A bimodal retirement savings strategy can be a tax-wise strategy that doesn't predict the future of tax policy but merely prepares for it. (Photo: Shutterstock)
For as long as you can remember, you've heard the drums. This incessant beat has provided the backbone of every retirement savings article, every employee education meeting, and every policy-related discussion. It has become the axiom of retirement savings. “Save now and reduce your taxes!” came down in a thunderous voice for on high. “Obey or face the consequences!” was the implicit warning.
Of course, this adage was predicated on the belief your tax rate today is higher than your tax rate will be when you retire.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
