Anthony (Tony) Winkels holds an MBA from The Wharton School of the University of Pennsylvania, and is Managing Partner at Fortis Wealth Management

Protecting Retirement Assets in a Tax Shelter

Protecting Retirement Assets in a Tax Shelter

Anthony Tony Winkels Protecting Retirement Assets

Retirement accounts like a Traditional IRA or a Roth IRA can give an immense boost to an investor’s savings by taking advantage of provisions that protect capital gains, dividends, and interest earned from the depleting effect of taxes.  In the case of Roth IRAs and Roth 401(k) accounts, these benefits extend to tax-free qualified withdrawals.  The tax advantages of retirement accounts can account for a significant portion of an individual’s wealth by the time he or she retires, particularly if the individual starts investing early and makes the maximum allowable annual contributions.  While the recent CARES Act has made it easier to withdraw assets without excessive penalty, an investor may want to avoid withdrawing funds early and missing out on the immense benefit offered by these tax shelters, unless the withdrawal is absolutely necessary for immediate cash flow needs.

 

Read more on this subject here: https://www.forbes.com/sites/megangorman/2020/04/07/financial-relief-from-your-retirement-plan-should-be-the-option-of-last-resort/?ss=wealth-management#78346900255f

Investing in Individual Companies: Earnings Reports

Investing in Individual Companies: Earnings Reports

Diversifying a Portfolio with Real Estate Investments

Diversifying a Portfolio with Real Estate Investments