Tax-Free Retirement
Looking back I was told that it was a fantastic idea to put money in a 401k. I would be saving on taxes. I would be saving for retirement.
The thing I didn’t understand was the tax man is inevitable. At some point I would have to pay taxes. That would be at a very bad point in time, when I need the money the most, at retirement.
So I would not pay taxes on the money I put in, but after the money grows for many years, I would pay taxes on the entire growth. The tax man would get a lot more money later.
What if I can save a small amount of money (though after tax) and made a huge amount and not have to pay taxes?
What if I want/need the money sooner than retirement?
What if this would also protect my family?
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