Tag: retire

Retirement: How your retirement income is taxed

By SANDRA BLOCK Kiplinger’s Personal Finance | Posted: Sunday, September 28, 2014 12:00 am One of the biggest mistakes that retirees make when calculating their living expenses is forgetting how big a bite state and federal taxes can take out of savings. Tax-deferred accounts: Prepare to feel pain. Withdrawals from traditional IRAs and your 401(k)…