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When retirement income is drawn from multiple sources at once, there can be unexpected tax obligations, resulting in a higher level of taxation than what was anticipated. These tax scenarios can be complex, and retirees expect guidance from their financial advisors.

Before a client retires, advisors can help them prepare by focusing on what can be controlled: taking the right steps to plan for (and minimize) taxes in retirement. With tax-diverse accounts in place, clients can better navigate the uncontrollable factors when drawing retirement income.

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Nationwide’s survey can help advisors and clients better understand retirement income needs. This summary reviews the key findings.

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Future retirees have some strong feelings about taxes in retirement. This infographic shares revealing insights.

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Use this checklist when talking with your advisor about incorporating tax-efficient strategies into your financial plans.

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Examine the full report of the survey.

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For advisors: View more resources from Nationwide on the topic of tax-efficient retirement income.

This information is general in nature and is not intended to be tax, legal, accounting or other professional advice. The information provided is based on current laws, which are subject to change at any time, and has not been endorsed by any government agency.

Federal income tax laws are complex and subject to change. The information in this webpage is based on current interpretations of the law and is not guaranteed. Neither the company nor its agents or representatives give legal or tax advice. You should consult your attorney or tax adviser for answers to your specific tax questions.