Ask Paula: My Income Is Dropping From $190,000 to $40,000; What Should I Do?
Afford Anything
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The Tax Triangle Paula
In the lower right, this is where money goes in pre tax when you're saving it. And then when you pull it out in retirement in the middle, you pass through this portal to spend it and pay tax on it. So that's the lower right for a lot of people, specially older people. In the top left, we have no great tax treatment, but supreme flexibility. The two most important things are: 1) To diversify your assets so they don't get taxed as much; 2), to keep them from getting into trouble by making bad decisions with their investments or taking too many risks at once.
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