Many have never heard the name because he was unable to navigate his way down from the summit, perishing atop the mountain. When preparing for the climb of a lifetime -- the ascent to retirement -- understand that it’s not just where you start but, more importantly, how you finish. Consider not only the ascent up the mountain but how to safely navigate your way down. Tax diversification should also be taken into consideration, as different assets can be spent in different ways depending on how they are taxed when utilized. Utilizing tax-favored investment vehicles, such as Roth 401(k)s, Roth IRAs, Cash Value Life Insurance and Tax-Favored Bonds, can be a way of reducing future tax liability and achieving tax diversification.

Source: Forbes July 19, 2017 12:56 UTC