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Retirement accounts offer taxdeferred growth and potential tax savings from "summary" of Tax-free Wealth by Tom Wheelwright
When you contribute to a retirement account, such as a 401(k) or an IRA, you are essentially putting your money into a tax-advantaged vehicle. This means that the growth on your investments within the account is tax-deferred. In other words, you don't have to pay taxes on the gains each year, unlike with a regular investment account. This tax-deferred growth can have a significant impact on your retirement savings over time. Since you are not paying taxes on the gains each year, your money can compound and grow at a faster rate. This can result in a larger nest egg for you to enjoy in retirement. Furthermore, contributing to a retire...
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