Worried About Higher Taxes in Retirement? Strategize Now.

Amid all the speculation about taxes possibly going up in the future, your best course of action may be to incorporate tax strategies in your financial plan geared toward retirement.

• SEE MORE Your Retirement: What’s Luck Got to Do with It?

There are two important questions to ask yourself:

1. How much of your income will be taxable in retirement? That includes Social Security, employer-sponsored retirement plans, investments, pensions and other potential sources of income.
2. What will your are low by historical standards, and the Tax Cuts and Jobs Act expires after 2025.