Here are several common mistakes high-income individuals make in their retirement planning. While this option offers participants a much broader universe of investment options, it is not without its risks, caution many financial planners and other investment experts. Taxes Many new tax benefits for retirement planning Somewhat lost in the coverage of the new tax act are a number of extensive changes affecting retirement planning. These provisions allow taxpayers of all stripes, particularly those nearing retirement, to build larger nest eggs faster. However, as often occurs with tax changes, taxpayers need to be aware of expiration dates and weigh conflicting options in some cases.
Some provisions don t begin for several years, others begin soon but end abruptly.