Do you know how much money you have in your IRA or 401(k)?
Most people do, but what about how much you’ll owe in deferred taxes when you withdraw it? This is the most important number because it determines how much money you’ll have to spend throughout your retirement and whether you’ll outlive what you have.
The good news is that you have more control over how much you’ll pay in taxes in retirement than any other time of your life! By taking advantage of some simple IRS-approved tax-planning strategies before you retire, you could save yourself a bundle. We’ve seen examples of savings that are typically tens of thousands, if not hundreds of thousands of dollars!
Now is the time to act because taxes are lower today than they’ve been in over 40 years. The combination of our skyrocketing national debt and under-funded social security and Medicare programs will likely push taxes much, much higher, and the tax increases could be right upon you, clobbering your retirement income.
At Eric Scott Financial, our Financial Architects help you design a blueprint for taxes. Our Financial House planning approach helps you create peace of mind with tax planning, retirement income and more.
Don’t miss out on potentially saving tens of thousands of dollars back in your retirement pocket. Call our office at (435)773-9444 to schedule a time to chat.