Episode 110: Keep More of What You’ve Earned: Faithful Tax Strategies for Retirement
In this week’s episode, Jay Peroni, CFP® focuses on one of the most overlooked threats to retirement success – taxes. While many retirees concentrate on growing their savings, the reality is that how much they keep after taxes can have an even greater impact on long-term financial security.
Jay explains that Social Security is not always tax-free, but recent legislation, specifically the Senior Bonus Deduction, creates a significant opportunity for many retirees to reduce or eliminate taxes on their benefits. However, higher-income households still face taxation, making proactive planning essential. He highlights how pre-tax retirement accounts like 401(k)s and IRAs can create “tax time bombs,” especially when combined with Required Minimum Distributions, potentially pushing retirees into higher tax brackets.
The episode emphasizes a critical four-year planning window through 2028, where strategies such as Roth conversions and income management can significantly reduce lifetime taxes. Jay underscores the importance of diversification across taxable, tax-deferred, and tax-free accounts to create flexibility and control over retirement income.
In addition to tax strategies, the show integrates faith-based investing, encouraging listeners to align their portfolios with biblical values. Retirement is framed not just as a financial milestone, but as a season of stewardship, purpose, and legacy.
The second segment introduces emerging tools like “Trump Accounts,” which allow families to jumpstart retirement savings for children, reinforcing the theme of generational planning. The discussion also highlights the importance of managing adjusted gross income to reduce taxes, Medicare premiums, and other costs.
Ultimately, the key message is clear: intentional tax planning can help retirees reduce lifetime taxes, protect income, align investments with their faith, and leave a meaningful legacy for future generations.
For more information, contact Faith Investor Services today.
