3 Ways to Pay Less Tax in Retirement


There are many expenses that tend to be stressful for retirees. Healthcare is a big one, as it can eat away at a lot of income. The same holds true for housing. But one expense that really tends to catch seniors off-guard is none other than taxes.

It's a huge misconception that when it comes to paying taxes, retirees are largely off the hook. Not so. Seniors are required to pay taxes on traditional retirement plan withdrawals, pension income (most of the time), and earnings from part-time work, among other things.

If you're worried about paying taxes in retirement, there are several things you can do to lower that burden and shield more of your income from the IRS. Here are three to start with.

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