Sharing Daily Discoveries About Personal Finance And Business Topics

Trying To Make Less Money At Retirement

I know a couple who has two kids and recently the mom decided to get educational training to go into a new field and as a result they needed to find someone to do some babysitting every weekday. While originally they paid one of their family members to babysit the kids as they were retired, they realized that by taking the money on top of the pension that they received it would result in having to pay taxes.

It was kind of interesting as most people that they approached were in a similar predicament and had similar concerns. Kind of makes you wonder if retirement plans in a general sense are a little too specific in terms of what you can and can’t do financially. I guess most people would say just find ways to get rid of your money if necessary such as donating to charitable organizations. Doesn’t hurt to pre-plan a little in that sense I suppose.

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