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Kiplinger
Kiplinger
Business
Travis Babb, CFP®, EA

The 5 Biggest Tax Mistakes New Retirees Make in the First 5 Years

(Image credit: Getty Images)

Most people assume their taxes will decrease once they retire. After all, their paycheck stops coming — so their tax bill should shrink too.

But for many retirees, the opposite happens. The first few years of retirement often trigger a series of tax surprises that quietly drain cash flow and limit flexibility.

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