tax advantaged
A way of describing an account that gets special treatment from the IRS to reduce the taxes you owe. The government designed these accounts to encourage people to save for things like retirement or medical costs.
Where it is explained in full
Whole life insurance: what it is, who uses it, and the arithmetic nobody shows you. A life insurance policy that also holds a savings account inside it. It is sold to almost everyone and it fits a few people well. This page explains how it works and how to tell which you are, and it never tells you what to buy.
A definition says what a thing is; it never says whether it fits you. The guides explain how it works and name the professional who confirms it for a particular person. The No Advice Disclosure.
Words beside it
- tax advantaged account
Any savings or investment account where the government gives you a special tax break, like not taxing your earnings or letting you put money in before taxes are taken out.
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