As you may or may not know, the Tax Cuts and Jobs Act is due to expire at the end of next year – just 16 months from now. The Biden Administration has proposed new tax increases worth knowing about.
Why are QLACs getting a attention now? Two reasons: (1) SECURE Act 2.0, and (2) rising interest rates.
Believe it or not, you’ll have a number of options available to you – and it pays to do your homework before making decisions that could be irrevocable – and costly.
But Congress Could Provide the Wild Card. Roth accounts can be attractive, especially when viewed through the lens of our national debt and the possibility (probability?) of higher taxes in the future to fund that debt.
When it comes to building a solid financial future, finding the right investment vehicle can be a daunting task. Comparisons are often made between an IUL (Indexed Universal Life Insurance) and a Roth IRA (Individual Retirement Account) as a choice between getting life insurance or investing in the stock market. While an IUL can give the appearance of doing both; however that’s not really the case – and, often, this can lead to unrealistic expectations.
Tax planning through retirement is important; and failing to do it through all four stages of retirement can prove costly because some of the tax traps are permanent. Here’s an example:
The SECURE Act includes roughly 100 new rules for retirement affecting both individuals and businesses – all with tax implications and various effective dates. These are the most expansive changes to retirement rules in 40 years.
The SECURE Act 2.0 may do a lot to help secure Uncle Sam, but I’m not so sure about the rest of us.
How about an asset class that doesn’t have the risks of stocks or bonds? One that can provide stability and peace of mind.
True! Market losses aren’t all yours. The IRS subsidizes part of them.
As you may or may not know, the Tax Cuts and Jobs Act is due to expire at the end of next year – just 16 months from now. The Biden Administration has proposed new tax increases worth knowing about.
If you are one of those asking the ‘will my money last’ question, there’s a way you can find out just what your probabilities are!
