Tax Season 2025: A Cheat Sheet for Retirees and Retirement Accounts

2025年税务季节:退休人员和退休账户速查手册

WSJ Your Money Briefing

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2025-03-04

9 分钟
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To encourage Americans to save for retirement, Congress has set up tax-favored accounts. While these accounts offer plenty of benefits, there are some pitfalls when it comes to how and when you contribute to them, or take money out. Wall Street Journal reporter Laura Saunders joins host Ariana Aspuru to discuss what you need to know about IRAs, 401(k)s, contribution limits and penalties. To hear WSJ’s cheat sheet for tax information related to homeowners listen here. For issues related to investing, listen here. And our series on Tax Season 2025, can be found here. Sign up for the WSJ's free Markets A.M. newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices
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  • This episode is sponsored by Northern Trust Wealth Management.

  • There is more to being a successful entrepreneur than just good business practices.

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  • What are entrepreneurs doing to cultivate this spirit in their own children and build a legacy beyond their business?

  • Tune in each month to the Road to Why podcast by the Northern Trust Institute,

  • where host Eric Shapaea dives deeper with leading entrepreneurs on these topics and more.

  • Find the Road to Why where you listen to your favorite podcasts.

  • Here's your money briefing for Tuesday, March 4th.

  • I'm Mariana Asburu for the Wall Street Journal.

  • Congress has set up a variety of tax-friendly accounts to encourage saving for retirement.

  • While they offer plenty of benefits, it's important to be aware of the potential pitfalls.

  • If the money comes out of a traditional account, you will owe tax on it in general.

  • Also, if you're under $59.5, you probably will owe a 10% penalty,

  • but not always, so it's important to check on that and strategize.

  • We'll talk to Wall Street Journal reporter Laura Saunders about her latest guide to taxes for retirees or retirement account holders after the break.

  • This episode is sponsored by Northern Trust Wealth Management.

  • There is more to being a successful entrepreneur than just good business practices.

  • What is it about an entrepreneur's childhood that helped fuel their entrepreneurial spirit?

  • What are entrepreneurs doing to cultivate this spirit in their own children and build a legacy beyond their business?

  • Tune in each month to the Road to Why podcast by the Northern Trust Institute where host Eric Shopeia dives deeper with leading entrepreneurs on these topics and more.