Retirement Insights: The Importance of Tax Planning
As a follow up to our 2009 study, Lincoln Financial Group once again partnered with The Spectrem Group to understand how individuals plan and manage living expenses and taxes before and during retirement. One consistent finding from both studies is that pre-retirees continue to underestimate the impact of taxes in retirement.
As you read our research you may find that you have similar concerns, which can help you and your advisor develop strategies for protecting wealth as you prepare for the future. You can also take a look at our infographic, which highlights key information from the whitepaper and the full survey report.
The Underrated Impact of Taxes on Retirement
Did you know that, for affluent1 retirees, nearly one out of every three dollars spent in retirement goes to taxes?2 According to a recent study sponsored by Lincoln Financial Group, taxes were the biggest surprise in retirement. Thirty-one percent of these high-income retirees said, "Knowing what I now know, I would do a much better job of tax planning."
We're giving you that opportunity. Read our findings and learn how to take steps toward breaking the tax cycle. Then work with your advisor to develop tax reduction strategies that fit your retirement goals.
Help Protect Your Wealth from Unexpected Healthcare Costs (White Paper)
Find the answers to many of the questions you may have about long-term care, including: What are the costs? Does Medicare cover long-term care? What are your options for planning?
See how Americans feel about the risks of needing care and the effects of long-term care on their families. Discover how they're taking charge by preparing for the future.
Select a state to review appropriate information.
Cost of Long-Term Care (2013 Survey)
Today people understand the need to prepare for increasing health-related expenses in retirement, including long-term care. See the costs of nursing home care, assisted living facilities and home health care in your neighborhood and around the country. Read more.
Cost of Long-Term Care (2012 Survey)
Healthcare and long-term care costs may be the largest expenses you'll face in retirement. Understanding what these expenses may be is the first step in preparing for your future. See the costs of nursing home care, assisted living facilities and home health care around the nation. Read more.