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If You Had a Million Dollar Idea, Could You Fund It?

Insights, Life Insurance, Roth IRA

Where do you go when you need to access money? I think it is paramount in any great financial plan that you proactively think about “access.”

Some locations are not efficient (401k, Traditional IRA, or Annuities) because taxes or penalties may apply.

Popular locations to access funds include:

1️⃣         Roth IRA Basis

2️⃣         Cash Value Life Insurance

3️⃣         Collateralized After-Tax Investment Account

4️⃣         Your Home (Home Equity Line of Credit)

Before saving, remember the acronym T.A.G. (tax efficient, access, & growth).  Always make sure you know how to access money in the most tax efficient way.

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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Consult your financial professional before making any investment decision concerning your particular circumstances.

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