When you’re retired, you can relax and step away from the workforce. However, you still have to deal with the matter of taxes.
Social Security taxes can impact a retiree’s benefits, and affect how much money they have to spend on their own needs. But luckily, there are some ways you can reduce or avoid these costs.
For state taxes, you should know that only certain states tax benefits. If you live in one that doesn’t, or would consider moving there, you could save considerable money.
As for federal taxes, a strategy discussed here can help you avoid them via a Roth account.
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