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The average American contributes to their 401(k) for their retirement, thinking theyre good to live on that money later BUT most people don’t understand how it works or what comes w| having one. Here is a quick video highlighting a few of the red flags I noticed about 401K plans. Watch until the end and I will give you an alternative to that account. It’s something called a fixed indexed annuity, which is the best kept retirement secret 🙃 ##401k##retirement##retiring##403b##tsp##retirementhelp#
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How pensions work: explaining how to access them, and the different income types between annuity, drawdown and lump sums 📈💸 #pensionannuity #annuity #flexiaccessdrawdown #drawdown #pensiondrawdown #ufpls #pensionlumpsum #pcls #taxfreecash #howpensionswork
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I share exactly how the one percenters use life insurance and annuities to their benefit. We compare two investment options: Option A involves investing $1 million at 5% annually ($50,000/year) into an endowment, resulting in a guaranteed cash surrender value of $1.4 million by age 65 with a total gain of $487,Option B uses $500,000 at 5% annually ($25,000/year) to purchase an endowment worth $701,810 in life insurance, with a total gain of $226,The key principle is that the wealthy place money
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Replying to @alan Thinking about cashing in your entire pension? 🚨 Before you do, here’s how pension tax works and why this decision needs thought. When you fully cash in a defined contribution pension, the first 25% is usually tax-free. This is known as your Pension Commencement Lump Sum. That sounds great, but it’s only part of the story. The remaining 75% is added to your income for that tax year and taxed at your highest marginal rate. That means it could be taxed at 20%, 40%, or even 45%,
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magicmoneytips
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