Contributing tax-deferred dollars in Individual Retirement Accounts (IRAs) is a big incentive for investors. But income taxes will come due once they start using the money.

The workshop suggests potential strategies for reducing the taxes attendees and their heirs could pay and suggests further conversations with a financial advisor.

The 5 Phases of an IRA

1. Accumulation
2. Opportunity zone
3. RMDs
4. First death
5. Second death