People far too often pay more taxes in retirement than they need to because of confusing rules and surprises in the tax code.
But another reason for that is simply not looking ahead and asking, how might my actions today affect my tax situation in later years and help my money last longer.
Your tax exposure will change over time depending on your age and where you are relative to retirement. If you don't look ahead and plan for these changes, it can be costly. When you break it down this way there becomes four distinct stages to retirement tax planning.
This video will help you look ahead and be prepared so that you make the right decisions to help your money last longer.
Dan Lohmar is a Certified Financial Planner professional with United Wealth management specializing in PRAP management and financial planning for United Pilots. And like many of you, Dan is also a United pilot.