5 Tax Mistakes to Avoid in Retirement
Even great savers can reduce their retirement income by making these mistakes.
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One of the best ways to prepare for retirement is to set aside money in a tax-advantaged retirement account. Hopefully, you have done so year after year and built a nice nest egg.
But the job doesn’t end there. Even if you’ve been a great saver during your working years, you can still reduce your retirement income by making some basic tax mistakes after quitting work.
As you plan for retirement — or even if you already have entered post-work life — here are some costly tax mistakes you should know and avoid after you retire.