Reported 8 months ago
Financial advisor Brandon Renfro provides guidance on estimating tax liability in retirement with $800k in a 401(k), $3,178 in Social Security, and $2,090 in pension per month. He discusses factors like taxable income from pension and 401(k) withdrawals, including taxable portion of Social Security benefits, and how to calculate taxable benefits based on combined income for tax estimation. Renfro highlights the importance of consulting a tax professional or financial advisor for personalized advice on managing taxes in retirement.
Source: YAHOO