đĒŖOctober is Financial Planning MonthđĒŖ
Understanding how your đĩ money is taxed can make a HUGE difference in your financial journey.
Letâs break down the 3ī¸âŖ tax buckets:
đĒŖ Taxable (Taxed Now):
Think bank savings, stocks, bonds, and mutual funds. You pay taxes on these as you earn. đ¸
đĒŖ Tax Deferred (Taxed Later):
401(k)s, Traditional IRAs, and annuities fit here. Pay taxes when you withdrawâperfect for long-term growth! âŗ
đĒŖ Tax-Free (Never Taxed Again):
Roth IRAs, municipal bonds, and life insurance with cash value (IUL) provide opportunities for tax-free growth! đĩ
Planning where your money goes means planning for a better future. Letâs set up a strategy that works best for YOU! đ¤â¨
hughesfamilyfinancial@gmail.com
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