Financial News & Retirement Blog

5 Ways to Reduce Your Taxes in Retirement

By Austin Powell • 13 Aug, 2021

What are the biggest expenses you’ll face in retirement? Healthcare? Housing? Travel? All of those costs could be significant, but one of the biggest could be taxes. That’s right. Just because you’re done working, doesn’t mean you’re done paying taxes. Many sources of retirement income, like Social Security, pensions, and retirement account distributions, are taxable. That doesn’t even include the wide range of other taxes you could face, like property taxes, sales tax, and more. Taxes may be a part of life, but they can also be a drain on your retirement. Every dollar you pay in taxes is a dollar that can’t be used to support your lifestyle and fund your goals.

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Advisory services offered through J.W. Cole Advisors, Inc. J.W. Cole Advisors, Inc. and Blue Financial are unaffiliated entities. Advisors must be properly registered in the state where you live in order to conduct securities related business with you. A response to your request for information might be delayed in order to assure our compliance with this regulation. No information provided on this site is intended as a solicitation to buy or sell any security. The investments and services mentioned may not be available in every state. No security will be offered or sold to any person, in any state in which such offer, solicitation, purchase, or sale would be unlawful under securities laws of such jurisdictions. Check the background of your financial professional on FINRA's BrokerCheck.

Licensed Insurance Professional. We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. ARE-5970 – 19602 - 2019/12/31

For a copy of JWCA’s Form CRS please visit: https://www.jw-cole.com/disclosures

For a copy of JWC’s Disclosure Supplement please visit: https://www.jw-cole.com/disclosures. By following the link, you consent to receipt of the Form CRS electronically

Let’s talk!

Have a question or comment? Let us know.

Call Us:

704.302.1141

Email us:

[email protected]

You can also find us here:

BBB RATING: A+

5970 Fairview Rd., Suite 400 Charlotte, NC 28210

Evan Alexander Calott & Ronald Austin Powell offer advisory services through J.W. Cole Advisors, Inc. J.W. Cole Advisors, Inc. and Blue Financial, Inc. are unaffiliated entities. Advisors must be properly registered in the state where you live in order to conduct securities related business with you. A response to your request for information might be delayed in order to assure our compliance with this regulation. No information provided on this site is intended as a solicitation to buy or sell any security. The investments and services mentioned may not be available in every state. No security will be offered or sold to any person, in any state in which such offer, solicitation, purchase, or sale would be unlawful under securities laws of such jurisdictions. Check the background of your financial professional on FINRA's BrokerCheck.

Evan Calott, Ronald Powell, & Nathan Carey offer insurance services through Blue Financial, Inc. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. ARE-5970 – 19602 - 2019/12/31

For a copy of JWCA’s Form CRS please visit: https://www.jw-cole.com/disclosures

For a copy of JWC’s Disclosure Supplement please visit: https://www.jw-cole.com/disclosures. By following the link, you consent to receipt of the Form CRS electronically