The goal of retirement saving is to ensure you are able to afford your retirement and do the things you have always dreamed of doing, without having to worry about money. But many retirement savers overlook or underestimate an important retirement cost: taxes on distributions from their retirement accounts.
Understanding how withdrawals from your retirement accounts will be taxed can give you a clearer idea of what your retirement income will look like. This article from Kiplinger reviews the taxes associated with the 10 most common types of retirement accounts.
This communication is for informational purposes only. No content or reference to a third-party article is intended to be a recommendation for the sale or investment in any product, strategy or service nor should it be perceived as individual advice. This commentary does not necessarily reflect the opinions of all employees or XML Financial Group and its affiliates (“XML”). XML is not responsible for any actions taken related to this information.