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Retirement savers: Remember the taxes
Two things happened recently that made me think about taxes and retirement saving. First, my husband and I prepared our taxes and for the first time had to take money out of a tax-deferred plan and pay taxes on those withdrawals. Since I think about pensions all day long, it should probably not have come as a surprise that after decades of deferring tax payments the day would finally come when taxes were due. But it was a surprise. And I realized then when the Center for Retirement Research reports figures of how much people have in retirement saving, we never mention that these sums are pre-tax amounts…Read More
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