The Shocking Truth About Your IRA…Its NOT What You Think It Is!!

Just south of ‘Sawmill Creek…..

Hi Attorney Kevin Pritchett here
Do You Know What Your IRA/401k/403b REALLY Is?
   You probably believe what you’ve been told…that your Qualified Retirement Accounts are a great way for you to save for your retirement….yes and no.

    What you probably DON’T know (unless you’re my client already or attended one of my seminars)is :
“Your IRA/401k/403b (IRA for short)
is a way for the IRS to force you to pay them tax!!!

The Required Minimum Distribution (RMD)
Every retirement account grows money tax deferred.
If you withdraw IRA money before age 59 1/2 you must pay a stiff tax penalty PLUS any amount you take out is taxed as ordinary income.

    And when you reach age 70 1/2 there is a requirement called the REQUIRED MINIMUM DISTRIBUTION (RMD) which REQUIRES you to take money out of your IRA whether you need or want to or not!!

    This is where the IRS springs its TAX TRAP. As I’ve explained in previous newsletters…the IRS would MUCH rather get tax on the growth of your money…and they GUARANTEE THEMSELVES of a cut of your money by REQUIRING YOU TAKE THE MONEY OUT WHETHER YOU WANT TO OR NOT!!

There are proven strategies that can avoid
or at the least mitigate this tax trap…but only if you know them and apply them in time.

Reach Out To Me If You Have Questions.
If you have comments or questions about any of this…send me an email :ironkop@gmailcomor if reading on my blog or Facebook page leave your questions or comments below.

Remember…..
“Things Don’t Get Better With Neglect…..”

Kevin Pritchett, Esq
Law Office of Kevin Pritchett, Inc.312-505-1957ironkop@gmail.com
www.KevinPLaw.com