Why Taxes Could Be Higher in Retirement: A Comprehensive Look By Carl Fischer Retirement is often seen as a time to relax and enjoy the fruits of one’s labor. However, many retirees are surprised to discover that their tax burden doesn’t necessarily decrease in their golden years. Several factors can contribute to higher taxes in retirement, including changes in Required Minimum Distributions (RMDs), the widower tax, lump sum distributions, tax code modifications, Social Security, legacy planning considerations, and the impending tax changes set to sunset in 2026. Additionally, savvy retirement planning can harness the benefits of Roth IRAs and 401(k)s…
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