Taxes are a major part of your life, especially your life in retirement. Having a good understanding of how you can prepare may save you in the long-run. Discussing your options with a financial advisor can help point you in the right direction.
A big part of the conversation will be about deciding how to best save in a 401(k) or a Roth 401(k). But you also need to consider the outcomes and limitations on things like taxable accounts or even life insurance. If you are able save on taxes, your money lasts longer and then you get the flexibility on how to spend it.
Let’s jump in!
Here’s some of what we discuss in this episode:
- What are the pros and cons of using a 401(k)?
- What should you do about tax-free accounts?
- What are the consequences of taxable accounts?
- Are there tax consequences with life insurance?
If you have any questions about what we discussed on the show or want to follow up with any financial planning questions of your own, get in touch with us and schedule a visit here.
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