"Want to reduce your income that’s subject to taxes AND boost your retirement savings? I’m fortunate to be well-paid, but at my income level, taxes can take a big bite. Thankfully, my college’s 403(b) salary deferral program allows me to save money “pretax.” That means it lowers my taxable income so the amount contributed to my savings plan is actually higher than what comes out of my paycheck. It’s a pretty cool way to help reduce taxes and build my savings – and it’s easy to get started!"
This story is fictional and does not represent an actual client. For educational purposes only.