Why the Order You Draw Retirement Income Matters
Two people can retire with the same savings and pay very different amounts of tax over their lifetime. The difference is often the order they draw from their accounts. Here is how sequencing works for professionals and business owners, and why the years before government benefits start matter most.
3 Ways to Put Your retained Earnings to work
Most incorporated business owners leave retained earnings sitting in the corporation, where passive income is taxed at high rates and taxed again on the way out. Here are three strategies I walk owners through to put that money to work more tax-efficiently: corporate-owned life insurance, critical illness insurance with return of premium, and an Individual Pension Plan.