Prudential Annuities, the domestic annuity business for Prudential Financial , has launched the Living in Retirement program, a continuing education series for financial professionals and client seminars that attempts to highlight the concept of tax-wise savings for retirement. Included in the program are five tax-saving retirement strategies:
- Never forget, it’s the net. According to Prudential, it’s not what you earn, but what you keep after taxes.
- Distributions: How to keep what’s yours. Income distributions can include taxable pitfalls, according to Prudential, and with the help of a tax advisor, investors should take inventory of all potential sources of retirement income.
- Be tax-smart in asset allocation. Investors need to allocate assets properly so the money will last, according to Prudential. Understand what types of accounts provide the best tax advantages for both accumulation of savings and taking retirement income is what matters, the company says.
- Be-tax-smart if you continue to work. The majority of pre-retirees will work at least part-time during their retirement years, according to the company. Continuing to work in retirement requires investors to address tax considerations they may not have otherwise faced.
- Don’t go it alone. Overall retirement well being is as dependent on financial well being as it is health, the company says, and relying on a financial professional and tax advisor provides the guidance necessary to achieve a comfortable retirement.
In the new campaign, the company said it will also advocate annuity products as prudent retirement investments.