The overlooked tax opportunity for IRAs and 401Ks over $300,000

“If you’ve saved more than $300,000 in a traditional IRA or 401K, congratulations – you’ve already cleared one of the biggest hurdles that could help you retire successfully,” says financial advisor Ryan Thacker.

“But here’s what most families don’t realize,” adds Tyson Thacker. “You have an incredible opportunity right now that could significantly reduce your taxes with these tax-deferred accounts in retirement.”

Ryan Thacker and Tyson Thacker are the President and CEO of B.O.S.S. Retirement Solutions. They’ve helped over 50,000 families plan for a better retirement. And one of the critical pillars of this financial game plan is taking advantage of the right tax planning strategies that could significantly reduce your taxes in retirement.

“IRAs and 401Ks are ‘tax-deferred’ retirement accounts. This means you’re able to ‘defer’ paying taxes on your contributions, and on all of your investment growth too.

“But ‘tax-deferred’ doesn’t mean ‘tax-free.’ And when you start withdrawing money from these accounts in retirement, you’ll pay taxes on every dollar inside these accounts. And you will be shocked by the size of these tax bills,” adds Ryan Thacker.

In many cases, retirees have to make additional withdrawals just to pay the taxes. And this could cause them to run through their entire life savings much sooner than they thought.

The good news is when you take advantage of the right retirement tax planning strategies, it could give you more flexibility, more control and ultimately more money to spend on all of the things you want to do in retirement.

Tax planning for retirement could be the most effective, yet overlooked opportunity to significantly grow your wealth.–Ryan Thacker, B.O.S.S. Retirement Solutions

These forward-looking strategies could significantly reduce the taxes with your IRA and 401K withdrawals, as well as your Social Security benefits, other investment income, and on your Required Minimum Distributions (RMDs).

By carefully coordinating all of these different pieces, you could realize significant tax savings that could add up to tens of thousands – if not hundreds of thousands of dollars in lifetime savings.

“It’s not about paying fewer taxes than you owe,” explains Tyson. “It’s about making sure you don’t pay more taxes than you have to. Unfortunately, so many people make this critical mistake, and it costs them dearly. That’s why these proactive tax planning strategies are so critical.”

The Thacker brothers emphasize this is very different from simply preparing and filing your taxes every April.

“By the time your Accountant or CPA files your taxes on April 15th, it’s too late,” Ryan says. “At this point, you’re just reporting history. But if you get in front of this before you retire – or even early in retirement – you could realize significant tax savings.”

“The biggest thing,” stresses Tyson Thacker, “is to find out what strategies will work best for your specific financial situation.”

“You have to look at the total picture,” he continues. “And you have to consider all the strategies available. Tax planning is personalized – there is no one-size-fits-all strategy. But it’s very possible you could save a small fortune, even if you take advantage of a couple of these simple tax-planning strategies.”

That’s why B.O.S.S. Retirement Solutions offers a free, customized Retirement Tax-Savings Analysis. There’s no cost, or obligation – even if you’re not a client.

They make this simple and easy for you. Once they gather some basic details, one of their advisors who specialize in retirement tax planning will research the strategies that are best-suited for your situation.

Next, they’ll do a side by side comparison of how much money you’re projected to pay in taxes in retirement now, versus how much money you could save by using the tax planning strategies they’ve identified specifically for you.

This offer could be especially beneficial for families who have saved $300,000 up to a few million dollars for retirement.

To schedule your free, no-obligation B.O.S.S. Retirement Tax-Savings Analysis, simply call (801) 990-5055, or click here.

Tyson Thacker said, “Remember, it’s not how much money you make – it’s how much money you keep! Your small investment in time today, could yield massive tax savings tomorrow.”

About the Authors: Tyson Thacker and Ryan Thacker are the CEO and President of B.O.S.S. Retirement Solutions. They are published authors of the Amazon best-selling book, “The B.O.S.S. Retirement Blueprint, Your Guide to a Secure and Independent Retirement.” Their award-winning firm has seven offices located throughout the Wasatch Front.

This is for illustrative purposes only, results may vary. Advisory services offered through B.O.S.S. Retirement Advisors, an SEC Registered Investment Advisory firm. Insurance products and services offered through B.O.S.S. Retirement Solutions. The information contained in this material is given for informational purposes only, and no statement contained herein shall constitute tax, legal or investment advice. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. You should seek advice on legal and tax questions from an independent attorney or tax advisor. BOSS submitted applications and paid application fees to be considered for the Utah Best of State for Retirement Planning awards. The award results were independently determined by the awarding organization’s criteria (https://www.bestofstate.org/about.html) and the information BOSS provided in the applications. BOSS received the Utah Best of State award in 2019, 2020, 2021, 2022, 2023 and 2025. Our firm is not affiliated with the U.S. government or any governmental agency. Marketing materials provided by Infinity Marketing Services.