Some of the most common retirement questions involve what to do with Social Security or Medicare. Yet, one of the most important questions you should ask is, How will I be taxed in retirement?
That’s because, according to the Financial Industry Regulatory Authority, “income taxes can be your single largest expense in retirement.” And it’s a ticking time bomb, right up to when you turn 72. That’s when you’ll be required by the IRS to take distributions from your IRAs. If not carefully planned, those distributions can kick you into a higher tax bracket, potentially costing you thousands, if not hundreds of thousands, in unexpected ways.
In this video, Great Waters Financial Lead Advisor, Nick Foulks, takes you through what you need to know about Roth IRAs and Roth conversions with action steps you can take today to avoid unnecessary taxes in retirement.
In this on-demand video, you will learn:
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