What is more important than the dollar? It is the knowledge in how to grow, move or hang onto it during a family, economic or emergency situation.
We are constantly advised through the media and advisors to invest in the market by placing it into deferred plans. None of them are telling you that taxes will go up or about the fees and penalties associated with these plans. We’ve been in an all-time tax low. Our president signed a bill with no cap on the rise of future taxes. The only way to pay for the health care change is from higher taxes.
Think about this. It is so important that you understand tax-free income. No one talks about this. Everyone of you reading this needs to know and take full advantage of this.
You know of the Roth IRA. However, be it tax- free, you may only contribute a specific amount annually. Later when accessing the money, it can run out. There is no lifetime income guarantee.
Key points to think about:
1) Does the plan I contribute to guarantee me lifetime income?
2) Even if you have some money in a deferred tax plan, does it guarantee you a lifetime income?
3) Is it transferred tax-free to my family in the case of my death?
These are just a few questions you need to think about. My passion is being your advocate! There is what you know and what you don’t know. Most of the groups I speak with have no idea that there are ways to protect your money by guaranteeing that even if you run out of income you can still have money coming in.
Ask yourself.
Do I have liquidity and guarantees right now?