Impact of taxes
Impact of Taxes
The biggest difference between the wealthy and the middle class is the time the wealthy spend thinking of ways to minimize their taxes. Learn how taxes can make an enormous impact on your retirement savings, and how to minimize that impact.
Basics On Insurance Cash Value Growth
Insurance products that build cash value (Life and Annuities) all enjoy the benefit of growing tax deferred.
But why is that important to know?
That means you don’t pay tax unless you need to access your money. So while other vehicles are taxed yearly, these vehicles leave that amount in for even more growth on your dollars.
We call it triple compounding, works similar to your IRA or 401(K) but can be more flexible in the type of money you are putting in. Not all annuity types are the same and some have features you can’t get with any other product. It’s important to review your overall goals and how risk transfer plays into you accomplishing them.
