Okay, it may not be possible to entirely safeguard your retirement from the “fiscal cliff” talked about so readily in the news these days, but it is possible to make wise decisions with regard to your investments during retirement. Also, there are some strategies that may work better than others in these tumultuous times.
With all this uncertainty, you don’t want the income tax uncertainty to impact your long-term financial goals and plans, which you should always keep in perspective with all of your decisions. Moreover, it’s always best to speak with a trusted financial advisor who is familiar with your particular financial situation, family, concerns, and retirement goals. However, here is one point to consider:
Marginal tax rates for most taxpayers are scheduled to jump by three percentage points . . . perhaps you should make some investment decisions this year that will have you paying more in taxes this year so as to save on taxes next year.
If you would like to learn about some other investment points to consider as well as the impending “fiscal cliff” and how it could impact you, read this article.