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025: How a 10% Tax Increase Leads To 70% More Tax
In this podcast, Mike shares how a 10% increase in tax rates can lead to owing 70% more tax on the same income. This is a wake up call to those of you who both have money in retirement accounts like 401k and IRA. If you believe tax rates will increase in the future (as many do), then you will want to listen in closely to this discussion. Your best is yet to come! So sit back, relax, and listen to Retirement Today.
WITH MICHAEL D. REESE, CFP®
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Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. This show is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Centennial Advisors, LLC is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Centennial Advisors, LLC.
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By Michael ReeseIn this podcast, Mike shares how a 10% increase in tax rates can lead to owing 70% more tax on the same income. This is a wake up call to those of you who both have money in retirement accounts like 401k and IRA. If you believe tax rates will increase in the future (as many do), then you will want to listen in closely to this discussion. Your best is yet to come! So sit back, relax, and listen to Retirement Today.
WITH MICHAEL D. REESE, CFP®
Facebook // Instagram // LinkedIn // Pinterest // Twitter // Website // YouTube
Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. This show is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Centennial Advisors, LLC is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Centennial Advisors, LLC.