Each week on the 3 Dimensional Wealth YouTube channel, Doug Andrew posts in-depth answers to questions he’s asked about money and retirement. Recently he was asked about the best strategy to reduce taxes.
What Doug recommends is converting 40 to 60 percent of your retirement income to the “tax-free bucket” where it’s no longer subject to any further taxes. This refers to the four buckets from which people typically draw their retirement income.
Doug describes the four buckets, what they are and why the tax-free bucket may be the most important, yet overlooked one when it comes to most people’s retirement planning.
CHECK OUT THIS SNEAK PEEK OF SOME OF THE IDEAS DOUG REVEALS DURING THIS EPISODE:
- What is the investment bucket and where do an astonishing number of people miss out on a chance to enjoy liquid assets safely earning predictable rates of return? Learn why the vast majority of people follow the herd and saving for retirement in an IRA or 401(k) and what they’re missing out on.
- Why is it so essential to get that retirement money out of those yet-to-be-taxed accounts and into one where it can accumulate tax-free? Doug explains how the sooner this is done, the more secure your retirement will be.
- What causes the greatest amount of dis-ease in the lives of people who are unprepared for retirement? Doug shares the biggest lessons of his more than four and a half decades as a financial strategist and retirement planning specialist.
- How can you know for certain that you’ll have enough money at retirement that you’re not in danger of outliving your saving? Doug explains the critical importance of getting a good portion of your yet-to-be-taxed money moved to where it can grow tax-free.
- Why do so many people find themselves in a higher tax bracket at retirement than they anticipated? Doug identifies how the notion that they’d be in a lower tax bracket at retirement has given way to the reality that most of their biggest deductions will be gone.
- What is the likelihood that taxes will continue to go up as we move ahead? Doug spells out how Congress is refusing to limit its spending and what that will mean for any money you have that has yet to be taxed.
- And much, much more…
Start by visiting with a IUL Specialist today.
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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment.
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