With 401k’s 403b’s IRA’s and other Qualified Plans, you get the tax credit when you contribute, but it will be taxable at retirement when you plan to use it. That’s a big problem. There are other vehicles which can be used ALONGSIDE the fore mentioned, that will provide additional income that may be TAX-FREE.
And if you’re a business owner, you can have an individual retirement plan in addition to your group plan.
(click the Kai-Zen button)
Let’s see what your options are.
Be sure to consult with your accountant for tax advice