--- title: "Retirement Daily: Tax Rates and Retirement, What You Need to Know" description: What you need to know about the different tax rates in retirement image: https://www.covisum.com/hubfs/Asian%20old%20couple%20using%20laptop.jpeg --- [Login](https://www.covisum.com/login-experience) | [Call: 402-235-4500](tel:1-402-235-4500) | [Contact Us](https://www.covisum.com/contact) ** [![covisum-logo](https://www.covisum.com/hs-fs/hubfs/covisum-logo.png?width=264&height=41&name=covisum-logo.png "covisum-logo")](https://www.covisum.com/) [![Start Your Free Trial](https://no-cache.hubspot.com/cta/default/2755909/b23743cd-d0df-4907-a66d-293b58ab1164.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/b23743cd-d0df-4907-a66d-293b58ab1164) [![Contact Us](https://no-cache.hubspot.com/cta/default/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532) # Retirement Daily: Tax Rates and Retirement, What You Need to Know [TAX  |  ](https://www.covisum.com/press/tag/tax)Mar 2, 2022 2:22:22 PM  |  by [Lauren Laferla, Director of Communications](https://www.covisum.com/press/author/lauren-laferla-pr-content-marketing-manager) No retirement decision should be made without first considering the tax impact that decision could have on the overall retirement strategy. In this Retirement Daily article, [*Tax Rates and Retirement: What You Need to Know*](https://www.thestreet.com/retirement-daily/your-money/what-you-need-to-know-about-tax-rates-and-retirement), Covisum® Founder and President, Joe Elsasser, CFP® outlines the different tax rates that determine how much you'll pay in taxes throughout retirement. "You are probably at least somewhat familiar with the term marginal tax rate; it’s also sometimes referred to as a tax bracket. The United States uses a progressive tax system. The more income you have on your return, the higher the rate you’ll be taxed at. While this may seem relatively straightforward, if you take your total taxes and you divide that by your total gross income, you're rarely going to see a rate that even resembles any of the bracket rates, for a variety of reasons. When looking at retirement as a whole, knowing your marginal tax rate isn’t very helpful. It's better to think about your effective tax rate and your effective marginal rate." Read the [Retirement Daily article](https://www.thestreet.com/retirement-daily/your-money/what-you-need-to-know-about-tax-rates-and-retirement) in its entirety here. ### Share this article [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fwww.covisum.com%2Fpress%2Fretirement-daily-tax-rates-and-retirement-what-you-need-to-know%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.covisum.com%2Fpress%2Fretirement-daily-tax-rates-and-retirement-what-you-need-to-know%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fwww.covisum.com%2Fpress%2Fretirement-daily-tax-rates-and-retirement-what-you-need-to-know%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fwww.covisum.com%2Fpress%2Fretirement-daily-tax-rates-and-retirement-what-you-need-to-know%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Retirement%20Daily%3A%20Tax%20Rates%20and%20Retirement%2C%20What%20You%20Need%20to%20Know) ## Recent Articles [ ### In The News Retirement Daily: Four Questions to Ask Your Adviser About Retirement Income Planning Read ](https://www.covisum.com/press/retirement-daily-questions-to-ask-your-adviser-about-retirement-income-planning) [ ### In The News Retirement Daily: Roth Conversions Could Become Even More Beneficial for Retirees Read ](https://www.covisum.com/press/retirement-daily-roth-conversions-could-become-even-more-beneficial-for-retirees) [ ### Social Security Retirement Daily: The Impact of Cuts to Social Security Benefits Read ](https://www.covisum.com/press/retirement-daily-the-impact-of-cuts-to-social-security-benefits) [See All Articles](https://www.covisum.com/blog) ## Related Blog Articles [ ### In The News Retirement Daily: Four Questions to Ask Your Adviser About Retirement Income Planning Read ](https://www.covisum.com/press/retirement-daily-questions-to-ask-your-adviser-about-retirement-income-planning) [ ### In The News Retirement Daily: Roth Conversions Could Become Even More Beneficial for Retirees Read ](https://www.covisum.com/press/retirement-daily-roth-conversions-could-become-even-more-beneficial-for-retirees) [ ### Social Security Retirement Daily: The Impact of Cuts to Social Security Benefits Read ](https://www.covisum.com/press/retirement-daily-the-impact-of-cuts-to-social-security-benefits) [See All Articles](https://www.covisum.com/blog) ## Covisum's ecosystem of solutions can help you grow. 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