Three Ways to Lower Your Taxes in Retirement

To help prevent taxes from blindsiding you in retirement, consider addressing tax issues now, when rates are lower. Here are three suggestions.

A retiree looks thoughtful as he stands outside.
(Image credit: Getty Images)

People often go into retirement thinking their biggest expense at that stage of life will be health care.

But they (and you) may be surprised to learn that, in many cases, the actual biggest expense is something quite different — income taxes. Those who aren’t prepared for the role the IRS will play in their retirement are at risk of taking a big hit — a hit that could have been prevented.

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J. Barry Watts
Founder, WealthCare Corporation

J. Barry Watts, founder of WealthCare Corporation, is a tax strategist and represents clients before the IRS. The work Watts and his firm do for clients centers around six building blocks — guaranteed income, tax elimination or minimization, principal protection through risk-minimized investing, planning for retirement healthcare, business owner exit planning and legacy planning.