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Missed Fortune – Tax Cuts on the Chopping Block?

Posted on | September 16, 2010

To save tax cuts or not to save tax cuts, that is the question…

It’s gone beyond a mere question to a rolling debate as the nation’s lawmakers grapple with the imminent expiration of Bush-era tax cuts.

Obama’s original plan for post-expiration law indicated America’s top earners would find themselves in a higher tax bracket.

More recently, House Republican Leader John Boehner of Ohio suggested a compromise. A day later Senate Republican Leader Mitch McConnell of Kentucky proposed continuing the tax cuts indefinitely.

How does this affect you?

It’s too soon to tell – we won’t know until the partisan-fueled argument subsides and a decision is reached.

But rather than wringing your hands to see what happens, why not as a general rule, take a safer course and find prudent, tax-advantaged ways to save for retirement?

That may sound pedestrian, but you’d be surprised how many people think they’re walking down the easy path toward “tax-advantaged retirement” when actually they’re hiking up a hill – some with overloaded backpacks and little water and food to help them along the way.

In other words, there are varying degrees of “tax-advantaged,” so it would behoove you to find optimal strategies.

Maximum-funded, tax-advantaged insurance contracts can give you the benefits of tax-advantaged retirement savings, along with liquidity and safety.

Whether you’re just starting on the path to accumulating wealth or you’re already a top achiever, find out how you can protect your money – and your future.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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