How do I set up a tax-free retirement plan?
In the Video above, Scott Farnsworth, Central Florida's Tax-Free Retirement Expert answers a frequently asked question: How do I set up a tax-free retirement plan?
"The key is to have a plan and to work with a knowledgeable professional. It needs to be somebody who understands taxes, who understands investments, who understands social security, who understands what life is like in retirement, and then who has the expertise to focus you on using tax free vehicles as opposed to taxable vehicles. The taxable vehicles are 401(k)’s and conventional IRA's.
The tax-free vehicles are Roth IRA's and my favorite, the TRA, the tax free retirement account. The more money we can put into a tax free posture, the more likely we can create a tax free retirement for you. On the other hand, if you've got too much money in a 401(k) or conventional IRA, it's going to be difficult. They're things we can do, but it's more of a challenge."