If you?re over age 50, you might be starting to crunch the numbers on how much you can expect to receive in retirement after taxes.??
A common question we get is whether pension benefits are taxed. The short answer is: ?yes, they are,? but there are a lot fewer deductions taken out once you retire.
What many retirees are often trying to understand is how their ?gross wages? will compare to their ?net wages.??
This can be a confusing subject when you're actively working, but here's the easiest way to think about it:?
In retirement, you're no longer paying into programs like Medicare and FICA. This could result in you seeing more money than you might think.
In a recent podcast episode, we explore how fewer deductions in retirement could increase your retirement benefit. Find out what you should consider in your planning process.?
Listen now or read the transcript.
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