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.
Top survey findings
Nationwide’s survey can help advisors and clients better understand retirement income needs. This summary reviews the key findings.
Infographic about taxes on retirement income
Future retirees have some strong feelings about taxes in retirement. This infographic shares revealing insights.
10 tips to help build tax-efficient retirement income plans
Use this checklist when talking with your advisor about incorporating tax-efficient strategies into your financial plans.
Complete survey results
Examine the full report of the survey.