Let’s face it: you want to keep as much of your money as possible in retirement.

That’s a simple, indisputable, common-sense type of fact.

But another fact of the matter is, unfortunately, at some point you’re going to have to pay taxes on the money you’ve saved.

When you first started your retirement savings accounts, you may have opted for a tax-deferred strategy in the hopes that your tax bracket after retirement will be significantly lower than your current or future bracket.

Or, you may have gone the other route and figured it would be better to pay taxes sooner, rather than later.

But what’s the right retirement income strategy? There is no clear-cut answer, unfortunately, as the right strategy for your particular situation likely lies somewhere in the middle of these two common tactics.

At Tactical Wealth Advisors, we aim to help retirees as well as those in the early planning stages with financial planning and guidance that will lead them to the best retirement income strategies for their situation. We don’t take a cookie-cutter approach, but rather give you the knowledge, tools, and power necessary in order to make the right decision at the right time.

Our team can help you optimize your future and keep more with a few tax efficient distribution strategies that you may not have previously considered.

Keep reading to learn more and create your account with Tactical Wealth Advisors today for simple, guided financial planning solutions.

Understanding Your Retirement Accounts

At Tactical Wealth, we always say that the strategy you use for withdrawing savings from your retirement account is just as, if not more, important as the strategies you used for building those savings.

Tax efficient distribution strategies can not only help you live more comfortably through retirement, but they can also ensure that you don’t outlive your savings.

What you may (or may not) know about your current retirement accounts is that your taxable income can actually increase in retirement — despite the fact that you are no longer earning a steady income.

How is this possible?

Well, when you consider the fact that Social Security distributions and RMDs (required minimum distributions from your retirement accounts such as an IRA or 401K) kick in around age 70, you soon realize that your income bracket might be higher than anticipated.

You should also know that taking higher distributions will help limit the amount of taxes incurred — but the opposite is often true.

Tax Efficient Retirement Planning

Where do you go from here? How can you develop tax efficient retirement income strategies? Tactical Wealth Advisors has the answers you seek.

Our simple program allows you to view and manage all of your investments, retirement accounts, expenses, and other financial accounts all from one place.

Not to mention, our team of experienced financial planners have the ability to plug your information in and work with you to develop the best tax efficient distribution strategies for your situation.

A few of the common retirement distribution strategies we employ include:

  • Pro-Rata Strategy
  • Sequential Strategy
  • Sequential With Roth Conversion Strategy

Ready to learn more about each of these? Simply create an account or contact Tactical Wealth today.