Otherwise, taxes would be the same because, you see, taxes are based on your taxable income which translates into your Standard of Living once you adjust for deductions and exemptions – presumably the same deductions and exemptions you have before retiring.
Ask retirees if their taxes are lower now than when they were working – most will say no.
Article posted at AdviceIQ.
Original blog … Myth – Your taxes will go down in retirement … that inspired my syndicated article.
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