Hitting a million dollars doesn’t always mean what it looks like on paper. In this episode of The Retirement Referee, Brooks breaks down the idea of the “paper millionaire” and why selling a home, business, or tapping a large 401(k) can trigger unexpected tax consequences. The conversation covers one-time windfalls, installment sales, Roth conversions, and how timing can affect tax brackets, Medicare premiums, and Social Security taxation. It’s a practical discussion on why large gains can create ripple effects—and why thinking about taxes before a sale matters.

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