Only 2% of the population has both a pension and more than $1 million saved. This is a great place to be, but also requires advanced planning, especially when it comes to taxes. About 20% of Americans have a pension, while 10% have $1 million or more saved. Combine those two percentages and only 2% of the population has both, leaving them in a unique situation when it comes to retirement planning.
How Taxes Change After Retirement: What The OBBBA Means For Retirees
For many people, retirement is viewed as a
