Tax-Efficient Strategies

While very few investments avoid taxes altogether, many allow you to defer paying them until retirement – when you may be in a lower tax bracket.
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Tax-Efficient Strategies

If taxes rise in the future, will it cut into your retirement savings?

Rising taxes may be a concern for anyone — especially for individuals approaching retirement. Having a solid strategy in place for how you will pay taxes on your retirement income can be an important component to living on a fixed income and avoiding surprises come tax time.
Purchasing a tax-deferred vehicle means your money can compound interest for years, without paying current income taxes, potentially allowing it to earn interest at a faster rate. Tax-deferred vehicles only allow you to defer paying income taxes until the money is withdrawn — presumably during retirement when you may be in a lower tax bracket. However, few financial vehicles avoid taxes altogether.

Because tax-deferred vehicles are generally designed to help individuals work toward specific long-term goals, there may be restrictions on when money can be withdrawn without penalty. Early withdrawals may be subject to charges and fees. Withdrawals prior to age 59 ½ may be subject to a 10 percent federal additional tax.

Our firm is not permitted to offer, and no statement contained herein shall constitute, investment, tax or legal advice. You should consult an investment, legal or tax professional on any such matters.

Strategies for Financial Independence

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It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.

At Midwest Retirement Solutions, we can offer you the following products and services:

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Annuities

Asset Protection

Life Insurance

Retirement Income Strategies

Tax-Efficient Strategies

Long-Term Care

We can also refer you to professionals who provide the following services:

» Trusts » Probate » Charitable Giving » Estate Planning » Tax Planning » IRA Legacy Planning » Wealth Management

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We are an independent financial services firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.