Should You Defer Taxes or Keep Your Money and Never Pay Tax Again?

Should You Defer Taxes or Keep Your Money and Never Pay Tax Again?

Deferral in the financial world can seem like magic, but is it really a safe bet for your financial future? While deferral allows you to accumulate money, it doesn’t necessarily mean you’ll end up with more money to use, especially when tax rates and market performance come into play.

In today’s episode, we explore why deferral can be a gamble and what you should consider before committing to it. With legislative changes like the “SECURE” Act on the table, it’s crucial to understand the potential outcomes of deferring taxes.

Key Takeaways

• The Magic of Deferral vs. Reality: Learn why deferral might not provide as much benefit as it seems.
• Future Tax Rate Concerns: Understand where tax rates could head and how this might impact your financial strategy.
• Alternatives to Deferral: Discover the benefits of having a guaranteed foundation of money you can access tax-free.

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Resources:

The Big Bank Bailout – Forbes.com Article

Come on the Wealth Cruise October 2019 – Link