If Doug Andrew were to tell you that most IRAs and 401(k)s are both horrible, would that strike you as unnecessarily harsh? Despite the fact that so many people save for retirement in on of these vehicles, it’s an opinion that is shared by many who are in the know.
Over the past several years, a number of major national publications have stated “it’s time to retire the 401(k)” or called the 401(k) “a financial flop.” Their point is that it’s time to replace it with something better. Even the Wall Street Journal has noted that the original champions of the 401(k) now lament the day that they ever came up with that idea.
In this episode, Doug goes into the difference between an IRA and a 401(k) and offers some far better alternatives in which to save for your your brighter future.
CHECK OUT THIS SNAPSHOT OF SOME OF THE TOPICS COVERED IN THIS WEEK’S BROADCAST:
- What makes a 401(k) or IRA a ‘qualified plan’? Doug explains that the first thing we must grasp is that they are qualified with the government through the IRS and the Internal Revenue Code.
- What are the fundamental differences between the 401(k) and IRA? Doug spells out differences as well as their commonalities.
- How does the Roth IRA figure into this picture? Learn how the Roth differs from traditional IRAs and 401(k)s and how it came about.
- What is the difference between waiting until retirement to pay taxes on your savings versus paying them up front? Doug has a marvelous analogy of a farmer paying taxes on his seed money versus paying taxes on his harvest.
- Why do so many people find themselves in a tax bracket that’s as high or higher than when they were working? Doug explains why this happens and why you should not count on your taxes being lower either.
- Why is tax-free accumulation so much better than the tax-deferred vehicles like 401(k)s and IRAs? Learn how to get those taxes over and done with and watch your money accumulate and be accessed without taxes or penalties.
- And much, much more…
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.