MOKAN Wealth Management

08/26/2026

Many people save for years in 401(k )s and IRAs. When they retire, the money they take out can change how much of their Social Security is taxed.

In his newest Kiplinger article, Retire Roadmap Academy founder Kyle Hammerschmidt explains how these tax rules work. He also shares how moving some money from a traditional IRA to a Roth IRA before Social Security begins may give families more choices later.

The main point is simple. Retirement income, Social Security, and taxes should be planned together.

Read the full article: https://www.kiplinger.com/retirement/social-security/reducing-taxes-on-social-security

This post is for education only. Talk with your tax and financial professionals before making changes.

This is how you can sidestep the "Social Security tax torpedo," a common issue where tax-deferred retirement accounts unexpectedly increase your tax burden.

06/26/2026

Kyle just published his latest article in Kiplinger.

The Midterms Offer a Unique Tax Planning Opportunity. But Most Retirees Miss It.

Most people see a rough market year and do exactly nothing.

But a midterm election year pullback can be one of the most powerful tax planning windows available.

Here is why.

Since 1950, nearly every midterm election year has produced a meaningful pullback in the S&P 500. The average intrayear drop in midterm years has been approximately 16.7%.

And historically, once the midterm passes, returns have tended to recover meaningfully. The average 12-month return following midterm year lows has historically been around 36.5%.
Think about what that means for a Roth conversion strategy.

Converting during a dip may allow the potential recovery to happen inside the Roth account where that growth could be completely tax-free for the rest of your life, assuming qualified distributions.

Same shares. Potentially lower tax bill. Recovery happens inside the Roth.

This window does not stay open forever. Markets recover. Bracket space fills up. RMDs begin.

For anyone with $1 million or more in pre-tax accounts who has not yet run a detailed Roth conversion analysis, 2026 may be worth a closer look.

Kyle asks this in the article: If the market dropped 15% tomorrow, would you know exactly how much to convert and into which account?
If the answer is no, that is the planning gap to close now.

Read the full article here:

https://www.kiplinger.com/taxes/tax-planning/midterms-and-tax-planning-opportunities

This is for educational purposes only and does not constitute personalized tax or investment advice. Past performance is not indicative of future results. Always consult a qualified tax professional before making financial decisions.

Markets tend to experience uncertainty leading up to midterm elections, followed by recovery. Canny investors recognize that dip as a tax planning opportunity.

06/25/2026

The Retire Ready Roadmap™ is now an Amazon Bestseller.

You did everything right. You saved. You invested. You followed the rules.

So why does retirement still feel uncertain?

Most people are handed pie charts, generic rules of thumb, and vague guidance like “stay diversified” or “delay Social Security.” But when the paychecks stop, the real questions begin.

When can I retire with confidence? How much can I safely spend each year? How do taxes affect my income in retirement? What happens if the market drops early on? How do healthcare costs, Social Security, and investments all fit together?

The Retire Ready Roadmap™ answers all of it.

Inside you will learn how to turn your savings into a reliable retirement paycheck, avoid the tax mistakes that quietly erode retirement income, navigate the Critical 15 years that matter most before and after retirement, coordinate Social Security, investments, and withdrawals into one strategy, and build a flexible plan that adapts as life changes.

Whether you are five years from retirement or already there, this book will help you move from uncertainty to clarity.

Retirement should not be a guessing game. It should be the most intentional chapter of your life.

Grab your copy here:

https://www.amazon.com/Retire-Ready-Roadmap-Plan-First-Investment-ebook/dp/B0GXSV2ZTY

This book is for educational purposes only and does not constitute personalized investment, tax, or legal advice. Always consult a qualified professional before making financial decisions.

The Retire Ready Roadmap: A Plan-First Framework for Income, Tax, Investment, Healthcare, and Legacy

06/24/2026

The years between retirement and age 65 are one of the best tax planning windows of your life.

Social Security has not started. RMDs have not kicked in. Your tax bracket is as low as it is going to be for a long time.

But many early retirees waste this window chasing ACA subsidies.

By suppressing income to keep premiums low, they miss the opportunity to do Roth conversions at historically favorable rates. And when RMDs start at 73 or 75, the tax bill that follows can dwarf any savings they got from subsidies.

Kyle covers exactly this situation in his latest Kiplinger article.

The goal in retirement is not to minimize taxes this year. It is to minimize them over your lifetime.

Read the full article here:

https://www.kiplinger.com/taxes/tax-planning/retiring-early-aca-subsidy-could-be-a-tax-headache

This is for educational purposes only and does not constitute personalized tax or investment advice. Always consult a qualified professional before making financial decisions.

Health care subsidies can be a valuable benefit in early retirement, but locking them in now can mean higher taxes later. Here's what you need to consider.

06/23/2026

Kyle published this piece in Kiplinger back in April and it is still one of the most relevant conversations we are having with clients right now.

If you are planning to retire before 65 and have $1 million or more saved in 401(k)s and IRAs, this one is worth reading.

The short version: ACA subsidies can save you $15,000 to $20,000 a year on health insurance between retirement and Medicare. Sounds great. But chasing those subsidies may cost you far more in lifetime taxes.

Here is why.

To qualify for subsidies your income has to stay below certain thresholds. So early retirees suppress their income. They pull less from their accounts. They avoid capital gains.
And most importantly, they skip Roth conversions.

That last one is where it gets expensive.
Read the full article here:

https://www.kiplinger.com/taxes/tax-planning/retiring-early-aca-subsidy-could-be-a-tax-headache

This is for educational purposes only and does not constitute personalized tax or investment advice. Always consult a qualified professional before making financial decisions.

Health care subsidies can be a valuable benefit in early retirement, but locking them in now can mean higher taxes later. Here's what you need to consider.

12/31/2025

They had $2.3 million saved and still didn’t know if they could retire.

A couple came to us—age 60 and 62. Same advisor for 12 years.

But they had no clear answers to questions like:

When can we retire comfortably?

How much can we safely spend each year?

When should we claim Social Security?

What’s our plan for healthcare?

Their advisor had focused on performance and pie charts. But never connected the dots to show them how to actually use their money in retirement.

That’s the difference between having a portfolio and having a retirement plan.

Here are the 7 questions your advisor should help you answer before you retire:

1. When can I comfortably retire?

2. How much can I safely spend?

3. When should I claim Social Security?

4. What order do I take withdrawals from my accounts?

5. Should I be doing Roth conversions—and when?

6. How should I invest as I near retirement?

7. What’s the plan for healthcare and Medicare?

If you don’t have clear answers to these, it might be time for a second opinion.

Build your dream retirement with Guardrails: https://www.mokanwealth.com/get-started=========================================Timestamps:=====================...

06/19/2025

Mike is 57.
His goal?
Retire at 61 and live on $8,500/month with confidence and control.

Here’s the strategy we built together:

✅ Spend from Roth and after-tax accounts first
→ Keeps MAGI low and gives him more control over what shows up on his tax return

✅ Claim Social Security at 62
→ Locks in early income and reduces pressure on his portfolio

✅ Run annual Roth conversions
→ Not just to “fill a bracket,” but to reduce future RMDs and avoid Medicare (IRMAA) surcharges later on

This approach gives Mike more freedom in the early years…
And more control in the later ones.

Because retirement isn’t just about income.
It’s about making smart, intentional moves now, that pay off for decades to come.

This post is general education, not financial advice.

01/01/2025

Sarah, 62, is ramping up her retirement savings in 2025 with the new enhanced catch-up contribution of $11,250 for her 401(k). This means she can contribute a total of $34,750 this year! 🚀

This boost is a game-changer, helping Sarah significantly grow her nest egg and secure her financial future as she approaches retirement. 🌟

If you're in your early 60s, now is the time to take advantage of these opportunities!

📺 Watch the full video here: https://www.youtube.com/watch?v=3L4aa4RqcL8

12/31/2024

2025 brings game-changing updates to 401(k), IRA, and Roth IRA contribution limits thanks to the Secure Act 2.0. 🚀

💡 What You Need to Know:

- New 401(k) limit: $23,500 (+$7,500 catch-up for 50+)
- Special catch-up for ages 60-63: $11,250 = up to $34,750/year!
- Backdoor Roth IRA strategies still available for high-income earners.
- IRA limits unchanged ($7,000, or $8,000 with catch-up for 50+).

🎯 Don’t wait to ramp up your retirement savings! Start planning now to take full advantage of these opportunities and let compounding do the heavy lifting.

📺 Watch the full video here: https://www.youtube.com/watch?v=3L4aa4RqcL8

12/29/2024

Got $1 million+ saved in your 401(k)s and IRAs? 🏦 Let’s talk Roth conversions and why they could be a game-changer for your retirement strategy.

I know it might sound like financial mumbo jumbo, but stick with me—this could be the most important eight minutes you spend on your finances this week.

👉 Start with the basics and discover how this move could impact your taxes, income, and financial future.

💬 Want to know if this strategy is right for you? Let’s dive deeper into your unique retirement puzzle. Watch here: https://www.youtube.com/watch?v=uTmQbOEi5dE