Are You Paying Too Much Tax in Retirement?

Whether you are retired or preparing for retirement, you may find the topic of taxes confusing and difficult to navigate. On this segment of Better Money Boston, Joel Johnson, CFP® and Pam Cross discuss different strategies to help minimize your tax bill in retirement.

There Are Ways to Reduce Taxes You Pay

Stay on Top of Tax Changes

Congress makes tax changes every year, some years more than others. Staying up-to-date on this information is important and may require the help of a financial professional.

Where You Put Your Money Matters

You can use multiple tax buckets at the same time and move money easily from one bucket to another, with the exception of Bucket 4: Income Tax-Free to you and your estate.

There are four different places you can put your money where it can be taxed.

1.) Taxable Accounts

2.) Tax-Deferred Accounts

3.) Income Tax-Free to you but not your estate

4.) Income Tax-Free to you and your estate

Information presented in our podcasts is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.

Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.

Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.

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