3 Sources of Tax-Free Income for Retirees
There are certain expenses that tend to cause seniors a lot of stress: healthcare, housing, and taxes. Taxes are unavoidable earlier in life, and they're also a mainstay during retirement.
The good news, however, is that a few strategic moves could lower your tax burden tremendously at a time in life when that's so important. Here are a few sources of tax-free retirement income you may benefit from.
Though Roth IRAs don't offer tax breaks when you make contributions, the benefit is that any withdrawals you take during retirement will be yours to enjoy tax-free. Investment gains in a Roth IRA are also tax-free. Furthermore, the Roth IRA is the only tax-advantaged retirement plan to not impose required minimum distributions, giving you more flexibility with how you take withdrawals.
Source Fool.com
