We are bombarded with
messages on how great a 401(k) plan is for helping your retirement. You have a nice deduction up front and monies
accumulate tax-deferred. BUT when you
withdraw your money, you have a partner with the IRS!
Want to know of a plan
that allows you to withdraw money TAX-FREE?! There is such a plan and it’s called the
401(H). You are allowed your normal
deductions, the monies still grow tax-deferred BUT when you withdraw monies, it
is totally tax-free.
There is one requirement.
The withdrawals in a 401(H) have to be for medical purposes. So if you think you will need some special medical
treatment, surgery or any other medical treatment, this may be a good option as
part of your retirement package.
So talk with your
physician, then talk to me and we can all map a plan that meets your objectives
and best interests.