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Will Your Taxes Be Lower in Retirement?- Season 6: Episode 7

It would seem to make some sense that once you begin retirement retirement, your tax bill will tend to increase – at least in the early years.  The logic is that people normally have much, if not most, of their retirement funds in a company retirement plan (401k, 403b, etc.), which are all taxable upon withdrawal at ordinary income rates.

But is this really the case?  Should retirees simply resign themselves to giving up a big chunk of their retirement savings to Uncle Sam? In this week’s episode of Managing Your Financial Future, podcast host Johnny Dean and our “Professor” Rick Plum, CFP® talk about why you may actually owe less in taxes than you thought you would when you retire.​​​​​​

Important Information:

The information provided should not be considered specific tax, legal, or investment advice and is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal. This material was gathered from sources believed to be reliable, however, its accuracy cannot be guaranteed.

No client or prospective client should assume that the presentation (or any component thereof) serves as the receipt of, or a substitute for, personalized advice from Lucia Capital Group or from any other investment professional.

Rick Plum is a registered representative with, and securities and advisory services offered through LPL Financial, a registered investment advisor and member FINRA/SIPC. The investment professionals are affiliated with LPL Financial and are conducting business using the name Lucia Capital Group, a separate entity from LPL Financial.

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