How Proactive Tax Planning Can Rescue Your Retirement

Unless you plan ahead, your retirement savings could be a tax time bomb. Here are some strategies to help defuse it.

A bomb made out of $100 bills sits with its fuse burning.
(Image credit: Getty Images)

If I were to ask how much you’ve saved in your IRA, 401(k) or similar retirement plan, my guess is you could come pretty close to telling me your account’s current balance.

But what if I asked you how much you can expect to pay in taxes on that money throughout your retirement? You would likely have no idea.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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David Lukas, Investment Adviser Representative
Founder, CEO, David Lukas Financial

David Lukas is the founder and CEO of Arkansas-based David Lukas Financial ( He is also the host of “The David Lukas Show'' (, which was named in the Top 100 Financial Shows in the U.S., according to Nielsen Ratings. David is a National Social Security Advisor (NSSA ®) certificate holder.