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Unlike retirement accounts, there are no federal contribution limits for variable annuities, and the investment gains won’t be taxed until they are withdrawn.
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In addition to advancing philanthropic goals, strategic charitable donations may offer tax advantages.
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High earners may not be eligible to contribute to a Roth IRA, but some people can use a workplace plan to save more and create a source of tax-free retirement income.
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Holding stocks in companies of varied sizes through mutual funds or exchange-traded funds could help increase portfolio diversification.