If you’re currently preparing for retirement, you’ve likely considered a host of different possible challenges, including market volatility, inflation and health care costs. However, there’s one issue that may present a bigger challenge than you expect. It’s taxes.
You may assume that taxes won’t be an issue after you stop working. After all, you’ll no longer be earning income. However, that assumption would be incorrect. The truth is that you could face tax liability on a wide range of income sources, including qualified plan distributions, investment income and even Social Security. |
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