Robert Brokamp

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4,411 appearances 40 recordings 3 series first heard Oct 2025 last heard 19 Sep

Robert Brokamp’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 40 in all, peaking in Aug 2026 with 5.

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Motley Fool Hidden Gems Investing · In Retirement, More Spending Leads to Higher Taxes · 8 Aug 2026 podcast

However, once their spending goes above that level, additional withdrawals could result in higher taxes. matched

So just to give you an idea, at spending of $80,000 a year, their taxes would be more than $1,200. matched

If their spending were $100,000, that would drive up their tax bill to more than $5,000. matched

If their annual spending were $150,000, their taxes would be more than $11,000. matched

And if they're well off retired, matched

And they're spending $200,000 a year, their tax bill jumps to almost $23,000. matched

Unfortunately, it doesn't end there. matched

When April of 2027 rolls around, and our hypothetical couple has to pay that higher tax bill for 2026, how will they get the money? matched

By withdrawing more from their retirement accounts, which will increase their taxable income for 2027. matched

Then when April of 2028 rolls around, they'll have to withdraw more to pay that higher tax bill, which will increase their taxable income for 2028, and so on. matched

In other words, an expense today could affect their tax bills for years to come. matched

Now admittedly, this illustration is somewhat of a worst-case scenario, right? matched

The couple's tax bill would not increase if the additional spending were covered by qualified withdrawals from Roth accounts, which are tax-free. matched

This is one of the many reasons to bulk up your Roth assets before retirement. matched

Or the couple might cover their extra spending by selling assets held for longer than a year in a regular brokerage account, right? matched

Cost basis comes out tax-free, and the gains are taxed at lower long-term capital gains rates, which actually can be as low as 0% for taxpayers below certain income thresholds, at least up to a limit. matched

So additional spending by our hypothetical capital may not result in quite as much additional taxes. matched

On the other hand, this analysis completely ignores state and local income taxes. matched

The key here is that how you'll cover an expense in retirement will determine the tax consequences. matched

Now, when it comes to spending and taxes in retirement, there are two other considerations. matched

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