Should I Get Money Out of My IRAs and 401(k)s Now?

One of the big questions that people are asking Doug Andrew whether it’s time to get money out of their IRAs and 401(k)s. This question comes amid the anxiety that all of us are experiencing over social distancing due to the Covid-19 outbreak and what is being done to try to prevent its spread.

They’re also anxious about the ongoing market volatility we’re seeing where the stock market is being whipsawed back and forth and people losing as much as third in their retirement accounts if they’re in the market. This is particularly a concern for those who have been accumulating their retirement cash in IRAs and 401(k)s.

Maybe you’ve heard the phrase “If you don’t use it–you’ll lose it”?

This is true when it relates to opportunities to get taxes over and done with at today’s lower tax rates because taxes will be going in the future thanks to the incredible amount of government spending that’s taking place.

Now may be a good time to take care of those taxes while account values are lower.

CHECK OUT THIS PREVIEW OF SOME OF THE TOPICS DOUG COVERS IN THIS EPISODE:

  • Why might you want to consider paying taxes now rather than later on those IRAs and 401(k)s? Doug makes the case that this may be the lowest tax bracket you’ll ever be in.
  • What is the likelihood that taxes will be going not just higher but much higher? Doug explains how that $6 trillion in new federal stimulus spending is likely to affect everyone who pays taxes in the days ahead.
  • How likely is it that taxes may be headed toward 50, 60 or even 70% rates? This is a question everyone saving money in a tax-deferred account should be asking themselves.
  • Will the prospect of Medicare for all or forgiveness of student loan debt or free college being enacted in the near future? Keep in mind that it’s an election year and each of these items will result in higher taxes.
  • Would you rather pay tax on a lower valued IRA or 401(k) or wait and pay it on a higher valued one? Doug spells out how it’s possible to get those taxes over and done with at today’s tax rates and accumulate tax-free from then on.
  • What is Doug’s favorite tax-advantaged vehicle to accumulate your retirement nest egg? Learn what the LASER fund is and how doing a strategic rollout into one will allow you to enjoy liquid assets safely earning predictable rates of return.
  • And much, much moreā€¦

Start by visiting with a IUL Specialist today.

What If You Could Make Your Money Work as Hard as You, Without Additional Risk? Click Here Get Your FREE Copy of The LASER Fund Today….

*Life insurance policies are not investments and, accordingly, should not be purchased as an investment.

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