Your money: Create a tax-smart retirement savings strategy

April 5, 2015 5:08 AM

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"Most people are programmed to throw all their savings in a 401(k), but they don't think about having to pay the piper on the back end," said Anthony Truino, an adviser with Barnum Financial Group, an office of MetLife. "When they are getting closer to retirement, they need to evaluate their company match, cash flow, what they already have in various accounts, and build from there."

Ideally, clients would arrive at retirement with a significant pool of assets not subject to ordinary income tax, said Michael Goodman, founder and president of Wealthstream Advisors.

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