Page 33 - Know-So Money, Hope-So Money, Retirement Secrets Wall Street Doesn't Want You to Know

Double or Triple Your CD Rates

This heading represents a bit of literary license, because we really can’t

double the rates you get on your CDs. However, we can provide the
same safety as a CD, and give you much greater return over time than
you would get on a CD.

Another advantage of the annuity is the way it’s taxed. You don’t pay
any taxes on it until you actually withdraw the money. When you do

withdraw it, you may recover your initial investment tax free, so you
only pay taxes on the growth.

This can save you a lot of money over time. Many people just keep on
rolling CDs over year after year. I knew one woman who had over $1
million in CDs. She was not only getting substandard returns on those

CDs, but she was paying taxes every year on the “income,” even though
she just kept on rolling them over.

This killed her on her taxes and caused her to max out the taxes on her
Social Security income. But she just couldn’t see her way to moving her
money around, and that cost her plenty.

The moral of the story is be cautious...that’s okay and appropriate when
you are getting older and can’t afford to lose any money. But don’t be
overly cautious to the point where you end up hurting yourself. If you
can get a better rate, improve your tax situation, and maintain the safety
of your investment, then perhaps you should seriously look at making a

change.

We are available to answer any questions you may have regarding any
of these matters.

24