Sun, March 23, 2025
Sat, March 22, 2025
Fri, March 21, 2025

Kick the IRS to the Curb in Retirement

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. 3/22/kick-the-irs-to-the-curb-in-retirement.html
  Print publication without navigation Published in Business and Finance on by Kiplinger
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
That 401(k) or traditional IRA you've filled with your hard-earned money could turn into a tax bomb. Before it blows, see if a Roth could help rescue you.
The article "Kick the IRS to the Curb in Retirement" from Kiplinger discusses strategies for minimizing tax liabilities in retirement. It highlights the benefits of moving to states with no income tax or low taxes on retirement income, such as Florida, Nevada, or Wyoming. The piece also explores the advantages of investing in tax-efficient vehicles like Roth IRAs, where qualified withdrawals in retirement are tax-free. Additionally, it suggests considering municipal bonds, which offer tax-exempt interest, and health savings accounts (HSAs) for tax-free medical expense withdrawals. The article emphasizes the importance of planning ahead, understanding state tax laws, and possibly consulting with a financial advisor to tailor a retirement plan that reduces tax burdens, thereby allowing retirees to keep more of their hard-earned money.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/retirement/kick-the-irs-to-the-curb-in-retirement ]