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Kiplinger
Kiplinger
Business
Kyle Hammerschmidt, Investment Adviser

The Retirement Move That's Quietly Taxing Your Social Security to the Max (and How Early Roth Conversions Can Help)

Stainless steel scissors in mid air about to cut US $1 dollar bill over gradated green background.

If you have millions saved in your 401(k) and IRA, that feels like a win, and it is. But there's one way a large balance quietly works against you: The more money sitting in tax-deferred accounts, the more likely the IRS is to tax the maximum allowable portion of your Social Security check.

That happens by default, unless you plan around it.

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