Phil Cannella Reviews • Phil Cannella Lawsuit • Phil Cannella Complaints:
Phil Cannella: “So let’s talk about retirement accounts.
According to some research that I have personally seen, it says that there’s over 14 to 15 trillion dollars in this country in retirement accounts. Those who are actively working and those who are retiring. If that’s the case, and we all have a partner in these retirement accounts called IRS, and income taxes go up, are retirement accounts nothing less than IRS’s savings accounts?”
Alicia Munnell: “So these are tax preferred accounts.”
Phil Cannella: “Tax deferred up until 70 and a half.”
Alicia Munnell: “Yeah tax deferred up to 70 and a half, but because you can defer taxes they are treated more favorably than any other type of saving, so The Government has been a partner in this savings program, and my sense is that it will probably remain as a partner going forward.”
Hear more from the interview with Phil Cannella and Alicia Munnell on The Crash Proof Retirement Show®. Saturdays at 11am and Sundays at 1pm on Talk Radio 1210AM, WPHT!