Originally Posted by
Trip7
Way too many pilots are confusing tax deferred and tax free.
Tax deferred is simply a bet that your tax bracket in retirement will be lower than it is currently.
Originally Posted by
First Break
Way too many pilots don’t understand the difference between a “tax bracket” and marginal tax rate versus effective tax rate, and how to do a realistic assessment thereof.
We should applaud those making the effort to learn though. There so many aspects to personal finance that just aren't taught in schools. Our education system is for training workers and indoctrination. It's no surprise it is just a limited percentage of the population who really understand how the system works.