When it comes to saving for retirement, it’s not just about how much money you can accumulate, but you also need to consider the amount of taxes you will have on your retirement income.
Most of your income will be subject to federal, state, social security, Medicare, and – in some cases – local or city taxation. And if you’re depending on your 401(k) or IRA – think again – you risk having a portion of your money going to Uncle Sam.
With all of these taxes, a good question to ask yourself is: Do you think tax rates are going to go up in the future or down?
We believe in addition to receiving peace of mind of a death benefit protection, there are three great benefits to purchasing a life insurance contract: tax-deferred growth, tax-free income, and income tax-free transfer. You have easy access to take withdrawals and loans out from your cash value – income tax-free.
And the money taken out can be used for anything: supplemental retirement funding, financial emergencies, college tuition, vacations, weddings, and much more!
You’re not the only one who is looking forward to your retirement. So make sure you protect and grow your money the way you want to and not by outside influences.
A tax free retirement is very desirable by many, however, there are qualifications that are needed to be achieved, including a medical exam. To see if you qualify, please fill out our contact form and we will reach out to you in 24-48 hours to discuss details.