Bank On Yourself Tax Advantages

UPDATED APRIL 2014

You’ve probably heard the old joke about the guy who hears a knock on his door, opens it, and there’s a man who says…

I’m from the IRS and I’m here to help you!”

Well, there are times when the IRS is trying to help you… and when it comes to the Bank On Yourself method, there are at least five ways they do that.

With the caveat that I’m not a CPA or accountant, nor have I ever played one on TV, here are five ways Bank On Yourself could save you thousands or even hundreds of thousands of dollars in taxes over your lifetime…

Bank On Yourself Tax Advantage #1:  Retirement Savings Withdrawals

Many people love saving for retirement in tax-deferred accounts like 401(k)’s, IRA’s, Profit Sharing plans and so on.  But what direction do you think tax rates will go over the long term? [Read more...]