Imagine that you are financing the purchase of a home. You get to the closing table, and upon review of the loan documents, you notice that the interest rate and the amount that you're required to pay back to the lender are left blank.
How would you react if the lender said, "Don't worry about it, we'll figure that out later. We're just going to put a lien on your house, and we'll let you know what the payback terms are at some later day." How many of you would sign those loan documents? Zero! But, that's the deal that you're making from the IRS when you make contributions to an IRA or a 401(k). You get a tax deduction now, that must be paid later, in retirement. The terms of which are unknown.
Join your host Dennis Tubbergen on this week’s Special Edition of Retirement Lifestyle Advocates radio. Dennis explains how many were misinformed about contributing to IRA’s and 401(k), and how you might benefit by divorcing yourself from the IRS.
You can get a free copy of Dennis’s newly updated book “Can you Divorce Yourself from the IRS?” at www.DivorceTheIRSBook.com and a copy of this month’s Special Report “Are We Rocketing Toward Reset?” at www.RequestYourReportNow.com.