KHKyle Hammerschmidt

1. Article · Aug 22, 2026 · Kyle Hammerschmidt, Investment Adviser

   How to Build ‘Tax-Invisible’ Retirement Income (and Why You Need to Start Before You Retire) (opens the original)

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   If you have millions saved in your 401(k) and IRA, that feels like a win, and it is. But there's one way a large balance quietly works against you: The more money sitting in tax-deferred accounts, the more likely the IRS is to tax the maximum allowable portion of your Social Security check. That happens by default, unless you plan around it. Most people who reach this point spent decades doing everything right: Saving consistently, maxing out their 401(k), following the advice they were given. T

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2. Article · Jul 11, 2026 · Kyle Hammerschmidt, Investment Adviser

   The Widow's Penalty: Why Could Your Death Double Your Spouse's Tax Bill? (opens the original)

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   Jim and Pam are a hypothetical couple I use with clients to illustrate what the numbers in a retirement plan can look like. They're both 62, have $2.5 million in pretax retirement accounts and $54,000 a year in combined Social Security benefits when they retire. On paper, they've done everything right. But when Jim dies at 75, Pam's financial picture changes in ways they never planned for. Her Social Security does not disappear entirely. The higher of the two checks continues, but one check is g

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