth conversions, tax-loss harvesting, and charitable giving
- Be proactive before big income events (stock vesting, business sales, retirement)
- Ask: What’s most important, reducing my tax bill today, or reducing my tax bill over my lifetime?
Design your income before you need it.
Wealthy families don’t wait until retirement to plan withdrawals. They blend different income sources and are ahead of it: Rental income, dividends, Roth withdrawals (for both stability and tax efficiency).
The difference? The wealthy play offense, not defense.
If we’re not currently working together and you don’t have a plan in place, now is the time, please reach out.
We’re here when you’re ready,
—Nic
A quick note:
*If you have friends or family that might find this helpful, please forward this their way.
**If we’re not yet working together and you’re already working with an advisor but have considered making a change, please know that we help people do this all the time. It’s a simple transfer process that can be done without you having to be involved at all (if you like).
Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. Dividend payments are not guaranteed and may be reduced or eliminated at any time by the company. This material is for general information and educational purposes only and is not intended to provide specific advice or recommendations for any individual. Investing involves risk including the loss of principal. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Independent Advisor Alliance and LPL Financial do not provide legal advice or tax services. Please consult your legal advisor or tax advisor regarding your specific situation
