The following chart focuses on the tax treatment of the types of assets that may be in your retirement portfolio. All of these have a variety of advantages, limitations and restrictions.
Cash value life insurance also has 5 other advantages:
- No income ceilings or contribution limits
- No required minimum distributions (RMDs) to take starting at age 72
- No 10% penalty for early retirement distributions taken before age 59½
- Premium flexibility
- Distributions can be taken when you want