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Will You Pay Taxes During Retirement?

Mark P. Cussen, CFP®, CMFC, AFC

One of the key issues facing many retirees today is income taxes. The advent of the Roth IRA in 1997 started a mass migration of retirement dollars into tax-free savings accounts that have grown into a major source of retirement funds for many Americans. Traditional tax-deferred individual retirement accounts (IRAs) and qualified plans have been around since the '70s, but their tax advantages have some limitations.