Want To Minimize Retirement Taxes? Don’t Follow This Popular Strategy
But you may want to rethink this conventional wisdom. Instead of focusing on deferring taxes, Morningstar’s Mark Miller suggests looking at how to minimize your overall total taxes during retirement – which can mean tapping tax-deferred accounts first. Q4 2022 hedge fund letters, conferences and more A financial advisor can help you decide on an order in which to tap your retirement accounts. “The idea is to use dollars in 401(k) or IRA accounts to meet living expenses — or convert a portion of these assets to Roth IRA accounts — before claiming Social Security in years when your marginal tax ...