Saturday, September 24, 2011

Taxes and the Effects of your Retirement Cash

The traditional advice is to buy inexpensive life insurance, and invest in your 401k plan. The rationale behind this methodology is to cut costs in the insurance, and transfer that cost as a potential benefit into one's 401k plan. Next, the 401k plan allows one to save money on their tax liability on the front side during the contribution years. What happens after 59 1/2? How are taxes handled at that point? In this video, Doug Andrew discusses the effects of Taxes on your 401k plan after 59 1/2. The information is shocking and revealing.

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