The old way of thinking told us that you would probably retire with 2/3 of your income and would be in a lower tax bracket, so it made sense to pay taxes on your retirement income after you retire. In a recessionary economy where federal taxes are virtually guaranteed to go up, however, that strategy no longer makes sense. Instead, you need to reduce your current tax bracket while maximizing your spendable income to lawfully avoid income tax. This strategy will give you the most money now and later.
If you find any of this confusing or are concerned about how you will afford retirement, please call me for a free, no-obligation consultation. I will explain to you what the economic experts are saying about retirement planning, and I’ll help you design a plan that will fit your needs now and at retirement. The time to plan is now.
Life Design Financial
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