Linda Jensen, Principal and Owner of Heart Financial Group, Interviewed on the Influential Entrepreneurs Podcast, Discussing How Taxes Impact Retirement

Linda Jensen discusses how taxes impact retirement. 

Listen to the interview on the Business Innovators Radio Network:

The truth is there are two givens in life:  death and taxes.  Taxes are at an 80-year low.  The highest rate in the US was 94% after World War II.  In the 70’s the top rate was 70%.  The national debt is more than 32 Trillion.  It has grown more than 2.5 Trillion in the past 17 months.  We can’t fathom a number as big as one trillion.  If someone took one trillion in one-dollar bills, it would take more than 44,000 25-ton semis to carry the load.  There are only two ways to fix this:  Congress needs to lower spending or it will become necessary to increase taxes.  I think that taxes will have to increase.  That is why taxes are a primary focus of our practice.  We help individuals and business owners mitigate taxes.  There are ordinary income taxes.  When retired and on Medicare, there are IRMA penalties for high-income earners.  There are capital gains taxes on the sale of a business or real estate.  Then there’s death taxes.  People are taxed their entire life and when they pass away, their estate can be subject to estate taxes.  Social Security has been taxed since the mid-1980s.  For those who have a lot of pre-tax dollars in IRA accounts, the required amounts that must be taken out of those accounts can be quite a surprise.  All of these taxes are best navigated by planning.  That’s exactly what we do. 

Taxes are an essential factor to consider when planning for retirement. There are several different types of taxes that people may be liable for during their retirement years, including federal income tax, state income tax, capital gains tax, and property tax. Their liability for these taxes can change depending on several factors such as their age, income level, retirement accounts (e.g., 401(k), IRA), and source of income (e.g., Social Security).

Linda explained: “It is important to recognize the potential impact taxes may have on your retirement savings and to take steps to minimize this impact if possible. Strategies for minimizing the effects of taxes on retirement include Roth IRA conversions or making charitable donations which can generate deductions from taxable income. Additionally, taking advantage of tax credits and deductions can help to reduce your overall tax burden.”

To ensure that people are making the most of their retirement funds and not inadvertently incurring additional taxes, it is essential to consult a qualified financial advisor who can provide advice tailored to their situation. Working together, they can develop the most efficient tax strategies for achieving retirement goals.

With the proper guidance, taxes need not be a major obstacle to an individual’s retirement success.

Linda added: “People should not hesitate to contact a financial advisor for further information or advice on understanding and mitigating the impact of taxes on their retirement funds. Financial Advisors are here to help them make the most of their nest egg so they can confidently retire.” 



About Linda Jensen

Linda has been self-employed for her entire life. A successful financial advisor since 1994, she has enjoyed all aspects of entrepreneurship, especially problem-solving, sizing up dilemmas, and working through complexities with creative solutions. She is a lifelong learner. In addition, she has a passion for establishing a good rapport with business owners and clients helping them access a wide range of resources. “Business owners are in a lonely place,” says Linda. “I want to develop a relationship with the business owner, offer counseling and serve as a referral service.”  Linda began her career in 1994 with Prudential Preferred Financial Services; for three years Linda was an agency leader in Tacoma, Washington. 

Since starting her firm in 1997, Linda has enjoyed working with individuals and business owners helping them achieve their financial dreams and goals. She is an expert in all aspects of retirement planning. 

Linda has lectured widely on financial topics to both the general public and business professionals. She is passionate about helping business owners leverage corporate cash to create benefits for the owner(s), and key employee(s) and to identify estate-planning solutions. 

Linda calls the Pacific Northwest home. She married her college sweetheart. She and her husband Brad have two children and five grandchildren. Linda loves learning, reading, hiking, sewing, and cooking.

Learn More:


Recent news and interviews:



Business Innovators Magazine - News Syndication