Age 65 with $1.5 Million in Retirement Savings. Will My Taxes in Retirement be Higher or Lower? 

You’ve saved around $1.5 million in your IRA and 401K accounts and you plan to retire around the age of 65. So will your taxes be higher or lower in retirement?
Today we’re going to take you through a sample case to show you that situation. We’re going to show you what the taxable income, tax rates, and tax brackets will look like in retirement versus today. Of course, we want to take some time to also provide you ways to help lower your taxes in retirement so that you’ll have more money to enjoy your time. We’ll show you how this sample case could potentially save up to $300,000 of federal taxes paid as we wrap up the video.
Here’s what we discuss in this video:
0:00 - Intro
1:08 - Sample case details
5:53 - Future taxable income
10:54 - Tax brackets
14:24 - Will taxes be lower?
16:30 - What can you do to lower taxable income?
19:45 - What should we implement in this case?
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