Missed Fortune – Why Defer Taxes If Taxes Are Going Up?
Posted on | June 7, 2009
Podcast: Download (22.9MB)
Why defer taxes if taxes are going up?
I’m really concerned about the rate that the national debt is increasing. Two things are highly predictable: 1) Your money will never be worth more than it is today 2) Your current tax bracket is likely the lowest bracket you will ever be in.
If we know taxes are going up in the future, do you want to have a financial strategy that defers taxes? Qualified plans such as 401k(s) and IRAs defer taxes. Is that the right strategy for you?
An engineer who was in my office this week really gets it. He understands that a maximum funded insurance contract is a far better alternative. He is protected and doesn’t lose money when the market goes down but gets competitive rates of return when the market is going up.
Tags: 401(k) > 401(k)s > Doug Andrew > IRA > IRAs > Missed Fortune > Missed Fortune Radio > Qualified Plans > Taxes
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