Tax planning in retirement doesn't have to be complicated. But it can easily turn into a tangled mess of carefully timed account withdrawals and a fluctuating tax rate from one year to the next, all designed to maybe save a few hundred dollars here or there so long as you execute the plan perfectly.
The problem is, the more complicated a plan is, the more opportunities there are for it to fail, and end up costing you more than it was straining to save you.
Some people really enjoy the constant effort involved in maintaining and executing a complex plan. It's like a hobby for them. Or maybe an obsession.
But most of us are better off with a reliable and consistent plan we can comfortably keep to, and forget about most of the time rather than constantly having to keep it front of mind.
With SafelySpend, you can set a smooth tax rate in retirement with the built in Effective Tax Rate Estimator. Set your state or province, then use the sliders to set the balance across your retirement accounts.
Your included withdrawal plan will clearly show how much you need to withdraw each month and how much you need to set aside for your taxes.
No big dips and swings. No complicated withdrawal account sequencing. No moving parts to break down and cause you trouble in the middle of what should be a relaxing and care-free retirement.
If you're ready for a smooth retirement planning experience, click here to learn more and get started.