6 Ways to Curb Taxes in Retirement
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.
A lot of things change in retirement, and your taxes are one of them. But they don't have to be so painful. As part of Morningstar's Tax Relief Week, I outlined six tips to help reduce tax bills in retirement.
Tip 1: Diversify Your Assets by Tax Treatment
The first tip has to do with something you should start before retirement that can be a big help in retirement--building tax diversification in your portfolio.