This video helps you understand about Private #Retirement Scheme ( #PRS ) or #Differed #Annuity and it also shows you how to #save on #tax

You can look up the tax schedule for YA 2020 for yourself and calculate your possible taxable income.

To find out more if this scheme can help you or not you can also look at this link

#tax #Taxplanning #PRS #retirement #Retirementplaning #retirementIncome #savings #invest #investment…(read more)

LEARN MORE ABOUT: Retirement Annuities

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Private Retirement Scheme / Differed Annuity

Retirement planning is an important part of financial planning. It is important to plan for retirement in order to ensure a comfortable lifestyle after retirement. One of the most popular retirement planning instruments is a private retirement scheme or a deferred annuity.

A deferred annuity is an insurance product that provides a steady stream of income after retirement. It is a long-term investment that allows you to save money and earn interest over a period of time. The money is invested in a variety of financial instruments such as stocks, bonds, mutual funds, and other investments. The money is then paid out to you, either in a lump sum or in regular payments, when you reach retirement age.

The main benefit of a deferred annuity is that it can provide a steady stream of income after retirement. This can be used to supplement other retirement income sources such as pensions, Social Security, and other investments. The money can also be used to cover medical expenses, travel, or other expenses that may arise in retirement.

Another benefit of a deferred annuity is that it can provide tax benefits. The money invested in a deferred annuity grows tax free until it is withdrawn. This means that you can save more money in a deferred annuity than you would in a taxable account.

Finally, a deferred annuity can provide peace of mind. Since the money is invested for the long-term, you can be sure that your retirement income is secure. This can provide financial stability and security for your retirement years.

Overall, a deferred annuity is a great option for retirement planning. It can provide a steady stream of income, tax benefits, and peace of mind. It is important to consider all of your options when planning for retirement to ensure that you have the best retirement plan for your needs.