How You Save For Retirement Can Make All the Difference

One of the more common questions that Doug hears on a regular basis is whether or not the person asking should save for retirement in a particular manner. Specifically, this question often takes the form of something like, “Should I have a standard 401(k) or IRA or a Roth IRA?” Sometimes they’ll ask about different types of savings accounts and which bank might pay more interest. How we approach saving for our long term goals is more important than many realize. Understanding the benefits and disadvantages of the various savings methods could very well spell the difference between a happy and prosperous retirement and the horror of outliving our nest egg.

Here’s are a few examples of the subjects Doug addresses this week:

  • When your employer matches a certain percentage of your contributions to a 401(k), is that match more likely to end up in your pocket or Uncle Sam’s?
  • If you were a farmer, would it be better to pay taxes on your seed or on your harvest? Doug explains how this analogy applies to saving for retirement.
  • Why do so many people find themselves in a higher tax bracket at retirement than they were in during their working year? The answer may surprise you.
  • Do you understand the difference between tax-deferred savings and tax-advantaged savings? You will after you hear Doug’s explanation
  • Learn about the savings vehicle you could be utilizing to enjoy tax-free accumulation, distribution. You’ll be shocked that more people don’t use this approach.
  • Are taxes more likely to go up or down between now and the time you reach retirement? How might this affect your savings?
  • And much, much more…

Start by visiting with a wealth architect today.

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