Latest News
Income Taxes: The Often Overlooked Retirement Planning Piece
The Motley Fool’s Christy Bieber, in a post today on statesville.com’s Business page, covers the results of a recent Nationwide Financial survey and the conclusion that 41% of current retirees lament their overlooking the size of the bite that taxes can take out of their retirement assets. Whether it’s the taxation of IRA or 401K withdrawals or the simple impact of Social Security benefits being included in taxable income, preparing for the level of expected income to be reduced is critical to knowing the amount of spendable income is a critical, but frequently missed, element of financial planning for retirement. Ms. Bieber’s post puts the survey results in context, including some thoughts on options available to dealing with taxes. Read her post here…