Summerlin Benefits Consulting Q&AAnswer
Nov 05, 2024 - 09:35 AM
Taxes can significantly impact retirement savings by influencing the amount of money available for spending during retirement. To minimize tax burdens, strategies include utilizing tax-free income options, such as Fixed Indexed Universal Life (FIUL) insurance, which can provide access to cash without tax implications. Other strategies may involve careful planning of asset withdrawals and understanding tax liabilities on retirement accounts. It's essential to create a comprehensive tax strategy for retirement planning to safeguard savings and reduce potential tax bills for beneficiaries.
