Last week I celebrated my 70th birthday, and five years of retirement. When I reached my sixties, I wasn't sure if retiring at 65 (or even 70, for that matter) would be a possibility for me. I had spent my whole life saving up for retirement, but considering the shape the economy was in, it was not looking very promising. But thankfully I spoke to someone who gave me great advice and suggested a tax deferral.
Not everyone is familiar with the concept of what a tax deferral is (neither was I when I first heard the term), so I will fill you in real quick. A tax deferral is basically just a way for someone to delay paying their taxes until a later time. It was part of this No Load Variable Annuity that was a significant in helping me out with my Personal Retirement Savings.
As important as the tax deferral was, I don't think I could have gotten on the right track to retirement without utilizing all parts of the No Load Variable Annuity. After saving money through the deferral, it also provided me with solid investment choices. So I was able to use the money I saved through my tax deferral and make quality investments.
Another thing I should mention is how well the No Load Variable Annuity worked with the Savings2Income plan of turning savings into Guaranteed Income. Thankfully, I didn't have to depend solely on tax deferrals to save money, and I was much better off in the end.
There is no doubt that the plan I used was the best in my course to retirement. But everyone should research all of their options and choose the best method for them. That being said, definitely check out the Savings2Income method, if you have half the luck I did, you will be a very happy retiree.
Not everyone is familiar with the concept of what a tax deferral is (neither was I when I first heard the term), so I will fill you in real quick. A tax deferral is basically just a way for someone to delay paying their taxes until a later time. It was part of this No Load Variable Annuity that was a significant in helping me out with my Personal Retirement Savings.
As important as the tax deferral was, I don't think I could have gotten on the right track to retirement without utilizing all parts of the No Load Variable Annuity. After saving money through the deferral, it also provided me with solid investment choices. So I was able to use the money I saved through my tax deferral and make quality investments.
Another thing I should mention is how well the No Load Variable Annuity worked with the Savings2Income plan of turning savings into Guaranteed Income. Thankfully, I didn't have to depend solely on tax deferrals to save money, and I was much better off in the end.
There is no doubt that the plan I used was the best in my course to retirement. But everyone should research all of their options and choose the best method for them. That being said, definitely check out the Savings2Income method, if you have half the luck I did, you will be a very happy retiree.
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