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Podcast: Providence Financial Retirement Show with Anthony Saccaro
Episode: Tax Implications of Retirement Accounts
Description: Retirement accounts are any IRA, 401(k), 403(b) SEP IRA, simple IRA or other employer-sponsored retirement accounts - any type of pre-tax account.  You put money into them pre-tax and postpone the tax; you save the tax dollars now but have to pay them later when you make your withdrawals. That's the first perceived benefit. The second perceived benefit is that you get tax deferral on that money until you decide to take it out. Because the money is growing inside of a retirement account, you don't pay any tax on the growth at all. Kind of...