Life Money Balance® Podcast
The Life Money Balance® podcast helps you “let your life lead your money, not your money lead your life” and engage with your journey to create your life's design. The podcast uses compelling conversations that combine money psychology with personal finance topics to improve your well-being and achieve your life aspirations.
Your host Dr. Preston D. Cherry (“Dr. Cherry”), interviews guests and performs solo shows to provide an emotion-safe space where real people engage in real talk and share authentic moments. Let’s chop! Learn more by following @drprestoncherry, Certified Financial Planner, Certified Financial Therapist, University Professor, and Founder & President of Concurrent Financial Planning, www.concurrentfp.com.
Life Money Balance® Podcast
Most Retirees Are SHOCKED When They Learn This Social Security Tax Trap
🚨$250k+ household income and $500k+ assets...? You’re ready for a personalized plan! Book your FREE retirement readiness call 👉 https://www.concurrentfp.com/
Want confidence that your retirement plan ACTUALLY works? Get it inside my Financial Harmony™ membership ($115/month) 👉 https://www.concurrentfp.com/financial-harmony-membership/
Take the Gen X Retirement Readiness Quiz...đź“Š https://concurrentfp.typeform.com/genx-scorecard
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Most Retirees Are SHOCKED When They Learn This Social Security Tax Trap
Up to 85% of your Social Security can be taxed - and it starts at just $32,000 of income for Gen X retirees.
In this video, Dr. Preston Cherry (CFP®, Ph.D., Top 10 Investopedia Advisor) explains how IRMAA, RMDs, and Social Security tax rules can blow up your retirement income plan - unless you coordinate ahead of time.
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This isn’t just about saving more - it’s about coordinating smarter.
What You’ll Learn in This Video 👇
✅ Why Social Security isn’t tax-free (for high-income Gen Xers)
✅ What IRMAA is — and how it quietly spikes your Medicare premiums
âś… How Required Minimum Distributions (RMDs) trigger a triple tax hit
âś… How to avoid the most common tax traps in early retirement
âś… The 3-step strategy to lower your lifetime tax bill (and stress)
âś… Smart withdrawal sequencing using Roths, brokerage, and QCDs
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Who Is This Video For?
đź“Ś Gen X professionals (50s - early 60s) preparing for retirement
đź“Ś Households earning $200k+ or holding $500k+ in retirement assets
đź“Ś Couples unaware of IRMAA, RMD, and Social Security tax overlaps
đź“Ś Anyone confused about how retirement income is actually taxed
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🚨 Gen X, older millennials & pre/early retirees, with $250k+ household income and $500k+ assets... Ready for a personalized plan? Book your FREE retirement readiness call 👉 https://www.concurrentfp.com/
Want clarity & control without $6K+ annual advisor fees? Join my Financial Harmony™ membership for $115/month 👉 https://www.concurrentfp.com/financial-harmony-membership/
Take the Gen X Retirement Readiness Quiz...đź“Š https://concurrentfp.typeform.com/genx-scorecard
👉 Subscribe for weekly, values-aligned wealth insights: @DrPrestonCherry
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Keywords linking to this topic:
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