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Tax Efficient Strategies

We’re here to help you feel confident in your financial future.

As you approach your retirement, there’s always the concern about taxes being raised. To combat this, we consider taxes for your financial decisions and planning accordingly.

A tax-deferred vehicle provides the benefit of keeping your money at a compound interest, exempt from income taxes. This allows the interest to accumulate at an accelerated rate, putting more money into your retirement fund. Keep in mind that there are very few vehicles that are able to avoid taxes completely. But with an insurance product, such as an annuity, you can avoid paying the taxes until after you retire when you may qualify for a lower tax bracket.

Remember that the contract value will reduce with withdrawals. This may also include decreased value in protection benefits. Any additional withdrawals executed outside of the charge schedule will incur a withdrawal fee. Income tax is applicable to all withdrawals and may have an additional 10% federal tax attached to it if it’s taken out before the age of 59 ½.

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