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One other thing about taxes....if you have a regular IRA, you need to take out RMD after age 70½. That is counted as income and taxable. And if it is enough it will raise your Medicare fee up to $220+ per month and you will be paying taxes on your SS also.

So although you may be paying less taxes to begin with, if you have an IRA, you will be paying out the nose when you start taking RMDs. This can be a shocker when it hits, there is no free lunch from the Gov't.

Birgit
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