Life insurance based strategies for retirement could benefit from Obama IRA cap

Annuities retirement strategy pennsylvania insurance commissioner

This type of planning could become more advantageous if the President’s plan moves forward. Retirement planning strategies based on life insurance could receive a considerable boost if the pitch that President Obama has made to cap IRAs at $3.4 million is able to move forward. Individuals who have a large amount of money within their retirement accounts could benefit most. The reason is that those individuals would be able to withdraw funds from those accounts, pay the taxes that would be applicable to having made the withdrawal, and then purchase…

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