It's often beneficial to target income for tax planning purposes while working and even more so during your retirement years when you have more control over how you generate your income. Realizing income in lower brackets while avoiding higher brackets is the essence of this strategy which can quickly get complex.
In this episode, Tyler Emrick, CFA®, CFP®, reviews a recent article from Dr. James M. Dahle of the popular "The White Coat Investor" blog and podcast that suggests planning for the Medicare IRMAA surcharge doesn't matter. Hear Tyler discuss IRMAA and its impact on your tax-smart retirement income planning. And be sure to pay attention to the broader framework of how to think about income targeting, which we'll dive into in more detail in an upcoming episode.