As a law firm owner, you face unique financial challenges and opportunities. Without the traditional employer-sponsored retirement plans, securing your financial future rests firmly in your hands. What if you had a foolproof method to shield a portion of your retirement income from taxes?

On this episode of The Lawyer Millionaire podcast, Darren Wurz delivers a comprehensive guide to using Individual Retirement Accounts (IRAs) and Roth IRAs for long-term wealth and tax optimization.

Darren discusses:

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• The fundamental differences between Traditional IRA and Roth IRA.
  
• How contributions and withdrawals from these accounts affect your taxes now and during your retirement years.
  
• The income thresholds and eligibility requirements for contributing to both types of accounts.
  
• Insightful examples illustrating the power of compound growth in retirement accounts.
  
• How to decide whether to contribute to a traditional IRA or a Roth IRA, considering their current and future tax situations?
  

Resources:

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  • Schedule a Call with Darren
    
  • Wurz Financial Services
    
  • The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
    
  • LinkedIn: Darren P. Wurz
    
  • The Lawyer Millionaire Podcast and Book Club
    
    To connect with podcast guests and other law firm owners, discuss these topics further, and access our quarterly book club, join our LinkedIn Podcast and Book Club