Taxes For Retirement

Plan ahead to help optimize your taxes in retirement

Taxes suck.

Paying less taxes sucks less.

Your goal should always be to pay the minimum taxes required of you, and not any more.

Sometimes that means minimizing your taxes paid this calendar year, but often it means thinking ahead to try to lower your lifetime taxes paid.

Sometimes the investments that lead to the lowest taxes this calendar year are the ones that build a huge, future, unknowable tax payment that will come due in the future.

There are some basics that you can do when you are young that can give you the flexibility you want when you get close to retirement. The below is how I am approaching my lifetime tax burden through some basic and simple steps.

Don’t be one of the people who retire and realize their FIRE number in their portfolio is actually 1/3 less because they messed up their tax planning….Cat food for dinner again.