Regardless of where you fall on the political spectrum, right now we are experiencing the political gridlock in Washington. With both sides of the aisle holding one chamber of Congress, and a presidential campaign in full swing, the odds of our elected officials coming together to solve our financial problem seems highly unlikely. A recent article, If We Fall off Cliff, Taxes Will Rise by $500B, from Fox Business News helps lay out the case that for the average household they could see their taxes increase by over $3,500, what a lot of experts are calling the Fiscal Cliff. But here’s the bad news, regardless of who wins or loses the presidential election, these potential tax increases will still remain. Help your clients redirect their future retirement contributions into products and strategies that will provide more benefits with less risk and distribute tax-free income in the future, such as Indexed Universal Life.
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