Robert Brokamp

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4,580 appearances 41 recordings 3 series first heard Oct 2025 last heard yesterday

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 — 41 in all, peaking in Sep 2026 with 5.

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

And older created by the one big beautiful bill. matched

However, as a married couple, it does begin to phase out at an adjusted gross income above $150,000. matched

And that figure is $75,000 for single filers. matched

And the rest of their income that they're going to need is going to be withdrawn from traditional retirement accounts, which will be taxed as ordinary income. matched

So using the 1040 calculator at DinkyTown.net, which is an excellent resource for all kinds of financial. matched

Financial calculators. matched

Here are this couple's estimated 2026 federal taxes based on different levels of annual income. matched

So, first off, if they keep their spending below $73,500 or so, their federal tax bill is zero. matched

That's thanks to a higher standard deduction and bonus that bonus senior deduction for the 65 and older crowd, the partially tax free nature of Social Security, and historically low tax rates in general. matched

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

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