Wow! Imagine for a moment if you could deduct massive amounts of money each year for your retirement instead of just the measly 401k amounts. Imagine if you could put back your hard earned money before taxes to the tune of $250,000 per year or more or even $450,000! You could literally create your entire retirement income in just a few years versus thirty years in the 401k only plan.
What was thought impossible is now possible! The plan is called the 412(e)(3) defined benefit plan. If you have a high amount of discretionary funds that would be available for your retirement planning then consider this plan very seriously.
It creates a guaranteed income stream that is inheritable in full to your spouse or family. You won't have to worry about market volatility or how much money you lost today. You will not have to worry about your income generating assets; guaranteed annuities and life insurance are used to fund the plan.
Then when you pass away, a massive life insurance policy pays out. If you already have a life insurance policy, you might be able to cancel it as well because of the coverage build into the plan. You can also keep your current retirement plan going and retire even faster. Sound good so far?
If you want to learn more then be sure to read the new article - 412(e)(3) The Best Of Both Worlds- Annuities and Defined Benefits
Image by Tax Credits at Flickr.com
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