{"id":1898,"date":"2025-05-18T18:55:04","date_gmt":"2025-05-18T18:55:04","guid":{"rendered":"http:\/\/financialliteracyfornil.com\/?p=1898"},"modified":"2025-06-26T03:17:19","modified_gmt":"2025-06-26T03:17:19","slug":"break-down-of-retirement-accounts-that-lower-taxes","status":"publish","type":"post","link":"https:\/\/financialliteracyfornil.com\/?p=1898","title":{"rendered":"Break down of Retirement accounts that lower taxes"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1898\" class=\"elementor elementor-1898\">\n\t\t\t\t<div class=\"elementor-element elementor-element-607c6e3 e-flex e-con-boxed e-con e-parent\" data-id=\"607c6e3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-10824c3 elementor-widget elementor-widget-text-editor\" data-id=\"10824c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 data-start=\"260\" data-end=\"344\">Retirement Planning for College Athletes With NIL Income: What You Need to Know<\/h1><h2 data-start=\"346\" data-end=\"387\">Introduction: More Than Just NIL Deals<\/h2><p data-start=\"389\" data-end=\"651\">Name, Image, and Likeness (NIL) has given college athletes unprecedented opportunities to earn money during their playing years. But while cashing checks is great, keeping those checks \u2014 and growing them \u2014 is what separates short-term gain from long-term wealth.<\/p><p data-start=\"653\" data-end=\"821\">One of the smartest, most overlooked moves you can make as a college athlete with NIL income? <strong data-start=\"747\" data-end=\"780\">Opening a retirement account.<\/strong><br data-start=\"780\" data-end=\"783\" \/>Yes \u2014 even at 19, 20, or 21 years old.<\/p><p data-start=\"823\" data-end=\"1000\">Let\u2019s break it down in athlete-friendly terms:<br data-start=\"869\" data-end=\"872\" \/>If NIL is your game check, retirement planning is your <strong data-start=\"927\" data-end=\"950\">off-season training<\/strong> \u2014 quiet, disciplined, and eventually unstoppable.<\/p><hr data-start=\"1002\" data-end=\"1005\" \/><h2 data-start=\"1007\" data-end=\"1052\">Part 1: Why Retirement Accounts Matter Now<\/h2><p data-start=\"1054\" data-end=\"1068\">You may think:<\/p><blockquote data-start=\"1069\" data-end=\"1136\"><p data-start=\"1071\" data-end=\"1136\">\u201cI\u2019m not retiring anytime soon \u2014 why save for 40 years from now?\u201d<\/p><\/blockquote><p data-start=\"1138\" data-end=\"1149\">Here\u2019s why:<\/p><ul data-start=\"1150\" data-end=\"1394\"><li data-start=\"1150\" data-end=\"1220\"><p data-start=\"1152\" data-end=\"1220\"><strong data-start=\"1152\" data-end=\"1182\">Time is your biggest asset<\/strong> \u2014 compound interest favors the young.<\/p><\/li><li data-start=\"1221\" data-end=\"1325\"><p data-start=\"1223\" data-end=\"1325\"><strong data-start=\"1223\" data-end=\"1270\">NIL income counts as self-employment income<\/strong> \u2014 which qualifies you for special retirement accounts.<\/p><\/li><li data-start=\"1326\" data-end=\"1394\"><p data-start=\"1328\" data-end=\"1394\"><strong data-start=\"1328\" data-end=\"1360\">You can reduce your tax bill<\/strong> \u2014 and keep more of what you earn.<\/p><\/li><\/ul><p data-start=\"1396\" data-end=\"1471\">You can either pay the IRS now, or outsmart them legally with smart saving.<\/p><hr data-start=\"1473\" data-end=\"1476\" \/><h2 data-start=\"1478\" data-end=\"1535\">Part 2: The Retirement Account Options for NIL Earners<\/h2><h3 data-start=\"1537\" data-end=\"1588\">1. <strong data-start=\"1544\" data-end=\"1556\">Roth IRA<\/strong> (Individual Retirement Account)<\/h3><ul data-start=\"1590\" data-end=\"1865\"><li data-start=\"1590\" data-end=\"1669\"><p data-start=\"1592\" data-end=\"1669\"><strong data-start=\"1592\" data-end=\"1605\">Best for:<\/strong> Athletes in a low tax bracket now who want tax-free money later<\/p><\/li><li data-start=\"1670\" data-end=\"1728\"><p data-start=\"1672\" data-end=\"1728\"><strong data-start=\"1672\" data-end=\"1695\">Contribution limit:<\/strong> $7,000 in 2024 (if under age 50)<\/p><\/li><li data-start=\"1729\" data-end=\"1865\"><p data-start=\"1731\" data-end=\"1751\"><strong data-start=\"1731\" data-end=\"1749\">Tax treatment:<\/strong><\/p><ul data-start=\"1754\" data-end=\"1865\"><li data-start=\"1754\" data-end=\"1787\"><p data-start=\"1756\" data-end=\"1787\">Contributions = <strong data-start=\"1772\" data-end=\"1785\">after-tax<\/strong><\/p><\/li><li data-start=\"1790\" data-end=\"1815\"><p data-start=\"1792\" data-end=\"1815\">Growth = <strong data-start=\"1801\" data-end=\"1813\">tax-free<\/strong><\/p><\/li><li data-start=\"1818\" data-end=\"1865\"><p data-start=\"1820\" data-end=\"1865\">Withdrawals in retirement = <strong data-start=\"1848\" data-end=\"1865\">100% tax-free<\/strong><\/p><\/li><\/ul><\/li><\/ul><p data-start=\"1867\" data-end=\"2020\"><strong data-start=\"1867\" data-end=\"1896\">Translation for athletes:<\/strong><br data-start=\"1896\" data-end=\"1899\" \/>Pay taxes now while you\u2019re in a low bracket, and take the money out later <strong data-start=\"1973\" data-end=\"1985\">tax-free<\/strong>, even if you become a millionaire.<\/p><p data-start=\"2022\" data-end=\"2121\"><strong data-start=\"2022\" data-end=\"2037\">Bonus move:<\/strong> You can withdraw contributions (but not gains) without penalty, making it flexible.<\/p><hr data-start=\"2123\" data-end=\"2126\" \/><h3 data-start=\"2128\" data-end=\"2154\">2. <strong data-start=\"2135\" data-end=\"2154\">Traditional IRA<\/strong><\/h3><ul data-start=\"2156\" data-end=\"2382\"><li data-start=\"2156\" data-end=\"2215\"><p data-start=\"2158\" data-end=\"2215\"><strong data-start=\"2158\" data-end=\"2171\">Best for:<\/strong> Athletes who want a tax break <strong data-start=\"2202\" data-end=\"2215\">this year<\/strong><\/p><\/li><li data-start=\"2216\" data-end=\"2256\"><p data-start=\"2218\" data-end=\"2256\"><strong data-start=\"2218\" data-end=\"2241\">Contribution limit:<\/strong> $7,000 in 2024<\/p><\/li><li data-start=\"2257\" data-end=\"2382\"><p data-start=\"2259\" data-end=\"2279\"><strong data-start=\"2259\" data-end=\"2277\">Tax treatment:<\/strong><\/p><ul data-start=\"2282\" data-end=\"2382\"><li data-start=\"2282\" data-end=\"2320\"><p data-start=\"2284\" data-end=\"2320\">Contributions = <strong data-start=\"2300\" data-end=\"2318\">tax-deductible<\/strong><\/p><\/li><li data-start=\"2323\" data-end=\"2352\"><p data-start=\"2325\" data-end=\"2352\">Growth = <strong data-start=\"2334\" data-end=\"2350\">tax-deferred<\/strong><\/p><\/li><li data-start=\"2355\" data-end=\"2382\"><p data-start=\"2357\" data-end=\"2382\">Withdrawals = <strong data-start=\"2371\" data-end=\"2382\">taxable<\/strong><\/p><\/li><\/ul><\/li><\/ul><p data-start=\"2384\" data-end=\"2490\"><strong data-start=\"2384\" data-end=\"2400\">Translation:<\/strong><br data-start=\"2400\" data-end=\"2403\" \/>You lower your taxable NIL income now, but you\u2019ll owe taxes later when you take it out.<\/p><p data-start=\"2492\" data-end=\"2553\">Think of it like deferring taxes to your \u201cretirement season.\u201d<\/p><hr data-start=\"2555\" data-end=\"2558\" \/><h3 data-start=\"2560\" data-end=\"2582\">3. <strong data-start=\"2567\" data-end=\"2582\">Solo 401(k)<\/strong><\/h3><ul data-start=\"2584\" data-end=\"2792\"><li data-start=\"2584\" data-end=\"2655\"><p data-start=\"2586\" data-end=\"2655\"><strong data-start=\"2586\" data-end=\"2599\">Best for:<\/strong> Athletes with significant NIL earnings and no employees<\/p><\/li><li data-start=\"2656\" data-end=\"2792\"><p data-start=\"2658\" data-end=\"2688\"><strong data-start=\"2658\" data-end=\"2688\">Contribution limit (2024):<\/strong><\/p><ul data-start=\"2691\" data-end=\"2792\"><li data-start=\"2691\" data-end=\"2722\"><p data-start=\"2693\" data-end=\"2722\">Up to <strong data-start=\"2699\" data-end=\"2710\">$23,000<\/strong> as employee<\/p><\/li><li data-start=\"2725\" data-end=\"2763\"><p data-start=\"2727\" data-end=\"2763\">Up to <strong data-start=\"2733\" data-end=\"2751\">25% of profits<\/strong> as employer<\/p><\/li><li data-start=\"2766\" data-end=\"2792\"><p data-start=\"2768\" data-end=\"2792\">Total: <strong data-start=\"2775\" data-end=\"2792\">up to $69,000<\/strong><\/p><\/li><\/ul><\/li><\/ul><p data-start=\"2794\" data-end=\"2812\"><strong data-start=\"2794\" data-end=\"2812\">Tax treatment:<\/strong><\/p><ul data-start=\"2813\" data-end=\"2943\"><li data-start=\"2813\" data-end=\"2849\"><p data-start=\"2815\" data-end=\"2849\">Contributions = <strong data-start=\"2831\" data-end=\"2849\">tax-deductible<\/strong><\/p><\/li><li data-start=\"2850\" data-end=\"2877\"><p data-start=\"2852\" data-end=\"2877\">Growth = <strong data-start=\"2861\" data-end=\"2877\">tax-deferred<\/strong><\/p><\/li><li data-start=\"2878\" data-end=\"2943\"><p data-start=\"2880\" data-end=\"2943\">Option to add <strong data-start=\"2894\" data-end=\"2912\">Roth component<\/strong> (pay taxes now, grow tax-free)<\/p><\/li><\/ul><p data-start=\"2945\" data-end=\"3107\"><strong data-start=\"2945\" data-end=\"2961\">Translation:<\/strong><br data-start=\"2961\" data-end=\"2964\" \/>This is the <em data-start=\"2976\" data-end=\"2990\">big boy\/girl<\/em> plan. You can contribute more, lower taxes now, and potentially do a <strong data-start=\"3060\" data-end=\"3080\">Roth Solo 401(k)<\/strong> for long-term power plays.<\/p><hr data-start=\"3109\" data-end=\"3112\" \/><h3 data-start=\"3114\" data-end=\"3162\">4. <strong data-start=\"3121\" data-end=\"3132\">SEP IRA<\/strong> (Simplified Employee Pension)<\/h3><ul data-start=\"3164\" data-end=\"3411\"><li data-start=\"3164\" data-end=\"3240\"><p data-start=\"3166\" data-end=\"3240\"><strong data-start=\"3166\" data-end=\"3179\">Best for:<\/strong> Simpler setup than Solo 401(k) for high-earning NIL athletes<\/p><\/li><li data-start=\"3241\" data-end=\"3319\"><p data-start=\"3243\" data-end=\"3319\"><strong data-start=\"3243\" data-end=\"3266\">Contribution limit:<\/strong> Up to <strong data-start=\"3273\" data-end=\"3294\">25% of net income<\/strong>, max <strong data-start=\"3300\" data-end=\"3311\">$69,000<\/strong> in 2024<\/p><\/li><li data-start=\"3320\" data-end=\"3411\"><p data-start=\"3322\" data-end=\"3342\"><strong data-start=\"3322\" data-end=\"3340\">Tax treatment:<\/strong><\/p><ul data-start=\"3345\" data-end=\"3411\"><li data-start=\"3345\" data-end=\"3381\"><p data-start=\"3347\" data-end=\"3381\">Contributions = <strong data-start=\"3363\" data-end=\"3381\">tax-deductible<\/strong><\/p><\/li><li data-start=\"3384\" data-end=\"3411\"><p data-start=\"3386\" data-end=\"3411\">Withdrawals = <strong data-start=\"3400\" data-end=\"3411\">taxable<\/strong><\/p><\/li><\/ul><\/li><\/ul><p data-start=\"3413\" data-end=\"3547\"><strong data-start=\"3413\" data-end=\"3429\">Translation:<\/strong><br data-start=\"3429\" data-end=\"3432\" \/>Easier to manage than a Solo 401(k), and great for athletes making big NIL money without needing complex paperwork.<\/p><hr data-start=\"3549\" data-end=\"3552\" \/><h2 data-start=\"3554\" data-end=\"3606\">Part 3: Taxes \u2014 What This Looks Like in Real Life<\/h2><h3 data-start=\"3608\" data-end=\"3671\">\ud83e\uddee Athlete Example: You Earn $50,000 in NIL Deals This Year<\/h3><p data-start=\"3673\" data-end=\"3794\">Let\u2019s say you\u2019re a junior quarterback and you land $50,000 in NIL money. Here\u2019s how different accounts affect your taxes:<\/p><div class=\"_tableContainer_16hzy_1\"><div class=\"_tableWrapper_16hzy_14 group flex w-fit flex-col-reverse\" tabindex=\"-1\"><table class=\"w-fit min-w-(--thread-content-width)\" data-start=\"3796\" data-end=\"4347\"><thead data-start=\"3796\" data-end=\"3871\"><tr data-start=\"3796\" data-end=\"3871\"><th data-start=\"3796\" data-end=\"3814\" data-col-size=\"sm\">Option<\/th><th data-start=\"3814\" data-end=\"3829\" data-col-size=\"sm\">Contribution<\/th><th data-start=\"3829\" data-end=\"3846\" data-col-size=\"sm\">Taxable Income<\/th><th data-start=\"3846\" data-end=\"3871\" data-col-size=\"sm\">Immediate Tax Savings<\/th><\/tr><\/thead><tbody data-start=\"3949\" data-end=\"4347\"><tr data-start=\"3949\" data-end=\"4025\"><td data-start=\"3949\" data-end=\"3967\" data-col-size=\"sm\"><strong data-start=\"3951\" data-end=\"3965\">No account<\/strong><\/td><td data-start=\"3967\" data-end=\"3982\" data-col-size=\"sm\">$0<\/td><td data-start=\"3982\" data-end=\"3999\" data-col-size=\"sm\">$50,000<\/td><td data-start=\"3999\" data-end=\"4025\" data-col-size=\"sm\">$0<\/td><\/tr><tr data-start=\"4026\" data-end=\"4112\"><td data-start=\"4026\" data-end=\"4048\" data-col-size=\"sm\"><strong data-start=\"4028\" data-end=\"4047\">Traditional IRA<\/strong><\/td><td data-start=\"4048\" data-end=\"4061\" data-col-size=\"sm\">$6,500<\/td><td data-start=\"4061\" data-end=\"4078\" data-col-size=\"sm\">$43,500<\/td><td data-start=\"4078\" data-end=\"4112\" data-col-size=\"sm\">~$1,300 saved (at 20% bracket)<\/td><\/tr><tr data-start=\"4113\" data-end=\"4193\"><td data-start=\"4113\" data-end=\"4131\" data-col-size=\"sm\"><strong data-start=\"4115\" data-end=\"4127\">Roth IRA<\/strong><\/td><td data-start=\"4131\" data-end=\"4146\" data-col-size=\"sm\">$6,500<\/td><td data-start=\"4146\" data-end=\"4163\" data-col-size=\"sm\">$50,000<\/td><td data-start=\"4163\" data-end=\"4193\" data-col-size=\"sm\">$0 now, <strong data-start=\"4173\" data-end=\"4191\">tax-free later<\/strong><\/td><\/tr><tr data-start=\"4194\" data-end=\"4270\"><td data-start=\"4194\" data-end=\"4212\" data-col-size=\"sm\"><strong data-start=\"4196\" data-end=\"4211\">Solo 401(k)<\/strong><\/td><td data-start=\"4212\" data-end=\"4227\" data-col-size=\"sm\">$20,000<\/td><td data-start=\"4227\" data-end=\"4244\" data-col-size=\"sm\">$30,000<\/td><td data-start=\"4244\" data-end=\"4270\" data-col-size=\"sm\">~$4,000 saved now<\/td><\/tr><tr data-start=\"4271\" data-end=\"4347\"><td data-start=\"4271\" data-end=\"4289\" data-col-size=\"sm\"><strong data-start=\"4273\" data-end=\"4284\">SEP IRA<\/strong><\/td><td data-start=\"4289\" data-end=\"4304\" data-col-size=\"sm\">$12,500<\/td><td data-start=\"4304\" data-end=\"4321\" data-col-size=\"sm\">$37,500<\/td><td data-start=\"4321\" data-end=\"4347\" data-col-size=\"sm\">~$2,500 saved now<\/td><\/tr><\/tbody><\/table><div class=\"sticky end-(--thread-content-margin) h-0 self-end select-none\"><div class=\"absolute end-0 flex items-end\">\u00a0<\/div><\/div><\/div><\/div><p data-start=\"4349\" data-end=\"4493\">\ud83d\udca1 <em data-start=\"4352\" data-end=\"4493\">Note: These numbers are simplified and rounded for education purposes. Actual savings depend on tax bracket, deductions, and filing status.<\/em><\/p><hr data-start=\"4495\" data-end=\"4498\" \/><h2 data-start=\"4500\" data-end=\"4552\">Part 4: What Financial Literacy Really Means Here<\/h2><p data-start=\"4554\" data-end=\"4683\">This isn\u2019t just about saving for retirement \u2014 it\u2019s about understanding <strong data-start=\"4625\" data-end=\"4682\">how money works when it\u2019s taxed, earned, and invested<\/strong>.<\/p><p data-start=\"4685\" data-end=\"4720\">Here\u2019s what you&#8217;re really learning:<\/p><ul data-start=\"4722\" data-end=\"4960\"><li data-start=\"4722\" data-end=\"4790\"><p data-start=\"4724\" data-end=\"4790\"><strong data-start=\"4724\" data-end=\"4744\">Opportunity cost<\/strong>: $1 spent on a luxury now is $10 missed later<\/p><\/li><li data-start=\"4791\" data-end=\"4871\"><p data-start=\"4793\" data-end=\"4871\"><strong data-start=\"4793\" data-end=\"4812\">Compound growth<\/strong>: Investing early means your money works harder than you do<\/p><\/li><li data-start=\"4872\" data-end=\"4960\"><p data-start=\"4874\" data-end=\"4960\"><strong data-start=\"4874\" data-end=\"4892\">Tax efficiency<\/strong>: Choosing the right account helps you legally pay less to Uncle Sam<\/p><\/li><\/ul><hr data-start=\"4962\" data-end=\"4965\" \/><h2 data-start=\"4967\" data-end=\"5010\">Part 5: Which Account Should You Choose?<\/h2><div class=\"_tableContainer_16hzy_1\"><div class=\"_tableWrapper_16hzy_14 group flex w-fit flex-col-reverse\" tabindex=\"-1\"><table class=\"w-fit min-w-(--thread-content-width)\" data-start=\"5012\" data-end=\"5585\"><thead data-start=\"5012\" data-end=\"5091\"><tr data-start=\"5012\" data-end=\"5091\"><th data-start=\"5012\" data-end=\"5064\" data-col-size=\"md\">Situation<\/th><th data-start=\"5064\" data-end=\"5091\" data-col-size=\"sm\">Best Account<\/th><\/tr><\/thead><tbody data-start=\"5172\" data-end=\"5585\"><tr data-start=\"5172\" data-end=\"5251\"><td data-start=\"5172\" data-end=\"5223\" data-col-size=\"md\">You\u2019re new to money and don\u2019t want tax stress<\/td><td data-start=\"5223\" data-end=\"5251\" data-col-size=\"sm\"><strong data-start=\"5225\" data-end=\"5237\">Roth IRA<\/strong><\/td><\/tr><tr data-start=\"5252\" data-end=\"5331\"><td data-start=\"5252\" data-end=\"5303\" data-col-size=\"md\">You want a tax break this year<\/td><td data-start=\"5303\" data-end=\"5331\" data-col-size=\"sm\"><strong data-start=\"5305\" data-end=\"5324\">Traditional IRA<\/strong><\/td><\/tr><tr data-start=\"5332\" data-end=\"5417\"><td data-start=\"5332\" data-end=\"5383\" data-col-size=\"md\">You made $100K+ in NIL deals<\/td><td data-start=\"5383\" data-end=\"5417\" data-col-size=\"sm\"><strong data-start=\"5385\" data-end=\"5400\">Solo 401(k)<\/strong> or <strong data-start=\"5404\" data-end=\"5415\">SEP IRA<\/strong><\/td><\/tr><tr data-start=\"5418\" data-end=\"5497\"><td data-start=\"5418\" data-end=\"5469\" data-col-size=\"md\">You want flexibility and no early withdrawal risk<\/td><td data-start=\"5469\" data-end=\"5497\" data-col-size=\"sm\"><strong data-start=\"5471\" data-end=\"5483\">Roth IRA<\/strong><\/td><\/tr><tr data-start=\"5498\" data-end=\"5585\"><td data-start=\"5498\" data-end=\"5549\" data-col-size=\"md\">You want to play like a pro in wealth building<\/td><td data-start=\"5549\" data-end=\"5585\" data-col-size=\"sm\"><strong data-start=\"5551\" data-end=\"5583\">Solo 401(k) + Roth component<\/strong><\/td><\/tr><\/tbody><\/table><div class=\"sticky end-(--thread-content-margin) h-0 self-end select-none\"><div class=\"absolute end-0 flex items-end\">\u00a0<\/div><\/div><\/div><\/div><hr data-start=\"5587\" data-end=\"5590\" \/><h2 data-start=\"5592\" data-end=\"5642\">Final Whistle: Your NIL Money Is Business Money<\/h2><p data-start=\"5644\" data-end=\"5793\">As a college athlete with NIL income, you&#8217;re no longer just a player \u2014 you\u2019re a <strong data-start=\"5724\" data-end=\"5733\">brand<\/strong>, a <strong data-start=\"5737\" data-end=\"5749\">business<\/strong>, and a <strong data-start=\"5757\" data-end=\"5792\">future CEO of your own finances<\/strong>.<\/p><p data-start=\"5795\" data-end=\"5939\">Starting a retirement account now is like getting reps in the weight room. It doesn\u2019t always feel flashy, but the long-term payoff is unmatched.<\/p><hr data-start=\"5941\" data-end=\"5944\" \/><h2 data-start=\"5946\" data-end=\"5999\">\u00a0Coach\u2019s Advice (a.k.a. Financial Literacy Tip):<\/h2><blockquote data-start=\"6001\" data-end=\"6147\"><p data-start=\"6003\" data-end=\"6147\">&#8220;The earlier you understand how taxes and time work together, the faster you escape the paycheck-to-paycheck trap that catches too many people.&#8221;<\/p><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Retirement Planning for College Athletes With NIL Income: What You Need to Know Introduction: More Than Just NIL Deals Name, Image, and Likeness (NIL) has given college athletes unprecedented opportunities to earn money during their playing years. But while cashing checks is great, keeping those checks \u2014 and growing them \u2014 is what separates short-term &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/financialliteracyfornil.com\/?p=1898\" class=\"more-link\">Read more<span class=\"screen-reader-text\"> &#8220;Break down of Retirement accounts that lower taxes&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-1898","post","type-post","status-publish","format-standard","hentry","category-credit-debt-education"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Break down of Retirement accounts that lower taxes - Financial Literacy For NIL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financialliteracyfornil.com\/?p=1898\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Break down of Retirement accounts that lower taxes - Financial Literacy For NIL\" \/>\n<meta property=\"og:description\" content=\"Retirement Planning for College Athletes With NIL Income: What You Need to Know Introduction: More Than Just NIL Deals Name, Image, and Likeness (NIL) has given college athletes unprecedented opportunities to earn money during their playing years. 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