Pay Now or Pay Later: Reducing Taxes Should Be a Retirement Priority
Do you have a plan to help reduce income taxes in retirement?
That’s become one of my top questions for the pre-retirees who attend my financial planning classes or come to my office for help.
If they have to think about it, it means they likely don’t have a plan. And, unfortunately, that could cost them a lot of money down the road.
Financial professionals have been putting more emphasis on tax-efficient planning in recent years because the amount of money being saved in IRAs, 401(k)s and other qualified benefit plans has become so excessive. When we evaluate where people — baby boomers, especially — are putting their savings, we find people are retiring with almost all their assets in tax-deferred accounts. And it’s becoming problematic.
That’s because too many savers are finding out in retirement that they have been misinformed.
Retiree News 
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