Sadly the Retirement accounts that were to yield tax savings in retirement didn't work out in many cases. Many individuals took tax savings when they deposited into Traditional IRA accounts in anticipation that when they took the funds out after retirement that they would be in a lower tax bracket and therefore pay less tax on the funds that become 'income' when withdrawn. The majority of those who are now, or soon to be, retired are Not in a lower tax bracket. Some, in fact, may be in a higher tax bracket in retirement than they were when they were contributing to their IRAs.
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