Tax-Free or Taxable Military Retirement? - How "Types of Money" Can Impact Your SBP Decision
Understanding the different types of money available to military retirees is key to making the best decision about the Survivor Benefit Plan (SBP).
Free money can come from inheritances, 401k matching, and VA disability, but it's important to consider how much of a benefit this really is, especially for senior officers. Tax-free money is money that has already been taxed and can grow tax-free and be accessed tax-free.
Tax-deferred money, such as traditional 401ks and IRAs, can be deferred, but will be taxed when accessed. Fully taxable money, such as stocks, bonds, and mutual funds, will be taxed on capital gains and dividends.
Knowing these types of money can help maximize financial, health, and lifestyle opportunities and reduce taxes in the long run.
In this video, we explore the different types of money available to military retirees and how they can be used to maximize their financial, health, and lifestyle opportunities. Learn how to take advantage of free money, tax-free money, tax-deferred money, and fully taxable money.
Discover how to use the private pension strategy to reposition tax-deferred money into a tax-free account and how VA disability can be considered free money.
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