Skip to main content

Reducing Retirement Taxes with a LIRP.


What's a LIRP and how could it help you pay less taxes in retirement? On this episode of The Vault with The Wealth Guardians, Doug Ray and Brice Payne break down the benefits. _____________________ The information provided is for educational purposes only and are not intended as investment advice for any individual or entity. All information contained herein is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The views presented today are those of Wealth Guardians and do not necessarily represent the views of the Alphastar Capital Management. The opinions expressed are subject to change without notice and do not constitute financial, legal or tax advice. Any comments regarding safe and secure investments and guaranteed income refer only to fixed insurance products offered by Wealth Guardians. They do not refer in any way to securities or investment advisory products. Please consult your financial professional before executing any financial strategy. Investment Advisory Services offered through Alphastar Capital Management, a registered investment adviser. Alphastar and Wealth Guardians are independent entities. The Wealth Guardians 704-248-8549 336-391-3409...(read more)


LEARN MORE ABOUT: Qualified Retirement Plans
REVEALED: How To Invest During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Retirement is the time when one wants to relax and enjoy the fruits of their labor. However, paying taxes can be a significant financial burden during these years. Luckily, there is a solution to minimize the tax burden in retirement – a LIRP (Life Insurance Retirement Plan). A LIRP is a combination of a life insurance policy and a retirement plan. It offers tax-free growth and income, making it an attractive option for those looking to reduce their tax liability in retirement. Let's find out how a LIRP can help you pay fewer taxes in retirement. Tax-Free Income One of the most significant benefits of a LIRP is the tax-free income it offers. When you take money out of a LIRP, you don't have to pay any taxes on it. This means you can enjoy your hard-earned money without worrying about losing a portion of it to taxes. Tax-Free Growth Another advantage of a LIRP is the tax-free growth. The money in a LIRP grows tax-free, meaning any gains you make on your investments remain untouched by the taxman. This is particularly advantageous if you're in a high tax bracket or if the tax rates go up during your retirement years. No Contribution Limits Unlike traditional retirement accounts like IRAs and 401(k)s that have contribution limits, a LIRP has no such limits. This means you can contribute as much as you want without worrying about exceeding the contribution limits. The more you contribute, the more tax-free income and growth you will receive in retirement. No Required Minimum Distributions Traditional retirement accounts like IRAs and 401(k)s mandate that you take required minimum distributions (RMDs) once you turn 72. Failure to do so will result in a penalty. However, LIRPs do not have any such requirements, giving you more flexibility in planning your retirement income. Estate Planning Benefits Lastly, a LIRP can also offer estate planning benefits. The death benefit of a LIRP is tax-free, meaning your beneficiaries will not have to pay any taxes on the money they receive. Plus, it provides a way to transfer wealth tax-free to your heirs. In conclusion, a LIRP is an excellent way to reduce your tax liability in retirement. It offers tax-free growth, tax-free income, no contribution limits, no RMDs, and estate planning benefits. However, it's crucial to work with a financial advisor to determine if a LIRP is the right option for your retirement. https://inflationprotection.org/reducing-retirement-taxes-with-a-lirp/?feed_id=85618&_unique_id=6430cbd0d6ac3 #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #Charlotte #Clemmons #Finance #financialadvisor #ira #NC #NorthCarolina #Retirement #retirementplanning #Stocks #TheWealthGuardians #WealthGuardians #WealthGuardiansRadioShow #QualifiedRetirementPlan #401k #Charlotte #Clemmons #Finance #financialadvisor #ira #NC #NorthCarolina #Retirement #retirementplanning #Stocks #TheWealthGuardians #WealthGuardians #WealthGuardiansRadioShow
Labels:

Comments

Post a Comment

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for ...
Post a Comment
Read more

Birch Gold Group Review 2023 – Best Gold IRA Company? Pros and Cons

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. See chapters in the description. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Chapters: 0:00 - Intro 0:26 - Is Gold a Good Investment? 1:03 - What is Birch Gold Group? 1:37 - IRA Eligible Coins 1:59 - Is Birch Gold Group a Legitimate Company? 2:50 - How Does Birch Gold Group Work? 3:34 - Birch Gold Group’s Fees and Investment Options 4:02 - Birch Gold Group Low Minimum Investment 4:29 - Birch Gold Group Storage and Security 5:34 - Con #1 – No Overseas Storage Options 5:49 - Con #2 – Initial Setup Fees 6:02 - Birch Gold Group Review Summary Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch...
Post a Comment
Read more