A high-income earner can save diligently for decades and still face a tax problem in retirement: Most of their savings could be concentrated in accounts in which withdrawals are taxed as ordinary income, with limited flexibility to manage those taxes.

Direct Roth eligibility may have phased out years earlier.

Indexed universal life insurance, or IUL, can address part of that issue. It provides a death benefit, while its cash value could create a supplemental source of money later in life.

From just $107.88 $24.99 for Kiplinger Personal Finance

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