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Victory Wealth Services, LLC. | Financial and Retirement Planning | Prescott, Arizona

Victory Wealth Services, LLC. | Financial and Retirement Planning | Prescott, Arizona

Premier Financial, Retirement, Insurance, and Investment Planning Services Firm Prescott, AZ

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Local: (928) 778-1050
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Tax-Efficient Strategies

If taxes rise in the future, will it cut into your retirement savings?

Rising taxes may be a concern for anyone — especially for individuals approaching retirement. Having a solid strategy in place for how you will pay taxes on your retirement income can be an important component to living on a fixed income and avoiding surprises come tax time.

Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, without paying current income taxes, potentially allowing it to earn interest at a faster rate. Tax-deferred vehicles only allow you to defer paying income taxes until the money is withdrawn — presumably during retirement when you may be in a lower tax bracket. However, few financial vehicles avoid taxes altogether.

Because tax-deferred vehicles are generally designed to help individuals work toward specific long-term goals, there may be restrictions on when money can be withdrawn without penalty. Early withdrawals may be subject to charges and fees. Withdrawals prior to age 59 ½ may be subject to a 10 percent federal additional tax.1

Strategies for Financial Independence

To schedule a time to discuss your financial future and the possible role of insurance or investment products in your financial strategy, contact us by email or call us at (928) 778-1050 today!


1Our firm is not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. You should consult a legal or tax professional on any such matters.

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Victory Wealth Services is a trade name used by Victory Wealth Services, LLC. and Victory Insurance and Financial Services, LLC. We are an independent financial services firm helping individuals create financial strategies using a variety of investment, insurance products, and services to custom suit their needs and objectives.

 

Securities and investment advisory services are offered through Victory Wealth Services, LLC. a registered investment advisor. Annuities and insurance products are provided by various insurance companies and offered through Victory Insurance and Financial Services, LLC., a licensed insurance agency, doing business as Victory Wealth Services in Arizona. Product and feature availability may vary by state. For background information, please visit: www.BrokerCheck.com.

 

Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.

 

Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products or services. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges, and holding periods which vary by insurance company. Annuities are not FDIC insured.

 

• Not FDIC insured • May lose value • No bank or credit union guarantee • Not a deposit • Not insured by any federal government agency or NCUA/NCUSIF

 

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