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How the 2018 Tax May Affect Soon-to-be Retirees

Peter Pigeon
Mike Switzer/SC Public Radio

The 2018 tax reform brought the most changes to the federal income tax code in over 30 years. And your first real experience with these changes will probably be when you file your upcoming tax return. In general, most tax-payers will pay less tax in 2018 compared to prior years, but our next guest says this law has also created some new retirement planning choices, especially for those planning to retire during the next five years.

Mike Switzer interviews Peter Pigeon, a certified financial planner with the Hobbs Group Advisors in Columbia, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.