Q:

Where can you use a retirement tax calculator?

A:

Quick Answer

Bankrate.com has a calculator available that covers all the financial aspects of retirement. By using the provided chart to find your tax rate, it is possible to determine the amount due in taxes on your savings and income after retirement.

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Full Answer

The government continues to tax money you receive after retirement, such as income from work benefits or Social Security benefits. It is important to take this into account when deciding when and where to retire, since tax rates vary by state, according to the Retirement Living Information Center. Using a detailed financial calculator such the one from Bankrate offers a clear picture of how long your savings and expected income is going to last after retirement.

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