🪣October is Financial Planning Month🪣
Understanding how your 💵 money is taxed can make a HUGE difference in your financial journey.
Let’s break down the 3️⃣ tax buckets:
🪣 Taxable (Taxed Now):
Think bank savings, stocks, bonds, and mutual funds. You pay taxes on these as you earn. 💸
🪣 Tax Deferred (Taxed Later):
401(k)s, Traditional IRAs, and annuities fit here. Pay taxes when you withdraw—perfect for long-term growth! ⏳
🪣 Tax-Free (Never Taxed Again):
Roth IRAs, municipal bonds, and life insurance with cash value (IUL) provide opportunities for tax-free growth! 💵
Planning where your money goes means planning for a better future. Let’s set up a strategy that works best for YOU! 🤝✨
hughesfamilyfinancial@gmail.com
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