3 Major Penalty Taxes That Could Diminish Your Retirement Savings

3 Major Penalty Taxes That Could Diminish Your Retirement Savings

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Many of the best retirement saving strategies use employer-sponsored retirement plans like a 401(k), or individual plans like an IRA or Roth IRA. These retirement savings vehicles provide credit protections, preferential tax treatment to the investments, and in some cases, sizable tax deductions for contributions. 
For instance, when you save in a 401(k), you can do so pre-tax, and allow for…

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