It’s like winning the lottery. In exchange for getting money you wouldn’t have otherwise received, you’ll have to give some of it to Uncle Sam. Uncle Sam gets more taxes. You get more money. It’s a win-win!
Tax-deferred compounding is the retirement saver’s silent partner on the journey to retirement success.
With the advent of the 401k plan, we added two more gears, changing our savings vehicle from a ’72 Pinto to a ’68 Mustang.