some advisors will harp on your taxes, and how they will chew up lots of your savings/income.
well, you will not be paying FICA tax in retirement. if you are in the lower tax brackets, then all capital gains taxes are taxed at 0%! woot. so if you have some investments outside your IRA/ROTH/401k, and they have some capital gains (like you would get in most mutual funds), then you can simply reinvest the gains each year, and pay zero taxes on those gains.
if you simply take money out of savings and pay your bills, then that money too is largely tax free, as you've already paid income taxes on it long ago.
income from SS is taxed by the Feds and most states, as is pension income.
several years ago, we had a lot of medical deductions, so we took those on Sch. A, and the net effect was to greatly lower our income. to the point that the refund check from the state (NM) that year included a flyer advising us that we may qualify for food stamps.
remember, you are taxed on your income, not on your wealth.