Columbia Basin, Ephrata, WA | David - 11/24/2022 19:42
His advice isn’t only about annuities and life insurance. It is part of a plan. Those tools are part of the toolbox.
But, again, you are never wrong. I guess that’s how narcissists are.
Was Yogi wrong too? He’s the one that originally brought up the potential pitfall of deferring income beyond when we know what tax brackets will be. Both him and coup have a point, we have historically favorable tax brackets right now and there is risk in deferring income beyond when those brackets are fixed. With government policy pretty well guaranteeing inflation and/or increased taxation in the future, it may be prudent to defer taxes in a way that the income could be claimed and taxes paid on short notice if a tax bracket hike is on the horizon. People with assets might be shocked at what bracket they find themselves in someday.
Everyones so busy with the pissing match over “performance” (which isn’t known yet anyway, since we don’t know what tax brackets people will be paying in the future) that the original valid point from Yogi has hardly been discussed.
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If you had a million in cash today...
