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Subject:  Re: include taxes when figuring withdrawal needs Date:  4/30/2013  7:03 AM
Author:  TwoCybers Number:  72137 of 78166

2gifts the first answer you got, which spoke about the Fidelity Planner taking in taxes was posted while I was writing my response. I am not familiar with that tool, but I would dig into the tax situation carefully. While you may not have any income beyond what you told Fidelity, does the planner ask enough questions to know that? If not, be very suspicious of included taxes. I can see that such tools might have a percentage for taxes, but if so that is most likely taxes on investment income. Things like number of dependents, itemized deductions, whether you have "tax free" investments and even your legal residence get into taxes. Lastly in the area of taxes, despite what some vocal folks like to hear, the portion of GPD paid in federal taxes is the lowest it has been in the last 60 or 70 years. To say the least people exp