Do you think in the future that taxes will be higher, lower or stay the same?
Do you think taxes have to increase if we as a country are going to pay off over $22 trillion in national debt?
So is deferring taxes really a good idea? Yet what you hear from your CPA is that you shouldn't take any money out of your IRA because you will have to pay taxes.
So Think about this: You are going to have to pay taxes at some point...the IRA only DEFERS taxes.
When you turn 70½ years old the government is going to FORCE you take out your Required Minimum Distribution (RMD).
Putting together a retirement income plan to last throughout your retirement is the most important challenge retirees face. Now with the fact that we're living longer along with advanced medical science and technology, it's extremely probable that many people who are retiring today could potentially spend 30 years or more living in the retirement stages of their life without income and only from social security and risky investments to support them. That's very scary and definitely realistic though.
Your Family Bank makes sure that your income planning is our top priority. We help our clients to establish a solid tax-free plan that's guaranteed to last as long as they do. In other words, the income plans we prepare for our clients are guaranteed to "go the distance." And that means even if they live to be 120 years or older! They will always be guaranteed to receive that monthly check. So if your income plan is one of the most important thing in retirement, peace of mind second. Let Your Family Bank help you to create and income strategy that you can't outlive so you may enjoy one of the most important times in your later years of life while having peace of mind, confidence and certainty.
Your Family Bank Will show you how to systematically take back control of this never ending ticking tax bomb and create a tax-favored environment not only for you, but also for your family.
We'd love to hear from you! Feel free to get in touch with any questions, comments, or inquiries you may have.