How will taxation affect my income if I outlive my spouse?
As a couple, you’ve enjoyed the tax incentives that come from combining your income. If you’re retired, you’ve probably made plans based on the taxes you pay as a couple. Once one of you lives alone, all that changes. Tax rates are higher for single people. The increase can significantly affect retirement plans. The good news is, with some forward thinking, you can offset the impact and continue to live a comfortable life. Talk to a BlueRock Wealth advisor today to determine a plan that works for you.