When you retire, the more of your money you can hold onto, the better.
Seniors have many expenses. They’re typically the group that spends the most on healthcare, and they also engage in some well-deserved personal spending like travel or family activities.
But some costs like taxes can eat away at the money you’ve worked hard to accumulate. Luckily there are strategies you can use to protect what’s yours. When you contribute to a Roth IRA or 401(k), you get tax-free withdrawals.
These don’t count toward your provisional income, which can also lower your tax burden on other income including Social Security!
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