Episode #27: Tax-Deferred Troubles


The Principle:

Tax-deferred accounts are great investing tools, but you have to be careful with them lest you upset Uncle Sam. Brian explains.

(Click the featured times below to jump forward in the episode)

Honest Takes:

[00:15] – Be Careful With Your Tax-deferred Accounts.  

  • You can’t escape Uncle Sam forever. When you invest in a tax-deferred account, you’ll eventually have to pay taxes on your gains. If you haven’t planned carefully, you could land yourself a hefty tax bill.

[00:30] – Disorganization Is A Problem.  

  • We meet with several folks who have money in all sorts of accounts. While they have a CPA to help them file their taxes, they don’t typically have someone to help them get organized and engage in preemptive tax planning.

[00:53] – Your Tax-Deferred Accounts Can Affect Social Security. 

  • The more you withdraw from your tax-deferred accounts, the more Uncle Sam is able to tax your Social Security benefits. The government considers withdrawals from tax-deferred accounts to be income. Furthermore they’re able to tax your Social Security benefit more depending upon your level of income.

[3:03] – A Quick Aside on Tim Tebow And The Importance Of Charitable Giving.

  • Brian shares a recent interview with Tim Tebow and discusses the important of giving back.

Today’s Truth:

Other Virtues:

The host: Brian Bowen – Contact

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