Roth Moves, RMDs and Holiday
Deadlines Made Simple

As the year comes to a close, financial decisions tend to stack up fast. Deadlines matter, taxes shift, and opportunities vanish when the calendar flips. In this episode of The Own Your Retirement Show, Josh Bretl and Mark Elliott break down the practical steps retirees and near retirees should take before December 31.

They also pause to explore the personal side of retirement, including how lifestyle, spending, and health naturally evolve throughout the go go, slow go, and no go phases of life.

Understanding Your End of Year Deadlines

Roth conversions and required minimum distributions both come with a hard December 31 deadline. Roth contributions work differently because those can be completed up until April 15. Josh outlines why it is important not to wait until the final week of the year. Even when a financial company tries to move quickly, processing takes time. Starting early ensures accuracy, avoids penalties, and keeps your tax plan under your control rather than rushed by the calendar.

Instead of thinking about these tasks as one time chores, Josh encourages listeners to view them as annual maintenance. Tax brackets shift, income changes, and your overall financial picture moves with you. Reviewing everything once a year is the best way to stay ahead of surprises.

Why a Mock Tax Return Can Change Everything

One of the most helpful tools Josh uses with clients is a mock tax return. It is a simple way to preview your tax situation before the official filing season arrives. By entering wages, dividends, interest, capital gains, Social Security income, and RMDs, you can see your approximate tax bracket and identify opportunities to either add income or reduce it before the end of the year.

For example, some retirees may be sitting in the 0 percent capital gains bracket without realizing it. Others may benefit from moving a portion of their IRA into a Roth while they are still in a lower bracket. Some may choose to accelerate charitable gifts during a high income year to maximize the tax benefit. A mock return makes these decisions clearer, more confident, and more strategic.

Smart Opportunities That Often Go Unused

The episode highlights several year end planning moves that can make a meaningful long term difference when used intentionally. A few examples include:

• Recognizing capital gains during a low income year to capture the 0 percent rate.
• Converting part of an IRA to a Roth to avoid higher tax brackets in the future.
• Completing RMDs early enough to avoid penalties and stress near year end.
• Bundling charitable contributions when income is unusually high.

Each of these strategies depends on timing, tax awareness, and the ability to look ahead instead of guessing. The earlier you evaluate your income for the year, the more tools you have available.

The Emotional Side of Retirement Planning

Beyond tax planning, Josh and Mark move into the personal transitions retirees experience. Retirement spending is rarely a straight line. It changes shape over time as priorities shift. In the go go years, travel, hobbies, and big experiences often take center stage. Later on, the slow go years bring a calmer pace.

People may still enjoy outings, family time, and comfort at home, but their spending often shifts toward convenience and healthcare. Eventually the no go years arrive, where medical costs and daily support become the focus instead of travel or recreation.

Josh reminds listeners that none of these stages are good or bad. They are simply natural progressions. The key is planning far enough ahead so that each transition feels manageable rather than overwhelming.