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Doing Away With Higher Tax Burden as You Age

By JOEL FRANK
Posted 7/27/20

Many workers retire in their 50s with a $1-million balance in their pre-tax retirement savings account. I wanted to see how the growth of this untaxed $1 million affects the retiree's income- tax obligation over the remainder of his/her life.

As we age, the Required Minimum Distribution (RMD) gets larger and larger, because our life expectancy gets smaller and smaller while the account balance continues to grow.

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