248-385-2385
248-385-2385
248-385-2385 Rising taxes may be a concern for anyone — especially for individuals approaching retirement. Having a solid strategy in place for how you will pay taxes on your retirement income can be an important component to living on a fixed income and avoiding surprises come tax time.
Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, without paying current income taxes, potentially allowing it to earn interest at a faster rate. Tax-deferred vehicles only allow you to defer paying income taxes until the money is withdrawn — presumably during retirement when you may be in a lower tax bracket. However, few financial vehicles avoid taxes altogether.
Because tax-deferred vehicles are generally designed to help individuals work toward specific long-term goals, there may be restrictions on when money can be withdrawn without penalty. Early withdrawals may be subject to charges and fees. Withdrawals prior to age 59 ½ may be subject to a 10 percent federal additional tax.
Our firm is not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. You should consult a legal or tax professional on any such matters.
It is important to feel you have control over your future. At Wealth Trac Financial, we offer our experience and knowledge to design a specific plan of action that helps you work toward your financial future.
To schedule a time to discuss your financial future and the possible role of insurance or investment products in your financial strategy, contact us at info@wealthtracfinancial.com or call us at 248-385-2385 today!
It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.
Privacy Policy | Terms of Use
We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.
Kurt Fillmore and Avery Markos are investment advisory representatives of, and provide advisory services through CoreCap Advisors, LLC. Wealth Trac Financial and CoreCap Advisors are separate and unaffiliated entities.
The content of this website is developed from sources believed to be accurate and complete; however, no guarantee can or is given for such accuracy or completeness. Nor is the information in this material intended as financial, tax or investment advice. Please consult a qualified professional for specific information regarding your induvial situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale, or the solicitation of such an offer, of any security, insurance, or annuity product.
Links to third-party websites are being provided for informational purposes only. CoreCap is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. CoreCap is not responsible for the content of any third-party websites or the collection or use of information regarding any website users and/or members.