People are often surprised to discover that taxes are one of their biggest expenses in retirement. For many, the assumption is that once they retire and their paychecks stop coming, taxes would go down. While this may seem logical, it’s not the case for many people. What is often not considered is that those paychecks are replaced with income from Social Security that is up to 85% taxable and withdrawals from IRAs, 401ks and other tax deferred retirement plans that are 100% taxable. For these and other reasons many retirees find their taxes don’t go down and in some cases are actually higher after they stop working.
The easiest and quickest way to learn how to be more tax wise in retirement is to enroll in this free Master in Minutes video course.
Watch one video a day, for the next five days to have the knowledge and confidence to make decisions that are the best for you!