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Minimize tax concerns, maximize client relationships

Are your clients feeling anxious about taxes in retirement? You can provide tax-savvy strategies—and help them feel more confident during this time of transition.

For many clients, retirement may be the first time they write a check to pay taxes. This moment may arrive just when they're feeling unsure already, as they begin to draw income from their savings.

Fortunately, you can play a major role in proactively addressing clients' concerns about taxes, to positively impact their tax outcomes—and strengthen your relationship.

Try asking clients these tax questions to help take them from anxiety to opportunity.

1. How will market ups and downs affect your tax bill this year? What about in the future?

Many of your clients may be enjoying the benefits of a bull market, but they may not enjoy the impact of capital gains on their tax bills. On top of paying higher taxes on gains from investments, they might not be able to harvest tax losses as in years past.

Your action step: Explain the value of tax-efficiency to their retirement income plan using this guide, "You're deferring taxes, now what?"

2. Would you like to do more to grow your income tax-efficiently?

No one likes to think about losing a portion of their gains to taxes. Be the bearer of good news by reminding tax-sensitive clients about the power of annuities to allow investments to grow tax-deferred. You also can remind clients who may have maxed out their other retirement accounts that annuity solutions don’t have contribution limitations.

Your action step: Show tax-sensitive clients how tax-deferral might work within their portfolio with this guide, "Lincoln Investor Advantage®: Protecting wealth through tax-efficient investing."

3. What would more predictability look like...for your taxes?

Some of your clients are looking to you for a retirement income strategy that provides greater predictability. Have you discussed adding tax-efficiency into this strategy to help these more conservative clients make the most of their income in retirement? 

Your action step: Start the conversation about the role of tax-efficiency within a predictable retirement income plan with our client guide, "Tax efficient income you can count on."

Partner with us

Helping your clients understand ways to better manage their taxes in retirement is a conversation worth having today. Contact your Lincoln representative today at 877-533-0265 to learn how you can help add more certainty into your clients' retirement income plans and build deeper relationships. For additional tips and insights, make sure you follow us on LinkedIn and Twitter .

Lincoln Financial Group® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent advisor as to any tax, accounting, or legal statements made herein.

Annuities are long-term investment products designed for retirement.

About the author

Chris Price

For more than 22 years, Christopher H. Price, JD, LLM, CLU®, ChFC®, AVP, Advanced Sales, Lincoln Financial Distributors, has helped advisors and their clients accumulate, distribute and transfer annuity assets by using a holistic approach. In 1983, he began his career as a trust officer with Sovran Bank (now Bank of America). Chris moved into financial planning, and followed that by managing an insurance agency that served some of the wealthiest families in the country. In 1994, Chris joined Delaware Investments, formerly a member of Lincoln Financial Group, where he was responsible for the product management of Delaware mutual funds and eventually Lincoln variable annuities. From 2000 to 2004, Chris used his expertise to help financial advisors and their clients with advanced case issues. In 2005, he transitioned to the Lincoln Advanced Sales team. Chris holds a BA in history from Vassar College, and law and master’s degrees from the Marshall-Wythe School of Law at the College of William & Mary.


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