3 tax traps that could wipe out your retirement savings
Like most people, you may think you'll be paying fewer taxes in retirement. That's understandable because you're no longer earning a paycheck. But unfortunately, that won't be the case for most hard-working Americans. You could be paying even more taxes in retirement if you're not careful. The good news is you have more control over how much you pay in taxes in retirement than at any other time of your life. The following are three tax traps that could wipe out your nest egg. Tax Trap #1: higher taxes could be just around the corner Most people don't realize it. But taxes are lower today than...
Source: ksl.com