We’ve all heard about the importance of contributing to a 401(k) for retirement. But is it really enough on its own? For some, maybe it is, but it’s always wise to explore other options and keep an open mind. In this episode, Scott dives into a range of strategies that could help you build wealth for retirement, from Roth IRAs and the "backdoor" Roth to life insurance, real estate investments, and tax loss harvesting.
Tax planning might not be the most exciting topic, but it's certainly an important one. In this week’s episode, Scott and Marc chat about the differences between traditional 401ks and the increasingly popular Roth 401k when it comes to taxes. For pilots, the 401k is often the largest wealth-building tool, so it’s very important to understand how to navigate them and how they could affect your taxes now and in the future.
Many people default to Traditional IRAs or 401(k) plans simply because it's the path of least resistance. Employers often enroll new hires in these plans automatically, and many financial advisors and CPAs recommend them for immediate tax benefits. But is this always the best strategy for your long-term financial picture?
The Airline Advisor
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Address: 1700 Woodlands Dr, Maumee, OH 43537
