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Shocking Truth: How Deferring Taxes Could Ruin Your Golden Years - Retirement Republic
Skip to contentFor many years, the common advice regarding managing finances in qualified accounts like 401(k), 403(b), and IRA has been to defer tax liabilities on these assets for as long as possible to enjoy unhindered growth. The logic is simple: why pay taxes now when you can pay them later? However, as these accounts grow, so does the tax liability, along with the potential future pressure from required minimum distributions (RMDs), which could affect your tax brackets and Medicare premium surcharges.It’s worth mentioning that postponing taxes may not always be advantageous and could...…Skip to contentFor many years, the common advice regarding managing finances in qualified accounts like 401(k), 403(b), and IRA has been to defer tax liabilities on these assets for as long as possible to enjoy unhindered growth. The logic is simple: why pay taxes now when you can pay them later? However, as these accounts grow, so does the tax liability, along with the potential future pressure from required minimum distributions (RMDs), which could affect your tax brackets and Medicare premium surcharges.It’s worth mentioning that postponing taxes may not always be advantageous and could...WW…
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