E141: Beware these Huge Tax Planning Pitfalls and What You Need Do Instead
Dollars and Nonsense · Living Wealth
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Show Notes
In this episode, we discuss the main misconception about tax planning using qualified retirement programs. We also explain why it is one of our biggest pet peeves when meeting with clients or accountants.
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Topics Discussed:
- The biggest misconception about tax-qualified programs
- What accounts get wrong or confuse clients about when it comes to tax planning pitfalls
- How to determine when a tax deduction is actually a tax deferral, and why that matters
- The opportunity loss of putting your money in "tax jail"
- The mirage effect of tax deferral products and concepts
- Critically thinking about how future tax rates will impact your retirement savings
- How these tax planning pitfalls impact business owners
Episode Resources:
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* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/
* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/