Your Social Security or retirement benefits can be taxed, depending on how much other income you receive.
Starting at age 72, you'll have to withdraw a minimum amount to avoid a penalty of up to 50%. You can prepare for that by taking out just enough money starting at 59½ to stay in your current tax bracket.
You can move money from your 401(k) or traditional IRA to a Roth account to avoid future tax liabilities. If you do, just know that you'll be taxed on the conversion that year.
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