Updated : Aug 31, 2019 in Articles

What Retirement Plans Offer Tax Benefits?

This is Catherine Magaña with your Savvy Minute. Today I will give you another easy way tip
for you to get Savvy about your finances. Today’s tip will cover “What retirement
plans offer tax benefits?” Well, there are many different types of retirement
plans that offer tax benefits available to you with different rules about contributions
and distributions. Some retirement plans are sponsored by employers
while others are not. Some of you may want to consider
a 401K, a SEP IRA, a 403b, a Simple IRA, a Profit Sharing Plan, a Traditional IRA or a Roth IRA. It’s possible to have different types of
retirement accounts that offer tax benefits. For instance, if your employer offers a 401K,
you can still open an IRA. Depending on your income level, you may want
to consider a Roth or Traditional IRA and if you are eligible to deduct those contributions. For your specific tax related questions consult
with a tax adviser Join us each week for the Savvy Minute. You can find us at SavvyUp.tv. That’s SavvyUp.tv. Or you can give us a call at 760-692-5700 and set up a free 30-minute financial assessment today. And remember… Savvy Up!!

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