Investors who build tax diversification, get savvy with RMDs, mind state taxes, and avoid the 'tax torpedo' can lighten their tax loads considerably in retirement, says Morningstar's Christine Benz.
Inefficient contributions and withdrawals and poorly timed asset purchases are among the many common tax-related blunders, but Morningstar's Christine Benz offers solutions to avoid such pitfalls.
Your 2013 tax return can teach you valuable lessons on asset location, the Medicare surtax, HSAs, deductions, and more.
Parents can help their college-age children monitor spending habits, avoid identity theft, and learn from their money mistakes.
Rules of thumb may be too high for affluent retirees with high savings rates, but health-care costs a major swing factor.
©2014 Morningstar Advisor. All right reserved.