We believe it’s important that you look to employ tax diversity in your retirement plan. Different types of investments can impact your taxes differently. Having accounts that receive varying tax treatments is a key strategy. You should work with a qualified professional to help determine exactly how much you should have in each tax “bucket” to help minimize your overall tax burden in retirement.

While the tax code can be incredibly complex, you still need to stick to the basics when it comes to filing and preparing your tax returns. So, here are our 5 tips to help you better prepare for tax filing this year.

Do you know how much you’re paying in fees for your retirement account? Were you aware that fees are commonly charged on retirement accounts in the first place? If you have access to an employer-sponsored retirement account such as a 401(k), information about your account might be harder to access given that it’s offered through your employer and often isn’t completely in your control.

Why is your 59 ½ birthday important? After all, you probably haven’t celebrated a half-birthday since you could count your age on one hand! Well, when you find out the financial opportunities that become available to you at 59 ½, you’ll want to break out the party hats and birthday cake again!