**Readers Favorite Award Winner** (paperback version 2022)
You may have spent years saving for retirement—but have you thought of the best way to use the money you saved? How you withdraw from your IRA, 401(k), and other accounts can have a major impact on how much you will pay in federal income taxes during retirement. Topics covered by this award-winning book include:
—Conventional wisdom—waiting to use “tax deferred” 401k and IRA accounts until Required Minimum Distributions begin at age 72– can lead to paying more taxes than you need to.
—One simple change to your retirement withdrawal strategy can save thousands of dollars in federal income taxes over your retirement years.
—You can implement the change without new investments, purchases or fees—just use your existing accounts.
—Evaluate whether you can save in taxes by using an online Retirement Tax Saver tool.
—Use the Retirement Tax Saver tool to pick your winning withdrawal strategy and estimate how much you could save over the course of your retirement years.
—If you are at least 59 1/2 years old, you can and should implement a withdrawal strategy now to take full advantage of the strategy before 2026 when the current tax cuts expire.
—Design a strategy that takes into account your tax deferred and other assets, your Social Security benefits, and other sources of income. (Yes, Social Security can be subject to federal and even state income taxes!)
—The impact of Social Security on your withdrawal strategy
". . . a clearly written and comprehensive guide to tax savings for retirees or those approaching retirement. . . . could possible save certain retirees thousands of dollars." Kent Lane for Indie Reader (paperback)
Recommended by Kirkus: "By approaching retirement finance from a new angle, the author offers insights to those who . . . are now ready to maximize their benefits. . . . . An unusual approach to retirement finance that delivers worthwhile ideas.. Our Verdict: GET IT." (paperback)
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