IRA, Five Hundred Percent, Thirty Three Percent discussed on Safe Money with Marcus Bradford Bray

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In a thirty three percent bracket in a 25 percent tax bracket of joy were seventy two grand not a million if it's a tax deferred ira you may think oh i got a million dollars tax deferred but when you take out that money only about six hundred and fifty thousand of that israeli your money the other three hundred fifty grand belongs to uncle sam and i've talked about that in previous segments so i preferred tax free accumulation or the thrust now the third force a lot of pilot let's forget about in order to get an air plane off the tarmac you must have drag and be able to drag yeah you're gonna have friction you've got to have dragor else the plane will never get off the ground or airborne now can i suggest that you will never sore financially and last you learn safe positive leverage that is the ability to own and control assets with very little or none of your money tied up or at risk in that asset and this is what i was talking about a few minutes ago where banks borrow our money at one percent and they turn around and put it into insurance institutions usually rated about six notches higher in safety than they are and they earn five or six percent how much more spy than one they pay ten thousand in interest to us and they increase the safety and they earned 50000 an interest that's five times are five hundred percent that is their pain interest which is a drag to make five times that you can do the same thing if you're listening to me right now and you've got a bunch of money sit in a banker credit union because you think it's well at sefa i don't know where else to put it folks you could probably be making five times or more the rate of return and it can be taxfree instead of attacked as earned investment in a baker credit union this is making some sense well i want to introduce the subject at i'll go into it more detail in the next segment but there's four phases of retirement planning there's the contribution phase where we contribute money for our.

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