Not exact matches
So another idea is to forgo the
immediate deduction and claim it years later when the
money is withdrawn to offset the tax at that time, then you don't have to
worry about being in the higher tax bracket (except for the income earned in the meantime).
With an
immediate need annuity, you don't have to
worry about outliving your
money because the monthly payments continue for the length of your life.
They may not plan to stay in that home, they may want to use the
money for more
immediate tangible desires, they may not want the headaches of maintenance of those systems, and may be
worried about being able to sell a solar house in the future.
Beyond
immediate and obvious expenses, you can also provide a financial cushion for your dependents, whether it's
money so your spouse doesn't have to
worry about work and can focus on the kids, or you want to make sure the retirement fund is filled when you're not around to make contributions to it any longer.
To provide peace of mind — knowing that your family won't have an
immediate need to
worry about
money