This week Jim and Cathlyn discuss how many taxpayers, particularly in California, are getting nasty surprises heading into tax season with retroactive 2012 tax increases and higher estimated Federal taxes for 2013. They discuss tools to reduce taxable income, and the investment and taxation implications of dividend-paying stocks, retirement plans and trusts. This week’s guest is Dr. Wade Pfau of The American College. He will discuss the “4% withdrawal rule” used in traditional retirement planning assumptions, and assess its strengths and weaknesses.
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