Michael D. Thomas Agency
Are you planning for retirement and wondering how to get the most out of your 401k or other retirement funds?
What many people don’t know is that Life Insurance can provide a wonderful vehicle for a tax-free retirement. Here’s how it works. When you put money into a 401K, you get a tax deduction, and the money grows tax-deferred. When you withdraw the money in retirement, you pay taxes on it. But when you purchase a life insurance policy, it’s different. You don’t receive a tax deduction at first. The money grows tax-deferred, just like a 401K. But when you withdraw the money, it’s tax-free! This could add up to a savings of 400% on taxes over a 30 year period.
To learn more about smart retirement saving strategies, give us a call, or visit our website today.
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