Death and taxes. The old saying goes that they’re the only two certainties in life. Both will play a large role in your retirement planning. While you may not be able to control or predict when you will pass away, you can certainly implement a strategy to manage your taxes and reduce your exposure.
Many retirees fail to incorporate taxes into their budget or income strategy. They may feel that because they are no longer earning income, taxes are no longer an issue. Or they may simply assume that much of their income isn’t taxable.