Posted on | September 16, 2010 | No Comments
To save tax cuts or not to save tax cuts, that is the question…
It’s gone beyond a mere question to a rolling debate as the nation’s lawmakers grapple with the imminent expiration of Bush-era tax cuts.
Obama’s original plan for post-expiration law indicated America’s top earners would find themselves in a higher tax bracket.
More recently, House Republican Leader John Boehner of Ohio suggested a compromise. A day later Senate Republican Leader Mitch McConnell of Kentucky proposed continuing the tax cuts indefinitely.
How does this affect you?
It’s too soon to tell – we won’t know until the partisan-fueled argument subsides and a decision is reached.
But rather than wringing your hands to see what happens, why not as a general rule, take a safer course and find prudent, tax-advantaged ways to save for retirement?
That may sound pedestrian, but you’d be surprised how many people think they’re walking down the easy path toward “tax-advantaged retirement” when actually they’re hiking up a hill – some with overloaded backpacks and little water and food to help them along the way.
In other words, there are varying degrees of “tax-advantaged,” so it would behoove you to find optimal strategies.
Maximum-funded, tax-advantaged insurance contracts can give you the benefits of tax-advantaged retirement savings, along with liquidity and safety.
Whether you’re just starting on the path to accumulating wealth or you’re already a top achiever, find out how you can protect your money – and your future.