Don’t Make These 3 Social Security Claiming Mistakes in Retirement

Did you know the government has a legal way to tax the same dollar twice? This happens to thousands of people every year through something most have never heard of called "provisional income." You may assume Social Security is tax-free, but for most CRNAs with decent retirement savings, up to 85% of your benefits will become taxable.

In this episode, we're showing you how to avoid this "Social Security tax tsunami," including the three biggest mistakes CRNAs make and how you can protect your retirement income.

Brett explores:

• How "provisional income" triggers Social Security taxation with outdated thresholds from 1984.
• The three pitfalls: claiming early, ignoring Medicare premiums, and not planning for RMDs.
• A strategic solution using tax planning, asset location, and Social Security timing.
• A real-world example comparing two CRNA couples to show how smart planning can save you over $180,000 in taxes.
• Why Social Security tax planning isn't just for retirement—it needs to start years before.

By the end of this episode, we hope you’ll be more prepared to handle the complexities of Social Security and retirement planning

#CRNAs #SocialSecurity #RetirementPlanning #TaxStrategy #FinancialFreedom

Key Timestamps:

(0:51) The government's legal way to tax the same dollar twice

(2:40) Social Security taxation explained

(3:44) How "provisional income" works

(5:10) A real-world example with Mike and Sarah

(6:15) Mistake #1: Claiming Social Security early

(7:25) Mistake #2: Ignoring the Medicare premium penalty (IRMAA)

(8:37) Mistake #3: Not planning for RMDs

(9:45) The solution: Strategic tax planning

(11:05) A real-world example of two couples

(12:08) Why Social Security planning starts years before retirement

(13:00) The biggest mistake of all

For more information and resources related to this episode, please visit the show notes.