Unraveling Tax Jargon: Making Sense of Tax-Exempt, Tax-Deferred, and Tax-Deductible — SimpMe

Tax planning is an important context whether you are planning for retirement, a specific goal (think wedding planning, or your child’s education) or simply planning to optimize your excess funds. It is common for people to continue saving or deferring taxes for many years only to face a huge tax bill when they start withdrawals. There is no escaping the tax man, it is just a matter of optimizing when you pay up. The goal is to grow your assets while MINIMIZING the tax bill.