Retirees can face Federal Tax rates as high as 55% on each additional withdrawal from a retirement account. In this webinar, we will show you why taxes are different in retirement and how to avoid key pitfalls in how you harvest income from various accounts.
This werbinar discusses the following four key ideas:
• Key #1: You have to know what your “after-tax” retirement savings picture looks like BEFORE retiring: The types of accounts you hold and when you tap them can have a dramatic impact on your actual retirement savings.
• Key #2: Social Security and Medicare have their own "tax traps" and you need to plan for them, too.
• Key #3: The timing of when you tap various savings throughout the four different phases of your retirement life impacts your tax rate and must be managed.
• Key #4: You must have a “Retirement Tax Strategy” that manages your assets for an “optimal draw down” so you pay as few taxes as necessary.