The Myth of Retiring in a Lower Tax Bracket

It’s one of the most common retirement myths out there: “I’ll be in a lower tax bracket once I stop working.” But for many retirees… that doesn’t actually happen. As Jere with NortherWay and Erin Kennedy discuss, between required minimum distributions, Social Security income, and years of tax-deferred growth, your “retirement income” can add up quickly... and so can your tax bill. 💡 And here’s the bigger picture: We’re currently living in a historically low tax environment. With future tax rates likely heading higher, the question becomes: are you planning ahead—or reacting later? In this interview, we break down: ✔️ Why the “lower tax bracket” assumption can backfire ✔️ How today’s tax environment impacts your retirement strategy ✔️ Smart ways to create tax-free income (including Roth conversions and HSAs) ✔️ How tax-free income can help reduce taxes on Social Security and even lower Medicare costs 🎯 Bottom line: If you don’t have a tax strategy, you don’t have a complete retirement plan. If you'd like to learn how to reduce your taxes in retirement, please call Jere at (715) 551-4181 or visit www.NorthernWayWM.com #SocialSecurity #Medicare #RetirementPlanning #TaxStrategy #FinancialPlanning #RothConversion #RetirementIncome