The importance of Retirement PlanningAll Articles
Early last month, The Plan Sponsor Council of America (PSCA) released results of a survey that intended to get people’s thoughts on a new tax preference for retirement savings plans.
So what does this mean?
This new plan would include reducing or eliminating pre-tax contributions to raise tax revenues and offset losses in tax receipts from lowering marginal income tax rates.
The survey found that more than 90 percent of respondents indicated that they agree that eliminating or reducing pre-tax contributions to retirement savings plans is a bad idea.
These proposals could impact millions of Americans that participate in tax-qualified retirement savings programs.
Strategic retirement planning is important and it’s never too early to start. Here at BIG, we can help you prepare for your future as well as for tax reforms. Looking ahead at future expenses is the first step to preparing for retirement. This will allow you to be ready for whatever expenses are to come and not let the cost of retirement or reforms get in your way.
Most importantly, you can work with us to create strategies to not only preserve but help grow your retirement balances while determining your spending amounts.
Tax reforms can come and go but your retirement savings should stay the same. Work with us now and we can ensure a successful financial future.