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As a financial planning concept, the subject of tax diversification is relatively simple: It means utilizing a number of different types of investing and savings accounts that are taxed differently for federal and state income tax purposes.

But, as explored in the latest episode of the Great Retirement Debate podcast hosted by Ed Slott and Jeff Levine, putting the concept of tax diversification into practice is anything but simple, especially when it comes to planning for retirement.

A new law increasing the age you must withdraw from your retirement accounts may come with some unexpected and expensive consequences.

Retirement legislation President Biden inked in December pushes the age that retirees must start taking required minimum distributions, or RMDs, from IRAs, 401(k)s, and 403(b) plans, to 73 this year, up from 72.That will bump up higher to age 75 in 2033

In your 30s, responsibilities pick up.You’re likely to buy your first home and grow your family

Rushing in a 2022 contribution before the April 18 deadline?Tax and IRA expert Ed Slott shares what you need to know.

Inflation is driving higher limits on retirement plan contributions this year, but it’s also lifting the amount of income that’s subject to Social Security tax.

Unless you hold some niche investments, the value of your portfolio is likely down at the moment.The S&P 500 has surrendered about 18% over the past 12 months, and the broad bond market hasn’t done much better, having lost 13%.

A major new retirement law has been enacted, the second big one in little more than three years.Like movie sequels, this one has all the makings of a blockbuster.

The Secure 2.0 Act will allow Americans to save more money in tax-sheltered workplace retirement accounts, make the saving process easier through automatic enrollment, provide new incentives, delay the time when withdrawals must begin and set in motion other important changes.

President Biden signed the Secure Act 2.0 after passage by both the House and Senate.That long-discussed package of changes to retirement savings rules aims to make it easier for Americans to build retirement savings and less costly to withdraw those savings.

Congress is on the verge of passing a bill that aims to help Americans save more for retirement and leave their retirement savings untouched and untaxed for longer.

The bill nearing approval raises the age people are required to start withdrawing money from tax-deferred retirement accounts to 75 from 72.It increases retirement savings contribution limits for older workers and provides an increased incentive to people with low and moderate incomes to save in retirement accounts