Do You Know About This Triple Tax-Free Savings Option?
People seek the help of a financial advisor for many reasons, not the least of which is to get some guidance on tax management. After all, taxes can be one of the biggest drags on your portfolio’s investment returns.
One way to manage your taxes can be through the use of certain retirement accounts: a traditional IRA, a Roth IRA, a 401(k), and so forth. Some offer an immediate tax deduction, others allow tax-free withdrawals, and most allow some form of tax deferral along the way. But there’s only one option available that gives you a “Triple Tax-Free” benefit: tax deduction going in, tax deferral over time, and tax-free withdrawals on the back end.
Of course, you have to follow the rules, and not everyone will meet the qualifications. But if done properly, it’s one of the best tax-preferenced savings vehicles available to you today. So what exactly are we talking about? Get all the details from “Professor” Rick Plum, CFP on this week’s edition of Lucia Capital Group Weekly!
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