3 Effortless Ways to Minimize Your Retirement Tax Bill
Retirement Tax Optimization: 3 Simple Strategies to Maximize Savings
These simple moves could leave you paying the IRS a lot less. Taxes are a part of life throughout your life. And they unfortunately do not go away in retirement -- though wouldn't it be nice if that were the case?
Worse yet, taxes have the potential to be even more stressful later in life once you're on a fixed income. That's why it pays to do what you can to minimize your retirement tax bill. And that could boil down to choosing the right accounts and the right investments. Here are three specific moves that could leave you paying the IRS might less money once your career has come to an end:
- Save in a Roth IRA
- Fund an HSA
- Invest in municipal bonds
With these key moves, you can set yourself up to worry less about taxes as a retiree -- and keep more of your money for yourself.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.