When you retire and stop getting a regular paycheck, every dollar counts. That’s why many retirees are looking for tax efficient retirement strategies to stretch their savings as far as they can go. Timing is key; when and how you choose to withdraw from retirement accounts like 401(k)s and Roth accounts will impact your taxes in a variety of ways. The tax rate on 401(k) withdrawals depends on a number of factors, including your age when you decide to start taking them out.
The knowledgeable agents at Absolute Retirement Solutions in Overland Park, KS offer assistance with choosing tax efficient retirement withdrawal strategies. We’ll learn all we can about your unique financial situation as well as your needs and goals for retirement. Your best course of action will depend largely on how you plan to spend your money. We offer the guidance you need to choose personalized tax income strategies that use insurance products to help manage your taxes in retirement; call today in order to schedule a private consultation.
Most retirees have multiple sources of income. Retirement accounts, Social Security, investments, savings, annuities, rental properties, part-time jobs, and more can work together to fund retirement. However, each source has to be monitored carefully in order to minimize taxes.
With direction from our engaged and experienced agents, you can learn strategies designed to give less of your retirement savings up to the government. That means more to spend or pass down to your beneficiaries. Give us a call today.