What are some of the ways that taxes impact retirement withdrawals? Aren’t those supposed to be tax-free?

Tax concerns for retirement withdrawals are among the most important variables to ensuring that retirement accounts provide the necessary income needs, and hopefully, estate assets that a retiree wants to leave. Often it is unplanned withdrawals or a lapse in making required minimum distributions that will have the largest impact. That is why it is important that financial advisors to be aware of factors like health of the retiree and her spouse, possible unplanned large expenditures the retiree is exposed to such as dental work, an older home that might need a roof or water heater or a car that needs engine work.
For more on tax considerations for retirement account withdrawals, look for our new article this Thursday.