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The Retirement Tax Torpedo You Can't Ignore | California News
Description
Over 4.1 million Americans are hitting age 65 this year — a retirement milestone that brings more than just silver hair. A looming “tax torpedo” awaits: higher taxes on Social Security benefits and mandatory withdrawals from retirement accounts. Financial experts warn this double hit can catch many off guard, especially as so many retirees are hitting these thresholds at once. Planning ahead is key to avoiding surprise financial burdens and sailing smoothly into retirement.
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