Some Tax Considerations For Your Retirement Income

April 11, 2015 5:35 PM

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Even if you don't plan to retire for years, it's still a good idea to think ahead about where you decide to live, the source of your income and how it all interacts with Social Security and Medicare. Here's why: Getting a better feel now for the way you could get taxed later can help you find ways to help minimize the future impact. It might also spur you on to making bigger contributions to your IRA while you're working - and help you close the gap between the nest egg you've saved so far and the retirement income you want to generate down the road.

Where you live in retirement could have a big impact on your bottom line. When you retire, it's likely that your main source of income will be your retirement accounts. So finding ways to minimize your taxes is like giving yourself an instant raise. One easy way to do so: Consider your address caref...

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