The Tax-Wise Method

Do you think tax rates will increase or decrease in the future? Have you thought about the impact that taxes will have to your retirement plan? Tax rates are currently at historically low levels, and given the current economic environment, there is some suggestion that they may be higher when you retire. Do you want to pay taxes now, or later when taxes may be higher?

Tax-diversifying your retirement savings might be sensible. I know you want to save more for retirement, but IRS rules limit your ability to save as much as you would like through your 401(k) and IRA. 30 years ago, tax rates were so high and there were so many tax brackets, deferring income generally reduced the tax burden. In the new tax reality, the tax leverage benefits of deferring may not exist. Lower tax rates and fewer tax brackets today call for a smarter strategy.

Our Tax Wise process addresses this very issue. After all it is not only about how much you’ve been able to save over the years or how high was your rate of return, but more importantly what was the true value after Uncle Sam has taken out his share.

*The Bridge Group and its affiliates do not provide tax and legal advice. For advice in such matters consul your own professional counsel.

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