Reported 1 day ago
Suze Orman has advised Americans to focus on Roth retirement accounts to dodge the 'tax torpedo' that can tax up to 85% of Social Security benefits for retirees with higher incomes. As many as 40% of beneficiaries may experience this tax shock, but qualified withdrawals from Roth IRAs remain tax-free and don’t count toward income thresholds. Orman emphasizes reviewing investment portfolios regularly and considering real estate as a means to diversify and lessen reliance on Social Security.
Source: YAHOO