Your Tax Bracket in Retirement
Retirement does not mean the end of taxes. But you have more control.
In retirement, you choose which accounts to draw from and when. That means you have more control over your taxable income than you did while working. Drawing from a mix of taxable, tax-deferred (traditional IRA/401k), and tax-free (Roth) accounts lets you manage your tax bracket year by year. The goal: stay in the lowest bracket possible while still meeting your income needs. A tax-efficient withdrawal plan can save thousands over a retirement.
From Grace
Tax planning in retirement is different from tax planning while working. You have more levers to pull. Let me help you understand them.