Flight #92: Tax Strategies, Future Savings, and Retirement Efficiency

Curious about strategies pilots can use to maximize tax efficiency? In this episode, we’re tackling hard-hitting tax numbers, future-focused savings strategies, and essential tax changes on the horizon, especially for those over 60. You’ll learn the ins and outs of tax deductions, even on W-2 income, and tips for maximizing tax-efficient retirement income. We’ll also cover the benefits of backdoor Roth contributions, health savings accounts (HSAs), and charitable donations to reduce taxable income.

Whether you’re aiming for tax-smart retirement income or looking to optimize current savings, this episode is packed with practical advice. Join us as we explore how to prepare for a financially secure retirement and why giving back can also lead to valuable tax deductions.

What You’ll Learn In Today’s Episode:

• Tax-saving strategies for pilots.
• Key deductions for W-2 income.
• Tips for tax-efficient retirement income.
• Upcoming tax changes for individuals over 60.
• Pros and cons of backdoor Roth contributions.
• Charitable donations for tax savings.
• Benefits of health savings accounts (HSAs).
• Creating a future-focused tax plan.
• How giving back can benefit your finances.
• Roth strategies for long-term tax relief.

Ideas Worth Sharing:

• “We’re not fans of Roth at any cost but we are fans of Roth to help with that future tax efficient income at retirement.” – Charlie Mattingly
• “The only way your money is going to make you happy is if you give it away.” – Charlie Mattingly
• “You can’t make decisions based off of taxes first.” – Charlie Mattingly

Resources In Today’s Episode:

• Charlie Mattingly: LinkedIn 
• Andy Christopher: LinkedIn
• The Heart of an Organization
• Flight #76: To Roth or Not to Roth?
• The Pilot Wealth Index

Share The Love:

If you like The Pilot Money Guys podcast …

Never miss an episode by subscribing via Apple Podcasts, Spotify, or by RSS!