Koch, President and CEO of KAM South, is frequently consulted by the media for his expertise on tax strategies, retirement and financial planning. Koch works with persons aged 55 to 70 to help them best prepare for retirement. Koch understands what can be done to best reduce taxes before age 70.5 when required distributions from 401(k) accounts begin.
Mr. Meltzer explains that America has an aging population– “by 2060, almost one quarter of the U.S. population will be age 65 or older.”
Below are some excerpts from this SPECIAL REPORT: Money in America article in which Koch was consulted. If you have a subscription to the Atlanta Business Chronicle, you may read it online, in its entirety, here. Or you may download a scan of the complete article, here.
If not, here are a few excerpts from the article, Taxes a Key Issue for Retirees:
The first question clients usually ask financial planner Christian Koch is “How much money do I need to retire?”
But that really isn’t the right question, say Koch, president and CEO of KAM South.
During their careers, investors get a tax deduction on contributions to their 401(k) but no deduction for contributions to the Roth IRA. So when it comes to making withdrawals in retirement, the Roth money has already been taxed. Koch calls the Roth “a tax-free growth bucket.
To limit tax consequences and give retirees more spendable income, Koch works with couples, usually aged 55 to 70, to shift retirement funds from 401(k) accounts to Roth IRAs.
“What’s Happened is folks have worked to build a nest egg, but they don’t know how to use the tax code to reduce their taxes,” Koch says.
To learn more about how to best plan for your financial future:Contact Christian Koch Today