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In the world of retirement planning, taxes can be a significant expense that are often overlooked.
In this informative episode, CERTIFIED FINANCIAL PLANNER™ practitioner Michelle Gessner shares her insights, and dispels common myths about taxes and retirement.
She highlights the prevalence of pre-tax money in retirement accounts and the mandatory Required Minimum Distributions (RMDs) from IRAs and 401ks – and potential solutions – so you can reduce tax rate risk.
Michelle discusses:
- Why taxes are one of the biggest expenses for retirees
- How pre-tax retirement money is fully taxable
- The benefits of Roth 401Ks/403Bs for retirees
- What you can do now to potentially reduce your taxes in retirement
- And more
Related: Advisors, Pay Attention to These Retirement Disruptors