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Watch out for income taxes after retirement
Although many people only worry about income taxes once a year when they need to file, a wiser person will be conscious all year about the tax implications of any financial moves they make. Especially in retirement when RMD’s (required minimum distributions) add to your taxable income, as do any other withdrawals you make from a tax deferred account such as your IRA or 401(k), it’s just plain smart to manage your finances in a way that keeps more in your own pocket, instead of giving it to the IRS. This article by investment advisor Chad Ensign appears at Kiplinger.com and offers 5 ways to help control your income taxes in retirement. Click here to read more.