You Sunk My Retirement! Photo by Rick Bennett
“What?! The IRS can take nearly 50% of my Retirement Fund in taxes?! How am I supposed to live on only half of my savings? With taxes like this, how can I ever retire, let alone early?”
There is a dangerous nuance in the US Tax Code code that is going to sink and destroy your retirement! There is nothing you can do when the Tax Torpedo strikes, taking nearly half of your income with it!
Sounds ominous, doesn’t it?
This is your Money. This is your Money on a Roth
I recently shared some thoughts on how to become Financially Independent in the shortest possible time by leveraging tax advantaged accounts such as the 401k, 403b, HSA, and Traditional IRA. Taking advantage of all possible tax deductions Today is a great way to Turbocharge Your Savings, accelerating Financial Independence by years
I even made some disparaging remarks about the Roth IRA. Some reader’s pushed back, which is always a good thing.
I will explain the reasons that I believe the Roth 401k and IRA are the least advantageous investment choices. Furthermore, I will provide an overall recommendation for where to save for Financial Independence
Now that is a turbocharger!
I’m not going to lie, being financially independent is nice. It enables choice and opportunity. We can choose to earn an income, or not. We can choose to remain in one location, or not. We can pretty much choose to do anything we want, when we want, and how we want.
In fact, I’m pretty sure there is only one thing better than being financially independent: Being financially independent SOONER!
How would you like to accelerate your savings, becoming financially independent years ahead of schedule? What if you could do this without saving even 1 extra dollar? Not one!
Let’s Turbocharge your Savings!
