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Utilize taxfree resources for retirement from "summary" of The Power of Zero, Revised and Updated by David McKnight
One of the key concepts discussed throughout "The Power of Zero, Revised and Updated" is the idea of using tax-free resources to fund your retirement. By strategically utilizing tax-free accounts such as Roth IRAs or cash value life insurance, you can minimize the impact of taxes on your retirement income. This can be particularly beneficial in a rising tax rate environment, as it allows you to shield your savings from future tax increases. One of the main advantages of tax-free retirement accounts is that they provide you with a source of income that is not subject to taxation. This means that you can withdraw money from these accounts during retirement without having to worry about paying taxes on the distributions. This can be especially valuable if you expect to be in a higher tax bracket in retirement than you are currently, as it ...
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