10,000 baby boomers are turning 65 every day and pretty soon they’ll be turning to the money they’ve saved in IRAs and 401Ks to support them in their retirement and that’s where many may run into some problems.
Tyson Tacker, from Boss Retirement Solutions, joined us to tell us something that people might not want to hear about personal IRA’s or a 401K’s.
Putting money into an account is simple and easy, withdrawing the money is complicated and riddled with trapdoors that could cost tens of thousands of dollars in retirement, possibly more and it gets worse as people age through retirement
Tyson points out, “the reality is that people have no clue that when they get to retirement if they don’t do the right things with taxes they could be leaving tons of money on the table and limit the amount that they have to live.”
Knowing how and when to withdraw money is critical and boils down to the difference between tax planning and tax preparation: Tax preparation – meet with your CPA or your accountant at the end of the year vs. Tax planning – start now to save money on your taxes
BOSS is inviting viewers to take advantage of a free tax-analysis while there is a limited time that the Trump tax plan is allowing some things to transpire within 401K’s or IRA’s to really save money.
Today be one of the first ten viewers to and call 801-701-8881. You can also visit BOSSRetirement.com
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