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3. Invest For Retirement

Participating in a tax-deferred retirement plan

Contributions can be made before taxes are taken out of your paycheck

This reduces the current amount of taxes you pay on your income, since you’re paying taxes on a smaller amount of money

You pay no taxes on the money you contribute or any gains until you withdraw it from the retirement plan

Retirement assets will be taxed upon withdrawal and there may be a 10% IRS penalty for withdrawals made prior to age 59½

You may be eligible to take a tax credit (a.k.a. the Saver’s Credit)1

1Source: Internal Revenue Service, www.irs.gov. This information is not intended to provide tax or legal advice and should not be relied upon as such. Any specific tax or legal questions concerning the matters described in this slide should be discussed with your tax or legal advisor. Neither DWS Retirement Services nor ADP, Inc. gives tax or legal advice.

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