Skip to Main Content

6 retirement strategies to minimize taxes and preserve your nest egg

Retiree resting in hammock on the beach shore | Kraid Scarbinsky/DigitalVision/Getty Images
Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

You’ve spent decades building a retirement nest egg, and now your career has come to an end. You’ve used a variety of tax preferential savings vehicles, including employer sponsored retirement plans and individual retirement accounts, or IRAs. You might have squirreled away some additional after-tax savings, too. Now you’re retired and think there’s nothing left to do other than enjoy your retirement.

Not so fast.

“Many variables impact tax planning for this group,” says David McKelvey, CPA and partner with Friedman LLP. He sees retirees between the ages of 62 and 70, advising them to take advantage of tax optimization strategies to preserve the value of their nest egg.

Read on to learn about several tax-savvy retirement strategies that can help you hang on to your money longer.