Taxes can be the largest wealth eroding factor in retiree’s portfolio. In retirement, you have one of the best opportunities to really control your tax situation. How you withdraw your income from your assets will dictate the amount of taxes you will owe. We believe it is important to have a strategy in place to minimize or eliminate taxes in retirement. That strategy needs to focus not only on the current year but the future years as well. Just simply having your taxes prepared is not enough.
Most Financial Advisors stress “Asset Allocation; though important, we believe “Tax Allocation” can have a greater impact on retiring well. How have you allocated your assets to get tax diversification?
What strategies has your Financial Advisor used to help you distribute your assets to minimize or eliminate taxes? Do you know what accounts you should spend from first? If you have not discussed any tax strategies by now, the chances are you probably will not ever.
For a complimentary tax analysis, fill out the information below and someone will contact you:
Tax Reduction Strategies
Understanding Your Retirement Reality
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Retirement Plan Checklist
Tax Planning 2016