The prospect of unlimited paid time off may be appealing, but there are also some potential pitfalls to consider.
Unlike retirement accounts, there are no federal contribution limits for variable annuities, and the investment gains won’t be taxed until they are withdrawn.
These plans have generous contribution limits that increase with age, which may allow high-income business owners to catch up on retirement savings and significantly reduce their taxable incomes.
Compare the potential future value of tax-deferred investments to that of taxable investments.
How much life insurance would you need to produce a sufficient income stream for your family?