If you have a pension coming to you when you retire, it could affect your taxes in the future. The biggest problem would be that you put a lot of your retirement money into tax-deferred accounts. As a result, it means that you will have to pay taxes on that money when you withdraw it,…
Your Pension Could Become a Retirement Tax Bomb
May 9, 2023
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Will You Face a Tax Bomb in Retirement?
Good savers, beware. The money you’re stuffing into your 401(k) and other retirement accounts has to be withdrawn someday. If you’re not strategic about how you save, you could face unnecessarily high tax bills and inflated Medicare premiums in retirement—plus, you could be saddling your heirs with higher taxes. The earlier you start defusing this…
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