How will Taxes Affect Your Retirement?
Uncategorized,
no Comment.
Jul 21, 2015 | 9:17 pm
Taxes and Your Retirement Plan "In this world nothing is certain except death and taxes.” -Benjamin Franklin When it comes to taxes, however, at least you can alter the timing a bit! If you're working in your career and believe that you will be paying a lower tax rate after you retire, it makes sense to delay taxes as much as you can. Participating in your employer’s 401(k) plan can be a great way to delay taxes. So can making a traditional IRA contribution or opening an annuity. DELAY TAXES: 401(k) Traditional IRA Annuity AVOID FUTURE TAX INCREASES: Roth 401(k) Roth IRA Life Insurance For more information watch the following 4 minute informational video: Tax free retirement income On the other hand, if you're concerned about today’s government budget deficits and believe you will be paying a higher tax rate in the future, you should consider participating in your employer’s…