When you collect income from a pre-tax retirement account, you will pay income taxes on the full value. In the same way that you currently live on no more than $74,571 after taxes, taking$76,000 per year from a retirement account would actually generate $ 61,205 in annual spendable income. Thanks to RMDs (required minimum distributions), you can't avoid these taxes indefinitely even if you have other sources of income.Next, remember the long-term costs associated with retirement. Most notably, your budget ...