Are You Missing Out On Tax-Free Money?

Published on: Aug 10, 2024

Let’s dive into one of the hottest retirement topics: tax-free money.
Do you feel like rising taxes might take a bite out of your savings? Are you worried about how your retirement accounts will be taxed when it’s time to withdraw?

With the potential for tax increases on the horizon in 2025, now is the time to take proactive planning steps to keep more of your hard-earned money. If taxes increase (which they’re set to), will you be ready?

This episode covers easy-to-understand retirement strategies, with a focus on how Roth IRAs and Roth 401(k)s can generate tax-free income for you and your loved ones. We walk through real-life scenarios to explain how retirement savers can optimize their financial plans and ensure they aren’t giving more than they need to in taxes.

Whether you’re a seasoned saver or just getting started, this episode offers valuable insights to help you build a tax-efficient or potentially even tax-free retirement strategy.

 

With tax cuts from the 2017 Tax Cuts and Jobs Act set to expire on December 31, 2025, it’s critical to act now. The sooner you start building tax-free savings, the better prepared you’ll be to handle potential tax increases. Pete emphasizes that retirement planning isn’t just about growing your money—it’s about keeping as much of it as possible.

Remember, time is a key factor in maximizing your savings. Don’t wait until it’s too late—start building your tax-free bucket today and position yourself for long-term financial success. Listen to the full episode and take action now to ensure you’re not missing out on tax-free money.

 

KEY LEARNINGS:

 

  • How Roth IRAs and Roth 401(k)s provide tax-free income: Learn the difference between traditional and Roth accounts and discover why you might benefit from shifting funds into Roth accounts.
  • The impact of rising taxes in 2025: Explore how the expiration of the 2017 tax cuts could affect your retirement savings and what you can do to minimize the impact.
  • Understanding the three buckets of money: Tax-deferred, taxed-always, and tax-free accounts all play a role in your financial strategy—Pete explains how to balance them effectively.
  • How to perform a Roth conversion: Not sure if a Roth conversion is right for you? Pete and John break it down, explaining how converting accounts now can lead to big savings later.
  • Simple steps to grow your “tax-free bucket” before it’s too late: Proactive planning is the key to building tax-free wealth and keeping more of your money in retirement.

 

Don’t wait—start building tax-free wealth and retire with peace of mind. As Pete Benson says, “It’s not just about how much you make; it’s how much you keep.”

 

Click here to schedule your free Retirement Tax Reduction Analysis. 

 

Don’t leave your retirement to chance—request your Free Tax Increase Survival Kit with three free resources:

 

To help you prepare for potential tax changes and take advantage of tax-efficient strategies, get your free “Tax Increase Survival Kit” with three free resources:

  1. The Power of Zero by David McKnight – A must-read book on creating tax-free income.
  2. 2024 Tax Planning Guide – Stay up to date with the latest tax rules and planning tips.
  3. Tax-Efficient Strategies Booklet – Practical advice on how to build and manage tax-free savings.

 

Call (615) 488-9303 to claim your free survival kit and schedule a free 15-minute financial consultation for personalized tax-strategy planning.

Beacon Capital Management will mail it directly to you at no cost. Don’t miss this opportunity to access valuable resources that can help you make smart financial decisions for the future.

 

Check out these free tax-planning resources:

 

Beacon Retirement Strategies Radio Show:

 

Retirement Talk YouTube Show:

 

Beacon Capital Management Article:

 

Free Retirement Savings Calculator:

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