๐ชฃOctober is Financial Planning Month๐ชฃ
Understanding how your ๐ต money is taxed can make a HUGE difference in your financial journey.
Letโs break down the 3๏ธโฃ tax buckets:
๐ชฃ Taxable (Taxed Now):
Think bank savings, stocks, bonds, and mutual funds. You pay taxes on these as you earn. ๐ธ
๐ชฃ Tax Deferred (Taxed Later):
401(k)s, Traditional IRAs, and annuities fit here. Pay taxes when you withdrawโperfect for long-term growth! โณ
๐ชฃ Tax-Free (Never Taxed Again):
Roth IRAs, municipal bonds, and life insurance with cash value (IUL) provide opportunities for tax-free growth! ๐ต
Planning where your money goes means planning for a better future. Letโs set up a strategy that works best for YOU! ๐คโจ
hughesfamilyfinancial@gmail.com
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