Q: How can retirees make the most of their money WITHOUT paying too much in taxes? (1:48)
Q: So the tax codes are actually written in favor of his citizens? (3:54)
Q: Where do we, how do we start making our money more efficient to benefit? Not only us, but our nation? (7:38)
Q: Talk about the aspect of social security being taxed in retirement. (9:09)
Q: So your guide, does your guide talk about this? (11:29)
Q: Where do you start to avoid paying taxes in retirement? Where do we begin? (15:30)
 
Q: How can retirees make the most of their money WITHOUT paying too much in taxes? (1:48)
A: Before we dive in, we need to clear up a common misconception and that is: "you do not have an ethical obligation to pay as cent more in taxes than what is owed."
In fact, you have a responsibility to make sure that you are paying the least amount of taxes possible. When we look at how taxes work in our country, Taxes are designed to be part of our economic engine. It's really is an extension of our economic policy. Taxes is how we make America Great!
Our tax engine is designed to move money around our economy and incentives behaviors that we as a country want and penalize behavior that is not helpful to our economy.
So when you think about "do rich people don't pay their fair share in taxes?"It's not that they're not paying their fair share in taxes. It's their contributing so much to our economy that they're being rewarded with not having to pay taxes...huge amounts of taxes.
Now, if we, as a society, decide that we are over-incentivizing that behavior, we will adjust the tax code accordingly. So when you think about "how do I pay the least amount in taxes," you're not cheating on taxes. What you are doing is you are repositioning your money so that it is being efficiently used, in the ways our nation wants...so that it helps America be Great!
Q: So the tax codes are actually written in favor of his citizens? (3:54)
A: it is written in favor of our nation. Our nation as a whole, not as an individual.
Because as, as a person, we are just a number,
We're a nation of 330 million people, plus a whole bunch of territories and allies. So we as a nation, we are statistics, and we as an individual have desires, and we have needs, and we have wants, and we want to continue to grow. And right now our economy makes up about 24% of the world's economy. That didn't happen by accident. That happened because we are very, intentional about how we use our money, and how we use our influence. And the tax code is just an extension of that.
Q: How do taxes change in retirement? (4:57)
A: in our working years, the tax code is set up to incentivize behaviors that we want. So it's set up to incentivize us to get married. We get a tax break. If we get married...to buy a house,  we get a tax break for that giving to charity. We get a tax break for those behaviors. Having kids, the government will actually give us money for having kids. Saving for retirement, getting a college education. All of these things are incentivized in our tax code.
When we move into retirement, a lot of that those incentives go away. When it comes to having kids, we're probably not having kids in retirement...or at least I hope not.  Things like saving for retirement. Those things kind of fall off in retirement. And so what we're left with is we now have all this money without any of the tax savings.
In fact, you could argue that we have negative incentives in retirement. Because all of a sudden, we have to start taking money out of our retirement accounts, and we have to start living off of that money.
And so all those incentives that we got to save our retirement, they start working against us, and before we were able to take those savings off of our tax return and not pay money in taxes.Well, now we have to pay taxes, but we have to pay taxes at the highest rate possible.
We're paying it as income tax, not as investment tax.
And so this shift happens in retirement, and it now shifts in fav