Retire With Purpose - The Retirement Podcast 456: Retirement Tax Planning: Should You Max Out Your 401(K)?
What is the most effective way for you to save money for retirement? While traditionally, many have turned to accumulating wealth in their 401(k), the caveat comes in the form of taxes due.
In this episode, we discuss:
- Why it's important to diversify your savings buckets
- The capital gains tax rate
- How to save for retirement amidst tax rate uncertainty
- Marginal vs. effective tax rates
Today's article comes from Of Dollars And Data titled, Nothing is Certain Except Debt and Taxes. Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation.
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Show Notes: Howardbailey.com/456
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ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process