21 Sep Retirement Income Planning Tips to Secure Your Financial Future and Plan for Healthcare Costs
Closing in on retirement? Congratulations are in order. This year, around 4.2 million people in the U.S. will turn 65, joining the ranks of those approaching retirement. Retirement signals a move away from the daily grind of work and into a new chapter filled with more freedom. This transition is exciting, but it also comes with important financial considerations. After all, you're shifting from a steady paycheck to savings, investments, and benefits. You'll want to make sure your income lasts, your healthcare needs are covered, and your lifestyle remains comfortable well into the future. According to the IRS (Internal Revenue Service), the rules governing when and how retirement account withdrawals are taxed differ significantly depending on the account type — making withdrawal sequencing one of the most consequential financial decisions retirees face.