You could owe taxes on income you never spent or even saw. John Scallan explains phantom income, including how mutual fund distributions, interest, and required minimum distributions can affect taxes, Social Security, and Medicare premiums. He also discusses modern annuities, retirement income, sequence-of-returns risk, and the small planning decisions that can redirect a financial future over time. The episode highlights why income events should be mapped before year-end, while adjustments may still be available.

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