You might not know it, but one of the largest expenses you potentially face when you retire is paying large sums of taxes. You have worked hard in your career and put the time and money into saving for your retirement, so you should have the right strategies in place before you retire to minimize your tax liabilities and maximize your retirement.
Effective tax planning is about knowing your current numbers and looking 20 years down the road. Do you want to defer by paying taxes on your retirement savings? Do you want to pay as you go to avoid paying anything in the future? We can help guide you so that your tax plan
Saving for retirement can be stressful, but there are a few options available to you, and each has its own pros and cons when it comes to taxes.
Traditional IRAs, Roth IRAs, and Roth 401(k)s are all options at your disposal that allow you to accumulate savings for retirement in various ways with different tax implications.