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Subject: Impact of taxation of Social Security benefits for each dollar withdrawn from an IRA or other tax deferred retirement plan that exceeds the top Social Security tax threshold.

Uses: Most clients only have two sources of income at retirement, Social Security and withdrawals from a tax-deferred retirement plan. This can lead to extremely high taxation, often referred to as the Social Security tax torpedo. This slide can be used to start a discussion as to the advantages of being better tax diversified by having a portion of future retirement income come from a Roth IRA, life insurance cash value loans, reverse mortgages or some other source that does not impact Social Security benefit taxation.

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