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Tax Minimization Strategies

Rising taxes may be a concern for many individuals approaching retirement. It may be important to incorporate tax planning into your financial decisions.

Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, deferring income taxes income taxes and providing the potential to earn interest at a faster rate. Few financial vehicles avoid taxes altogether. Insurance products only allow you to defer paying them until retirement – when you may be in a lower tax bracket.

Please note that withdrawals will reduce the contract value and the value of any protection benefits.  Additional withdrawals taken within the contract withdrawal charge schedule will be subject to a withdrawal charge.  All withdrawals are subject to ordinary income tax and, if taken prior to 59½, may be subject to a 10 percent federal additional tax.

Your investment advisor is not permitted to offer, and no statement contained herein shall constitute, tax, legal or accounting advice. You should consult a legal or tax professional on any such matters.