“Catch-up” on retirement with this $20,000

Are you behind on retirement?

If you’re like most Americans, the answer is most likely yes!

But there’s an extra $20,000 you could be shuffling into your retirement account with this loophole.

You may not be able to access the cash right now, but it’ll come handy when you activate those retirement payouts, and you find and extra $20,000 to use!

The government is always turning a blind eye on shady businesses, if it means they’re getting more money in their pockets.

The sad thing about this scheme is that they’re scamming people who are heading into retirement.

It’s always devastating when I hear about the government doing dirty deals like this, but when I hear that they’re taking money from people who’ve worked so hard their whole life I must expose it.

They’re able to get away with it because they’re “technically” not doing anything physical to keep this up, they’re just holding back information from people as they approach retirement.

But they’re not going to steal from you anymore.

So, what exactly is this information they don’t want you to know?

It’s all to do with the taxation on your retirement accounts.

You might already know, but you’re allowed to contribute $22,500 per year to your 401k and none of that is at the mercy of income tax. That’s up to $45,000 a year that you and your spouse can use to dodge income tax.

But the government keeps awfully quiet about the other $7,500 you’re each allowed to wipe clean of income tax…

This extra tax-free $7,500 a year comes from something called “catch-up” contributions, which can be utilized through most retirement accounts.

“Catch up” contributions allow people over 50 to stash away another $7,500 each… that means you and your spouse are missing out on this $15,000.

So, for instance, if you and your spouse make $50,000 per year each, you’d be shielding $30,000 from income tax each.

That’d push your income into the next lower tax bracket and would save you each $10,000 a year on income taxes.

That’s an extra $20,000 a year that you and your spouse are missing out on.

I hope by bringing this to your attention that you’ll act on this and boost that retirement you’ve worked so hard for!

Talk to your accountant or 401k fund manager about “catch-up” contributions as soon as possible.

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