Tax-Efficient Strategies

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 Tax-deferred vehicles only allow you to defer paying income taxes until the money is withdrawn — presumably during retirement when you may be in a lower tax bracket.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designed to help individuals work toward specific long-term goals, there may be restrictions on when money can be withdrawn without penalty.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 an additional 10 percent federal 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.

CONTACT

MAIN

FINANCIAL

GROUP

Main Financial Group

2120 Grand River Annex, Suite 700
Brighton, MI 48114

Phone: 248​-347-MAIN(6246)

Fax: (810) 588-4567

info@MainFinancialGroup.com

 

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© 2020 Main Financial Group, LLC.

 

Jordan D. Main & Adam R. Freund offer Investment Advisory Services through Gradient Advisors, LLC (Arden Hills, MN 877‐885‐0508), an SEC Registered
Investment Advisor. Gradient Advisors, LLC and its advisors do not render tax, legal, or accounting advice. Main Financial Group is not a registered investment advisor and is not an affiliate of Gradient Advisors, LLC. Insurance products and services are offered through Jordan D. Main & Adam R. Freund, independent agents.


Main Financial Group, Jordan D. Main, Adam R. Freund and Gradient Advisors, LLC are not affiliated with or endorsed by the Social Security Administration or any government agency.

 

All written content on this site is for information purposes only. Opinions expressed herein are solely those of Jordan D. Main, Adam R. Freund, and our editorial staff.


The presence of this website shall in no way be construed or interpreted as a solicitation to sell or offer to sell investment advisory services to any residents of any State other than

the State(s) Jordan D. Main & Adam R. Freund are registered or where otherwise legally permitted. Material presented is believed to be from reliable sources;

however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual adviser prior

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