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Longterm benefits of tax-free retirement income from "summary" of The Power of Zero, Revised and Updated by David McKnight
One of the most powerful concepts in retirement planning is the idea of generating tax-free income during retirement. Many people fail to realize the tremendous impact that taxes can have on their retirement savings over time. By understanding and implementing strategies to create tax-free income in retirement, individuals can potentially save thousands, if not millions, of dollars in taxes. When you contribute to a traditional retirement account, such as a 401(k) or IRA, you receive a tax deduction in the year of contribution. This can be very appealing to individuals looking to lower their current tax bill. However, the downside to ...
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