Is Your IRA an IOU to the IRS? Three Retirement Tax Strategies

These steps, including converting to Roth IRAs, using a Roth 401(k) and leveraging life insurance and annuities, can help reduce your taxes in retirement.

The acronym IOU is taped over the front of a hundred-dollar bill.
(Image credit: Getty Images)

Chances are your retirement nest egg is worth less than you think.

For example, if you and your spouse have $1 million in retirement savings tucked away in traditional IRAs, 401(k)s or 403(b)s, your nest egg is likely to be worth $760,000 at the 24% marginal federal tax bracket.

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William Decker, Investment Advisor Representative
Owner & Financial Advisor, Navigating The Retirement Red Zone

As the Lead Advisor at Navigating The Retirement Red Zone, I bring over 12 years of expertise to guide individuals in understanding and navigating strategies for a secure and confident retirement. I possess the necessary credentials and competencies to offer independent and fiduciary advice, focusing on your unique values and goals rather than promoting internal or incentivized products. My primary mission is to assist you in crafting distribution and tax strategies tailored to your retirement savings and investments. These strategies are designed to ensure the maintenance of your desired lifestyle and goals while safeguarding against the risk of outliving your assets.